Gold-backed Crypto to be Introduced in Paxos

A fintech firm headquartered in New York, Paxos Technology Solutions LLC has shared its plan in launching a golf-backed cryptocurrency soon. Its CEO Chad Cascarilla explained, “We are excited about the concept of being able to take a commodity, and I think precious metals are really obvious ones, and gold is probably the most obvious and being able to tokenize it.”

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Gold-backed Crypto to be Introduced in Paxos

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

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