Cryptocurrency Paxos (PAX)
What is Paxos (PAX)? The Paxos token is the first digital asset created by a financial institution (NYDFS) and backed by the US dollar (1 PAX = 1 US dollar). It was created as a new digital payment platform with great integration capabilities into any structure.
The current cryptocurrency is a classic ERC-20 token, which was developed based on another popular Ethereum project. This helped decentralize the blockchain and increase the stability of cryptocurrencies.
To summarize, it is a government approved cryptocurrency.
Paxos (PAX) Review
Paxos Trust was founded in 2012. At the beginning of 2018, in the wake of the excitement around cryptocurrency technologies, the company’s management decided to create their own blockchain project.
The team of creators includes 8 people who prefer to hide their plans for the future. The main idea is to build a bridge between the traditional financial system and the digital economy of the future.
Paxos is a blockchain platform that contains regulated trust status and DLT distributed ledger technology.
The team of creators speaks very flatteringly about their blockchain platform. But in practice there is nothing innovative. The main advantage is that it is based on a legal financial institution.
Advantages of Paxos (PAX)
- Legal and government support. Regulated by NYDFS and SEC ). Investors' money is kept in secure accounts and backed by US dollars.
- Transparency. Every month, Paxos Trust Company conducts an inventory audit and publishes it on the website.
- Comfort. Pax provides platform stability and no conversion fees 24/7.
Disadvantages of Paxos (PAX)
- Youth of the project
- Not unique
