Stable cryptocurrency coinage
A multi-coin mechanism for maintaining a stable value of cryptographic coinage traded in a decentralized market exchange without requiring a reserve. Multiple, pegged cryptographic tokens are traded in the reserveless decentralized market exchange. Each of the multiple, pegged cryptographic tokens may be pegged to a different asset (such as different currencies and/or commodities). The multiple, pegged cryptographic tokens are value related based on cryptographic exchange rates. Whenever a market transaction is processed (such as a buy or sell order), at least one of a destruction operation and a creation operation are performed. The destruction operation destroys at least one of the pegged cryptographic tokens, while the creation operation creates new ones of the pegged cryptographic tokens n. The multi-coin mechanism thus implements a decentralized and algorithmic monetary policy that removes and/or deposits cryptographic tokens to/from the reserveless decentralized market exchange to alter supply and to maintain stable coinage values.
1. A memory device storing instructions that when executed by a hardware processor perform operations, the operations comprising:
receiving a blockchain sent via a computer network to blockchain node computers, the blockchain specifying cryptographic coinage transactions conducted via the computer network between the blockchain node computers as a reserveless decentralized market exchange, the cryptographic coinage transactions associated with a pegged cryptographic token and a different pegged cryptographic token traded via the blockchain network between the blockchain node computers;
generating data records in a blockchain data layer describing the cryptographic coinage transactions associated with the pegged cryptographic token and the different pegged cryptographic token traded via the blockchain network between the blockchain node computers;
monitoring a rate of generation of the data records in the blockchain data layer describing the cryptographic coinage transactions associated with the pegged cryptographic token and the different pegged cryptographic token traded via the blockchain network between the blockchain node computers;
querying an electronic database for the rate of generation of the data records in the blockchain data layer, the electronic database electronically associating destruction quantities, creation quantities, and conversion quantities to rates of generation including the rate of generation of the data records in the blockchain data layer;
identifying a destruction quantity of the destruction quantities in the electronic database that is electronically associated with the rate of generation of the data records in the blockchain data layer;
identifying a creation quantity of the creation quantities in the electronic database that is electronically associated with the rate of generation of the data records in the blockchain data layer;
identifying a conversion quantity of the conversion quantities in the electronic database that is electronically associated with the rate of generation of the data records in the blockchain data layer;
performing a destruction operation that destroys the destruction quantity of the pegged cryptographic token identified from the electronic database, the destruction operation destroying the destruction quantity of the pegged cryptographic token from being traded via the blockchain network between the blockchain node computers as the reserveless decentralized market exchange;
performing a creation operation that creates the creation quantity of the different pegged cryptographic token identified from the electronic database, the creation operation creating and depositing new ones of the different pegged cryptographic token being traded via the blockchain network between the blockchain node computers as the reserveless decentralized market exchange;
performing a conversion operation that converts the conversion quantity of the pegged cryptographic token into the different pegged cryptographic token identified from the electronic database; and
increasing the rate of generation of the data records in the blockchain data layer in response to at least one of the destruction operation, the creation operation, and the conversion operation;
wherein the increasing of the rate of generation of the data records in the blockchain data layer maintains a stability of a value of the pegged cryptographic token traded via the blockchain network between the blockchain node computers as the reserveless decentralized market exchange.
2. The memory device of claim 1 , wherein the operations further comprise inferring a demand for the pegged cryptographic token traded in the reserveless decentralized market exchange based on the rate of generation of the data records in the blockchain data layer.
3. The memory device of claim 1 , wherein the operations further comprise logging the destruction operation in the blockchain data layer.
4. The memory device of claim 1 , wherein the operations further comprise logging the creation operation in the blockchain data layer.
5. The memory device of claim 1 , wherein the operations further comprise logging the conversion operation in the blockchain data layer.
6. The memory device of claim 1 , wherein the operations further comprise logging token identifiers associated with the creation operation in the blockchain data layer, the token identifiers uniquely identifying the new ones of the different pegged cryptographic token created and deposited into the reserveless decentralized market exchange.