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 cryptographic coinage transactions conducted by computers via a network;
generating blockchain data records representing the cryptographic coinage transactions conducted by the computers via the network;
determining a rate of generation associated with the generating of the blockchain data records;
identifying a conversion quantity by querying an electronic database for the rate of generation associated with the generating of the blockchain data records, the electronic database electronically associating conversion quantities to rates of generation including the conversion quantity that is associated with the rate of generation; and
executing a conversion operation that converts the conversion quantity of a pegged cryptographic token represented by the cryptographic coinage transactions into a different pegged cryptographic token represented by the cryptographic coinage transactions;
wherein the executing of the conversion operation maintains a value of the pegged cryptographic token.
2 . The memory device of claim 1 , wherein the operations further comprise inferring a demand associated with the pegged cryptographic token based on the rate of generation.
3 . The memory device of claim 1 , wherein the operations further comprise logging the conversion operation in the blockchain data records.
4 . The memory device of claim 1 , wherein the operations further comprise logging a token identifier associated with the conversion operation.
5 . The memory device of claim 1 , wherein the operations further comprise logging a token identifier associated with the conversion operation.
6 . The memory device of claim 1 , wherein the operations further comprise logging a token identifier associated with the pegged cryptographic token.
7 . The memory device of claim 1 , wherein the operations further comprise logging a token identifier associated with the different pegged cryptographic token.