A new breed of cryptocurrencies is seeking to replicate the stability of the dollar. But critics say they are a disaster waiting to happen.
So-called “algorithmic stablecoins” have surged in popularity in recent months, spurring debate over whether they are good for the crypto industry. They are the edgy upstart sibling of conventional stablecoins—digital currencies that seek to maintain a one-to-one relationship with a traditional currency, usually the dollar.
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