The “Gold Standard” was so far applicable only to fiat currencies. It means, that the currency in circulation in a country is backed by its equivalent worth in gold. Gold was chosen as a standard because it is universally accepted as a standard, and it still continues to be so.
Recent days have seen the world gradually deviating from fiat currency to digital currency. Bitcoin and other altcoins are on the rise. Bitcoin is not backed by gold, and its value is decided by demand, supply and the number of transactions happening over the network. Thus making it more volatile compared to the currencies that are backed by gold.
The properties that impart value to bitcoin are the same factors that were responsible for the downfall of numerous altcoins. But it is all going to change with the latest Ivugeo Coin. Unlike bitcoin and most of the other cryptocurrencies, Ivugeo Coin is backed by gold. By following the gold standard, Ivugeo Coin ensures that the value of its currency remains intact. According to them, over 60 percent of Ivugeo Coin has already been covered by gold