People are being surprised that PayPal - PYUSD stablecoin owners have an option to pause transfers and freeze assets, instead of assuming that every centralized stablecoin can do the same. PayPal getting involved in crypto is really positive for crypto ov

After a little research, it turns out that PayPal stablecoin is actually exactly what we thought it will be and may just be a knockoff of USDT. Well, that is not a surprise at all, and I don't know why are people surprised about it.

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PayPal stablecoin is written in an old version of Solidity (for these types of work, the latest version of the software, programming language, etc. would always be recommended)

The owner can pause transfers, block them and make as many stablecoins as he wants. Users report that Solidity 0.4.24 version used by PayPal is unnecessarily expensive and "not a best practice".

So basically, so far the cons of PayPal USD stablecoin is that is being written on old version of Solidity.

Cons are that your assets may be frozen? No.

Well, we should all assume that stablecoins are able to do that. I mean, the owners, moderators, admins, whatever you want to call it. Like, every stablecoin, except the ones that are decentralized, logically.

Information that is available on GitHub about PYUSD.

Also:

In the event of a significant security threat, Paxos, the underlying technology, has the capability to suspend both the authorization and transfer functions of PYUSD.

So basically, Paxos can lawfully freeze or seize assets linked to criminal activities.

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Overall the launch is really positive for crypto.

PayPal has 435 million active accounts as of 2023.

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It brings new users, actually millions of users, where people who had no idea what is crypto can learn what is stablecoin and move further to other coins, learn the difference between centralized and decentralized coins. It brings them to a world of crypto.

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