Pax Dollar is a type of digital currency known as a stablecoin, which is designed to maintain a stable value by being pegged to a reserve of assets, typically the U.S. dollar. Each Pax Dollar is backed by one U.S. dollar held in reserve, making it a reliable option for users who want to avoid the volatility often associated with other cryptocurrencies. Pax Dollar operates on blockchain technology, allowing for secure and transparent transactions. It is commonly used for trading, remittances, and as a means of transferring value across different platforms, providing users with a stable alternative in the digital currency market.