Project Name: Tether
Ticker: USDT
Website: https://tether.to/
Twitter: twitter.com/tether_to
Whitepaper: tether.to/en/whitepaper/
What Is Tether (USDT)?
Launched in 2014, Tether (USDT) is one of the most popular stablecoins in terms of trading volume. Unlike Bitcoin, market conditions do not affect its price, so it is not volatile like other cryptocurrencies. Instead, Tether (USDT) retains its value as it is pegged to another asset, the USD. Tether (USDT) was created to become an asset used across blockchains. Tether (USDT) also offers services that cover other currencies besides the USD, and these include stablecoins pegged to the Euro (EURT), Mexican peso (MXNT), and Chinese yuan (CNHT). There's also XAUT, a stablecoin pegged to gold.
What Does Tether (USDT) Offer?
Tether’s most notable feature is its price stability. Since Tether (USDT) is pegged to the USD, it provides price stability, unlike other cryptocurrencies. Thus, price fluctuations are prevented, and users can invest more safely. Moreover, Tether (USDT) is actively used on many cryptocurrency trading platforms, which means users can easily access it. Furthermore, Tether (USDT) transactions can be made at lower costs than other cryptocurrencies.
Tether’s (USDT) Technology
Tether (USDT) is based on Blockchain Technology and is indexed to the USD. USDT was created on the Ethereum blockchain in the ERC-20 standard. USDT also runs on the TRON, Omni, EOS, and Algorand blockchains. Tether was developed to ensure price stability. USDT is “tethered” to the USD and is always equal to the USD, and therefore fluctuations in its price seem to be extremely rare. The price of USDT depends on the amount of USD in the reserves of the Tether company. The company claims that for every USDT token it produces, it keeps one USD in its reserves, and these reserves are regularly audited by an independent audit firm.
Tether does not use a Private Blockchain network to generate USDT. Instead, it uses the open-source Omni Layer protocol, which is a protocol built on top of the Bitcoin blockchain and allows tokens to be transferred quickly and cheaply.
The Tether (USDT) Team & Company
The Tether (USDT) team consists of people experienced in Blockchain Technology. Tether is managed by Hong Kong-based Tether Limited. Tether Limited is founded by well-known names such as Brock Pierce, Reeve Collins, and Craig Sellars. Pierce is among the founders of the Bitcoin Foundation and has been involved in many initiatives in the blockchain industry. Sellars is a software developer, who is one of the leading experts on Blockchain Technology and is particularly focused on Bitcoin and Blockchain Technology. The Tether team has played an important role in the field of cryptocurrencies and Blockchain Technology since the launch of USDT. Tether is one of the first companies to popularize the concept of stablecoins using Blockchain Technology. The team is constantly working to ensure the price stability of USDT and is developing various strategies to expand the use cases of the stablecoin.
Tether’s (USDT) Digital Asset Economy
Tether (USDT) offers users a stablecoin service. As of May 2, 2023, the total supply of USDT is 81,801,198,099 USDT.
Evaluation of Tether (USDT)
USDT, which has an important place in the crypto money ecosystem, is not priced according to supply and demand. Since USDT is indexed to the USD, price stability is ensured. USDT is used on cryptocurrency trading platforms to provide liquidity. Moreover, USDT can be easily exchanged for other cryptocurrencies, which makes it popular among investors.
