Tether

Tether Limited is a corporation that operates a platform that distributes blockchain-based assets linked to the price of government money. It is the inventor of the first and most extensively used stablecoin.

What is Tether?

Tether Limited is a corporation that operates a platform that distributes blockchain-based assets linked to the price of government money. It is the inventor of the first and most extensively used stablecoin.

Tether now supports four stablecoins, including the US dollar (USDT), the Chinese Yuan (CNHT), and the Euro (EURT), as well as a gold-backed stablecoin (XAUT).

With the debut of USDT in 2014, the company's goal was to make government currencies more compatible with newer crypto assets, which were exchanged on an active worldwide market 24 hours a day, seven days a week.

How does it work?

Tether Limited is in charge of accepting cash deposits and withdrawals on behalf of clients, as well as minting and destroying Tether tokens in accordance with the reserves it manages.

The Omni Layer protocol, a platform for producing and exchanging digital assets on top of Bitcoin, was used to launch and issue Tether on the Bitcoin network.

Tether tokens can be minted and burned using this technology dependent on the quantity in custody. The procedure can also be used to track and report Tether circulation.

Tether's ledger is stored on the Bitcoin blockchain due to Omni, and users may examine their validated transactions there via the Omni Explorer. Tethers will be available as assets on Liquid, a Bitcoin sidechain, starting in 2020.

Use in practice

Each USDT token can be exchanged for a corresponding US dollar held in Tether Limited's possession. The firm's reserves are believed to be equivalent to the total value of all USDT.

A USDT can be transferred, saved, and spent by a number of organizations (exchanges, wallets, financial services) and individual traders wanting to avoid the often-high volatility of cryptocurrency markets.

How can I earn?

Stablecoins are an emerging class of crypto assets that are beginning to find applications outside of the trading realm, such as traditional cross-border payments.

Tether is now available on other blockchains such as Ethereum (ETH), Tron (TRX), and EOSIO (EOS), all of which allow for the establishment of new assets natively on their own blockchains.

Website

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WhitePaper

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