Tether (USDT) Is Now Integrated On Algorand Blockchain

Must Read

Social Capital Ceo’s Views On The Game Changer Asset Bitcoin

Chamatha Paliphatia, billionaire and the CEO of social capital, recently gave a statement that underlined the phase of...

Central Bank Digital Currencies (CBDCs) and Digital Payments is Future of Payments

Bank of International Settlements also known as BIS  favored central bank digital currencies (CBDCs) as well as digital...

Bitcoin Correlation Analysis: A comparison of Bitcoin with Other Significant Assets

VanEck's recent report sets out an interesting analysis with respect to the crypto-asset Bitcoin and Gold respectively. In...
12593556_10205735480657537_3835976740831778163_o
Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • According to the report, the top stablecoin operator Tether is now integrated as the first U.S. dollar-backed stablecoin USDT on Algorand blockchain.
  • Tether is considered being the first stablecoin that launched on Algorand’s blockchain.
  • Presently, the USDT is used mainly as a medium for trading with no prominent investment by those who are looking to use it as an authentic cryptocurrency.

According to the report, the top stablecoin operator Tether is now integrated as the first U.S. dollar-backed stablecoin USDT on Algorand blockchain.

During a press release on February 10, 2020, Tether

Advertisement


announced its collaboration with Algorand that will leverage the speed and security of Algorand’s protocol to provide users fast settlement and reduced counterparty risk in the transaction of fiat to the digital asset.

With Tether‘s presence on Algorand, the block confirmation will be assumed less than four seconds, the transaction fees will also be a fraction of cent, that eventually improves blockchain opportunities for micropayments.

Tether is considered being the first stablecoin that launched on Algorand’s blockchain. However, USDT has already launched on Ethereum, the Liquid Network, Tron (TRX), and Omni.  USDT is the leading stablecoin on the market with the market capitalization of $4,649,221,854 USD and a trading volume of $50,269,727,933 USD.

Presently, the USDT is used mainly as a medium for trading with no prominent investment by those who are looking to use it as an authentic cryptocurrency.

Twitter announcement

As per the latest tweet by Algorand, Tether is now fully integrated as the first stablecoin on Algorand. This makes the transactions go frictionless with quick confirmation, scalability, transaction finality, micropayments, and automatic wallet support.

Tether network trade under the USDT symbol

A blockchain-based cryptocurrency Tether (USDT), whose coins in circulation are supported by an equal amount of traditional fiat currencies. The tokens of the Tether network trade under the USDT symbol. Tether is a stablecoin which converts cash into digital currency and whose objective is to keep cryptocurrency evaluations steady.

The Algorand Blockchain

Aiming to build a borderless economy, Algorand is an open-source software company based on a pure proof-of-stake consensus protocol. This Boston-based blockchain supports transaction finality, open participation, security, and scalability.

Tether and Algorand objective is to keep building the next-gen financial products, the integration will benefit the growing customer base.

Hot News

Social Capital Ceo’s Views On The Game Changer Asset Bitcoin

Chamatha Paliphatia, billionaire and the CEO of social capital, recently gave a statement that underlined the phase of transition undergone by the Bitcoin...

Central Bank Digital Currencies (CBDCs) and Digital Payments is Future of Payments

Bank of International Settlements also known as BIS  favored central bank digital currencies (CBDCs) as well as digital payments during the COVID-19 outbreak. ...

Bitcoin Correlation Analysis: A comparison of Bitcoin with Other Significant Assets

VanEck's recent report sets out an interesting analysis with respect to the crypto-asset Bitcoin and Gold respectively. In addition to the crypto-asset’s correlation...

Cryptocurrency Weekly Roundup: Insight To The Events Occurred In Crypto Industry This Week

The Binance crypto exchange announced the acquisition of CoinMarketCap,  a popular cryptocurrency data aggregator.  The court dismissed Telegram’s request of GRAM token issuance to the...

11 Class Action Lawsuits Against Cryptocurrency Companies Filed By Roche Freedman

On April 3, 11 class action lawsuits against cryptocurrency companies that alleged the sale of unregistered securities were filed with the Southern District...

Traditional Trading Firms Delighted With Crypto: Report

The Adoption of Digital Asset Trading report published by Acuiti management intelligence platform states that the trading firms have come to the terms to believe...

Partners

Central Bank Digital Currencies (CBDCs) and Digital Payments is Future of Payments

Bank of International Settlements also known as BIS  favored central bank digital currencies (CBDCs) as well as digital payments during the COVID-19 outbreak. ...

Bitcoin Correlation Analysis: A comparison of Bitcoin with Other Significant Assets

VanEck's recent report sets out an interesting analysis with respect to the crypto-asset Bitcoin and Gold respectively. In addition to the crypto-asset’s correlation...

Cryptocurrency Weekly Roundup: Insight To The Events Occurred In Crypto Industry This Week

The Binance crypto exchange announced the acquisition of CoinMarketCap,  a popular cryptocurrency data aggregator.  The court dismissed Telegram’s request of GRAM token issuance to the...

11 Class Action Lawsuits Against Cryptocurrency Companies Filed By Roche Freedman

On April 3, 11 class action lawsuits against cryptocurrency companies that alleged the sale of unregistered securities were filed with the Southern District...

RELATED NEWS

Social Capital Ceo’s Views On The Game Changer Asset...

Chamatha Paliphatia, billionaire and the CEO of social capital, recently gave a statement...

Central Bank Digital Currencies (CBDCs) and Digital Payments is...

Bank of International Settlements also known as BIS  favored central bank digital currencies...

Bitcoin Correlation Analysis: A comparison of Bitcoin with Other...

VanEck's recent report sets out an interesting analysis with respect to the crypto-asset...