- Tether stablecoins are now integrated on the platform of Solana blockchain network
- The integration will allow Tether’s users to make 50,000 transactions per second with meager transaction fees
- The new integration will also help the stablecoin to support a remarkable array of DeFi, Web 3.0, and blockchain gaming projects
Tether stablecoins, the world’s largest dollar-pegged tokens, are continuing to expand their reach towards different blockchain networks. Previously, the tokens were live on seven different networks, including Ethereum, Algorand, BCH, EOS, Liquid Network, Omni, and Tron. After these seven blockchains, Tether announced it was getting live on the Solana blockchain network. However, the tokens are now expected to support a dazzling list of projects in the DeFi sector. After Tether’s integration, Solana blockchain has been thrown in the ground as a competitor to Ethereum blockchain. Moreover, stablecoins have also been integrated into Layer-2 solutions in recent days since Ethereum began changing high gas fees.
How will Tether stablecoins integration on Soalan help?
Tether stablecoins are used in the crypto market to easily and quickly move funds without traditional financial rails. According to Paolo Ardoino, the integration of Tether stablecoins in Solana’s blockchain network will enable Tether’s users to transact USDT at higher speeds. It is expected that on the Solana network, users would be able to make 50,000 transactions per second. Moreover, Tether also claimed that transaction fees will now be very low to $0.00001 per transaction. Indeed, much lower-cost transactions and high-speed networks will boost new applications and projects in the DeFi ecosystem.
According to Paolo, after seven networks, the expansion of Tether stablecoins to the Eighth network will support more features. Indeed, a remarkable list of projects in the DeFi ecosystem, Web 3.0, and blockchain gaming are expected to be supported on Tether now.
Solana has been thrown on the battlefield against Ethereum
Since Ethereum blockchain began to charge high transaction fees, other blockchain networks like Binance Smart Chain (BSC) and SushiSwap were observed gaining traction. Likewise, Solana has also seen many DeFi applications and projects migrating from Ethereum to its ecosystem.
However, many DeFi developers are also observed generally looking for other networks in wait for Ethereum 2.0. Although the blockchain alternative to Ethereum is continuing to proliferate to meet DeFi actors’ needs, many actors are still expecting ETH2.0 to bring key advantages. For the fact, such projects are integrating other blockchains and are not willing to move from Ethereum.
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