Tether (USDT) Cryptocurrency
| # | Name | Price | Changes 24h | Market CAP | Volume | Supply |
|---|
Launch Date
October 6, 2014 (as RealCoin)
Official Website
Creator
Consensus Mechanism
Omni Layer within Bitcoin blockchain
Tether is the world’s first stablecoin. It’s purpose is to allow investors to have liquidity within the crypto industry. Investors can trade fiat dollars for Tether and change Tether back into fiat dollars easily, without seeing volatility in the fiat value of their crypto investment.
Tether (abbreviated USDT) is one of the most popular cryptocurrencies in the world and the most widely used stablecoin. Tether was created to attach (or tether) the US dollar to the blockchain.
Tether Provides Liquidity
The main purpose of Tether (as with other stablecoins) is to provide liquidity to crypto investors. Because Tether is pegged to the fiat US dollar currency, owning Tether essentially means owning USD, since Tether can be redeemed for dollars.
Tether is expected to keep as collateral 1 USD for each tether that it issues. However, there have been many issues with Tether not keeping that commitment over the life of its existence. Users of Tether must have some trust that the organization behind the crypto (ultimately Bitfinix) has integrity with respect to their commitment to keep collateral available so that Tether can be redeemed.
Tether Pegged to USD
Tether uses the principles of supply and demand to keep its price at $1 USD for each Tether token. When demand goes up for Tether tokens, more tokens are made available on the network. When demand goes down, tokens are removed from the network.
Tether Blockchains
Tether is a unique crypto in that it exists on several different blockchains. Tether is currently available on the following blockchains:
- Bitcoin (Omni)
- Ethereum
- Eos
- Tron
- Algorand
- Solana
- OMG Network
- Bitcoin Cash (SLP)
