Tether Stablecoin Is Now Available On Algorand Blockchain
Stablecoin operator, Tether launched its U.S. dollar-backed stablecoin USDT on the Algorand proof-of-stake (PoS) blockchain.
On Feb. 10, a press release stated that USDT on Algorand will feature confirmation times as low as four seconds and transaction fees of a fraction of a percent.
Tether is the first stable coin available on Algorand’s Next Generation Blockchain Platform.@Algorand users will have access to Tether and will benefit from fast transactions, unlocking the opportunity for micropayments on the blockchain. ⬇️https://t.co/MOnryDAvP0 pic.twitter.com/S8FOadnnh6 — Tether (@Tether_to) February 10, 2020
Tether chief technical officer Paolo Ardoino said:
“Our latest collaboration with Algorand leverages the speed and security of Algorand’s protocol to give traders fast settlement and reduced counterparty risk in their fiat to digital asset transactions.”
As per the release, Tether is the first stablecoin that launched on Algorand’s blockchain. As of now, USDT has already launched on:
Ethereum
EOS
the Liquid Network
Omni
Tron
USDT is the leading stablecoin on the market. According to CoinMarketCap as of press time it has a market value of $4.6 billion and reports a 24-hour trading volume of $46.1 billion.
Source: Cointelegraph.com
#proofofstake #Stablecoin #Algorand #USDT #Tether #AlgorandFoundation