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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.”

<img width="2560" height="1440" src="https://i2.wp.com/www.cryptonewspoint.com/wp-content/uploads/2020/02/EQcx-7IWkAAGmC-.jpg?fit=1024%2C576&amp;ssl=1" alt="USDT Algorand blockchain" class="wp-image-10689 lazyload" />

As per the release, Tether is the first stablecoin that launched on Algorand’s blockchain. As of now, USDT has already launched on:

  1. Ethereum

  2. EOS

  3. the Liquid Network

  4. Omni 

  5. 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

 
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