Tether Stablecoin Is Now Available On Algorand Blockchain
- Crypto News Point
- Feb 11, 2020
- 1 min read
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&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:
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
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