tether algorand blockchain
Tether Stablecoin Is Now Available On Algorand Blockchain
February 11, 2020
tether algorand blockchain
Tether Stablecoin Is Now Available On Algorand Blockchain
February 11, 2020

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 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.”

USDT Algorand blockchain

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.

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Source: Cointelegraph.com


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Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
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