Tether (USDT) Originally launched in July 2014 as Realcoin, a second-layer cryptocurrency token built on top of Bitcoin’s blockchain through the use of the Omni platform. It was later renamed to USTether, and then, finally, to USDT. In addition to Bitcoin’s, USDT was later updated to work on the Ethereum, EOS, Tron, Algorand, and OMG blockchain.
Who are the founders of Tether?
Founded in July 2014 by Brock Pierce, Craig Sellars, and Reeve Collins, Tether (USDT), originally known as "Realcoin", is a cryptocurrency commonly known as a “stablecoin” that aims to keep a fixed 1:1 exchange ratio with the U.S. dollar.
Purpose of Tether
Tether was developed as a means of storing value between fiat currencies and cryptocurrencies. The coin's value is determined by fiat currency in order to stabilize the coin's price and reduce volatility. When compared to other Cryptocurrencies, it is similar to regular money. However, it retains the characteristics of digital currency.
Key Metrics
| Ticker | USDT |
| Token Name | Tether |
| Token Type/Protocol | ERC-20, TRC-20, BSC, TRX |
| Total Token Supply | 121,236,817,752 USDT |
| Current Circulating Supply | See Coinmarketcap |
| Market Capitalization | See Coinmarketcap |
| Token Creation Date | July 2014 |
| Can it be mined? | Yes |
Insights
- The volatility of USDT varies upon the backed-up asset, therefore currency depreciation would directly affect the price of USDT accordingly.
- Tether are built on multiple blockchains - offering easy integration and adoption. Supported blockchains are Bitcoin (Omni & Liquid protocol), Ethereum, TRON, EOS, Algorand, and Bitcoin Cash (SLP).
Official Website: https://tether.to/
White Paper: https://tether.to/wp-content/uploads/2016/06/TetherWhitePaper.pdf
Note
As cryptocurrency and digital tokens involve high risks, investors may lose all their investment money and should study information carefully, making investments according to their own risk profile.
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