Pornhub uses Tether (USDT) on blockchain TRON for payouts models

Justin Sun has news to attract new investors. From now on, PornHub can pay for its “models” with the stablecoin tether, via the TRON blockchain. According to Sun and Pornhub (no worries, safe for work) that is much needed. A few months ago, PayPal stopped paying out PornHub models.

Lost your income in one fell swoop

In November 2019, PayPal suddenly stopped paying thousands of PornHub models. They lost their main source of income in one fell swoop. Earlier we wrote that PornHub was busy looking for alternatives. So they have now found them in the form of tether.

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With a TRON wallet, models can receive tether for their work. According to Sun and PornHub, transactions take place within a few seconds and there are no transaction costs.

That is slightly different than with PayPal. Do you transfer an amount to someone from another continent? Then you pay up to 4 euros in transaction costs. You also pay transaction costs if you have to change currencies, for example from euros to dollars. Those additional costs simply do not exist with cryptocurrency.

What is tether?

Tether (USDT) is a stablecoin, a cryptocurrency with a value that is linked to the US dollar. The currency is closely associated with the Bitfinex cryptocurrency exchange. The promise is that each tether is covered one by one by real dollars in a bank account.

The coin is issued via the block chains of Omni, Ethereum, TRON and EOS. Almost 1 billion dollars is on the TRON blockchain, which is about 19 percent of the total number of tethers.

The stablecoin is hugely popular on cryptocurrency exchanges, in the last 24 hours tether has been traded for more than 30 billion dollars. That’s almost $ 7 billion more than bitcoin.

The use of tether is a step in the right direction, but perhaps not the most ideal option. Tether remains in the hands of a central party, and the question is whether they can also censor on transactions when governments ask for it.

Fortunately, bitcoin is working hard on a solution to make daily payments possible. Consider, for example, the lightning network, about which we have written an article about today.