The stablecoin transmitter Tether just announced the launch of its stable cryptocurrency, Tether (USDT), on the blockchain Algorand.
The company Tether, a subsidiary of the iFinex group, said that theUSDT was the first stablecoin to be deployed on the proof of stake blockchain (PoS) Algorand.
With this integration, Tether wish to take advantage of the functionality of the blockchain platform Algorand 2.0 and thus offer instant confirmations, in particular to facilitate micro-payments.
One of the main strengths of Tether is that it draws on a rich diversity of blockchains. Our collaboration with Algorand will use the speed and security of the Algorand Protocol to offer traders quick settlement and reduced counterparty risk, "said Paolo Ardoino, CTO at Tether.
Founded by Silvio Micali, professor at MIT, Algorand is developing a solution to solve the "blockchain trilemma". Last year, the startup raised $ 60 million from the sale of its token Algo.
We are delighted that Tether chose to join the ecosystem Algorand, "Added Steve Kokinos, CEO of Algorand.
TheUSDT of Tether is now available on blockchains Omni, Ethereum, EOS, Tron, Algorand and on the sidechain Liquid Network.
In January, Tether also expanded its offer with Tether Gold (XAUT), a gold-backed stablecoin.
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