The technical architecture and operational mechanism of USDT.

Yamini003

Here's the English translation:

1. Users deposit US dollars into Tether company's bank account.

2. Tether company creates individual Tether accounts for users and adds digital currency equivalent to the deposited US dollars into their accounts.

3. Users can trade USDT on exchanges or over-the-counter markets, or use USDT to purchase other cryptocurrencies.

4. Users can redeem an equivalent amount of US dollars in cash from Tether company at any time, and Tether company will destroy the corresponding amount of USDT.

Tether company claims that its fiat reserve accounts undergo regular audits to verify their ability to support the value of circulating USDT. Tether company also claims that all its transactions are recorded on a public blockchain, allowing anyone to check its issuance and circulation. In addition to USDT based on the Omni Layer protocol, Tether company has also issued USDT on other blockchains, including Ethereum, Tron, EOS, Algorand, and others. These USDT tokens on different blockchains are all pegged to the US dollar but use different technical standards and protocols.

Ritu13

I just need to know if holding it carries too much risk.

Kapil334

No chance. I don't use USDT, so I can't join.

Niti998

Almost every company has USDT now, and I'm very interested.

Indra55

USDT is a cryptocurrency, right? I often hear about it.