Introduction: Tether (USDT)

Iravan774

Tether USDT is issued by the centralized company Tether. Currently, there are three different types of USDT in the market:

Bitcoin-based USDT (issued on the Omni protocol)
Ethereum-based USDT (issued on the ERC-20 protocol)
USDT issued on the TRON network (Tron)
USDT, or Tether, is referred to as a stablecoin because it was initially designed to always have a value of $1.00, maintaining a reserve of $1.00 for each Tether issued.

Tether provides an optimal solution for Bitcoin traders and exchanges facing difficulties in traditional banking systems. USDT is a cryptocurrency asset used for Bitcoin blockchain transactions implemented through the Omni layer protocol. Each unit of USDT is backed by a reserve of US dollars held by the Tether company, and these funds can be redeemed through the Tether platform. USDT can be used for transfers, storage, and payments, similar to Bitcoin or any other cryptocurrency. Users can trade and store USDT between wallets supporting the Omni layer protocol, such as Ambisafe, Holy Transaction, or Omni Wallet.

The establishment of USDT and other Tether currencies aims to facilitate the circulation of national currencies, providing users with a stable counterpart to Bitcoin and supporting cash redemption and audits of wallet values that are currently not trusted. USDT ensures an alternative proof of solvency through its reserve of value.

Anyone can check the circulation status of USDT on OmniExplorer.info. The total amount of USDT at any given time represents the total amount of US dollars in Tether's current bank account, primarily responsible for users' cash purchases and redemption operations on the Tether platform.

To demonstrate that the amount of US dollars in the bank account equals or exceeds the circulating USDT amount, Tether company publishes the bank account information on its publicly transparent information page on the website. Professional auditors regularly verify, sign, and disclose bank balance information and financial statements. With the longest and most secure blockchain technology, we are part of an extremely secure and transparent system that provides users with a value-stable asset against national currencies like the US dollar.

977Iti

This is also something worth taking a look at.

Indra55

Your explanation is still very practical.

Iti9

Many people are now using USDT, and it's very convenient.

Kahn332

I don't quite understand this thing, and I need to learn it slowly. Thank you for the introduction.