What Is USDT（Tether）?
In late November 2014, Realcoin, a company registered in the Isle of Man and Hong Kong, was renamed Tether. When it was released in February 2015, it cooperated with the largest trading platform for Bitcoin futures trading volume.
Bitfinex announced support for TEDA (Called USDT) trading. The competitive trading platform Poloniex exchange also supports USDT. With the strong rise of Ethereum, P-network has a leading position in the competition currency trading platform, and also carries the USDT trading volume.
The issue and transaction of the USDT is based on the Omni (formerly Mastercoin) agreement, and the Omni currency is arguably the first 2.0 currency based on the Bitcoin blockchain. Therefore, the USDT transaction confirmation and other parameters are consistent with Bitcoin. According to Tether's CTO and co-founder Craig Sellars, users can wire the US dollar to the bank account provided by Tether through SWIFT, or exchange the USDT through the Bitfinex exchange.
When redeeming the dollar, the reverse operation is sufficient. Users can also exchange bitcoin for USDT on the above two websites. Its website claims to strictly adhere to the 1:1 reserve guarantee, that is, for every USDT Coin issued, its bank account will have a $1 guarantee. In terms of compliance, all operations involving legal currency require users to complete KYC certification. When asked how the user verified the bank account deposit, Craig said that the legal currency was kept by Tether Liminted and had regular audits, but the user is not currently able to directly check the deposit.
At present, USDT's trading volume is the largest in all stable virtual currencies.
USDT is equivalent to the dollar, 1USDT=1 dollar. Each currency = how many USDT, which is the same thing as its unit price is how many dollars.
Because TEDA is supported by legal currency, users can still trade on the block chain asset market without being affected by price fluctuations in most block chain assets.
Tether, the issuing company of TEDA, claims that its currency storage accounts are regularly audited to ensure that each TEDA currency in the market has a corresponding dollar. The status of the stored account is public and can be queried at any time. In addition, all TEDA transaction records are posted on the public chain.
Publish Time:November 26, 2014
Total Circulation:2.08 billion