Tether expands into new blockchain networks…details here
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Answer Tether expands into new blockchain networks…details here
Tether announced Tuesday that it will launch its stablecoin, USDT, on the Polkadot and Kusama blockchain networks.
Tether said the launch schedule has yet to be determined because the parachine mechanism is still pending and under development.
The Parachains are individual blockchains that run in parallel within the Polkadot and Kusama system.
These networks can interact with each other and also with external networks such as Ethereum using a bridging system.
This flexibility helps address scalability, security, and interoperability issues of blockchain networks.
Tether will be launched for the first time on Kusama, a blockchain network spin off the Polkadot network.
The Kusama Blockchain helps projects prepare for deployment on Polkadot.
Read:The German Central Bank chooses a little-known crypto company to develop its reliance on the blockchain
Deafness Kusama Blockchain using Substrate which is a Blockchain Development Kit that has almost the same coding base as Polkadot.
Paolo Arduino, CTO of Tether, said:
Tether will likely launch in Statemint.
It was completed Advertising Reported by Statemint last month by developers Polkadot Parity Technologies.
Statemint will provide functionality to publish digital tokens such as stablecoins in the Polkadot and Kusama networks and help end users with lower fees.
Arduino added:
We expect to launch “Statement” in the next few months.
But the roadmap is not over yet, and all this is still in the planning stages.
We also continue to look at Kusama.
Kusama will theoretically allow us to begin testing Tether support on parachin even before the official launch of Statemint.
The launch of Tether USDT on Kusama and Polkadot will make the stablecoin available on a total of ten blockchain networks.
The digital stablecoin Tether “USDT” is currently available on both blockchains:
- Ethereum
- Solana
- Algorand
- EOS
- liquid web
- Omni
- you can see
- bitcoin cash
Ethereum is still the popular “USDT” network.
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Nearly $23 billion of USDT was issued on Ethereum, followed by Tron, worth close to $20 billion.
USDT has not gained much traction on other networks yet.
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