Name: TetherAcronym: USD ?, EUR ?, JPY ?Type: Financial AssetsLaunch Date: December 2014Website: https://tether.to/Description:Tether, previously known as RealCoin and was an ordinary altcoin, rather popular with traders, but not so much as to compete with Litecoin, Namecoin or other cryptos. Tether leaders decided to change their name to have a positive impact on their business and they were right!Simplifying to the maximum, Tether could be described as a service that transforms the dollar, the euro and other feds into digital currencies that can then be exchanged using Blockchain technology.The variants Tether-euro (EUR ?) and Tether-yen (JPY ?) also exist.Are you wondering how the “1 $ = 1USDT” rate is maintained? It is relatively simple to understand: everything is based on a balance between the total amount of USD present on Tether’s account and the number of USDTs in circulation. To prove it Tether is totally transparent on the amounts in its possession, investors can check it themselves on their site. The number of tokens (USDT) in circulation therefore has no limit, so the higher the demand, the more this total will increase.
Its market cap is ?93,948,753,480.50 in January 2018, proving the excitement around this currency on trading platforms. Its price today i.e 11 January 2018 at 3.
00 pm IST is ?67.7594.10 Things investors need to know about Tether (USDT)10 -> Issued on the Bitcoin Blockchain via the Omni-layer protocol, each USDT is backed by a dollar located in the reserve assets of Tether.to. Tether to. is the first blockchain-enabled platform that favors the use of flat currencies.9-> Tether has announced the move of the USDT to the blockchain Ethereum via a statement. According to the latter, the USDTs launched on Ethereum are compatible with the standard ERC20 which, it is recalled, is a standard that allows to interconnect digital portfolios, smart contracts and several types of tokens.
8-> The Tether team also confirms the launch of new tokens: the EURT. As the name suggests, the new Tether token is this time pegged to the euro, meaning that one EURT will always be equal to one euro.7->The main reason for this migration is the slowness of the Omni protocol which uses the Bitcoin network. Indeed, the Tether suffered a slowdown in terms of transactions owing to which the team focused to migrate to ERC20 Tether.6-> On the Ethereum network which is becoming more and more popular, transactions will be much faster and with reduced fees.5-> The ERC20 Tether will have comparatively much lower network transaction fees and much faster confirmation times (15-30 seconds) compared to Tether on Omni.
This will make exchange arbitrage more efficient and several other partner exchanges are already working on the integration of the new Tether tokens.4->These are not real money, they are digital tokens that have been formatted to work on blockchains. Tether is supported by trading platforms such as Bitfinex or Kraken.3->Behind these tokens is Tether Limited, a Hong Kong company with offices in the United States named Huobi.com.2->Tether Limited indicates that these tokens will be associated with “much lower network fees, and much faster turnaround times”.
It believes that this will allow it to offer greater liquidity to the markets, and help investors to take advantage of potential arbitrage opportunities that may arise between the platforms.1-> Bitcoin price volatility is often cited as the main reason for skeptics who refuse the denomination of “money” to this new class of digital asset. Indeed, the strong price variations repeatedly suffered by cryptocurrencies raise questions about the impropriety of their use as a transactional tool. As most economic players can not tolerate the foreign exchange risk associated with these assets, a solution has emerged to limit these fluctuations: the tether.