One of the Leading stablecoin by market valuation, Tether (USDT) is all set to launch on EOS blockchain. Tether has succeeded in providing digital markets with blockchain-agnostic stability and value. And it continued to dominate the stablecoin market, with 98.7% of stablecoin trading volume.
Following the success of Tether across Ethereum and Omni. The platform is delighted to announce the addition of EOS IO to the list of blockchain networks supported by Tether.
The addition of EOS IO to Tether represents a monumental step towards comprehensive blockchain interoperability and the long-term maturation of decentralised applications.
Bitfinex CTO Paolo Adoino claim that:
This is to supplement eosfinex, a decentralized cryptocurrency exchange built on the EOS protocol “One of the main reasons is that we need it for eosfinex. Since it is an on chain exchange we need Tether EOS to offer EOS/USDt and crypto-to-stablecoin pairs on it. EOSFinex is one of the most awaited projects in the EOS community. But we thought it would be good to start giving everyone the ability to build on Tether-EOS even before EOSFinex launch,”
According to this partnership, Tether strives to unlock the true potential of a blockchain-based stablecoin by appealing to individuals seeking a borderless, efficient, and free peer-to-peer value transfer.
By staking for network resources, EOSIO software removes network transaction fees. And, by allowing block producers to spend more computation power on processing transactions, EOSIO allows for the network to run with reduced block-spacing and significantly higher throughput.
These innovations make EOSIO an ideal blockchain for issuing Tether. Tether on EOS IO thus provides a stablecoin with the preconditions necessary for a thriving peer-to-peer micropayment infrastructure.
Tether CEO Jean-Louis Van der Velde said
“Combining the potential of both Tether and EOSIO is a further step towards blockchain interoperability, and being on the forefront of this development is a fantastic feeling which further highlights our dedication to the maturation of the digital asset space.”
The mainstream adoption of digital currencies for micropayments is right around the corner. Combining the brand recognition of Tether with the power of EOSIO software creates an exciting opportunity to build a truly valuable and lasting framework.
following this partnership Tether coin price has slightly increased by 0.54% with trading value $1. What’s on your view on the partnership? Share with us on any SM Twitter | Linkedin | Facebook | Instagram.