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Tether announced the release of its USDT stablecoin ticket on the EOS blockchain in partnership with Block.one
Tether adds EOS to Ethereum and the launch of TRON
In a press release posted on his website, Tether announced that EOS would be the next blockchain to host the USD Stablecoin after similar launches on Ethereum and TRON. An excerpt from the article reads as follows:
Following the widespread success of Tether on Omni and Ethereum, we are excited to announce the addition of EOSIO to the list of blockchain networks now supported by Tether.
Following the widespread success of Tether on Omni and Ethereum, we are excited to announce our launch on EOS.
Read the full announcement here: https://t.co/46ve3jk52x pic.twitter.com/xSfQVGx69a
– Tether (@Tether_to) May 31, 2019
According to this announcement, the company has developed the EOS smart contract for its stable site and before its deployment on the EOS account of the attachment system.
The statement also revealed that the speed of transaction processing and the increased scalability of the EOS blockchain were an essential part of Tether's decision to launch its stablecoin on the network.
In early 2018, Tether upgraded the Omni protocol to the Ethereum network with lower fees and shorter transaction times. Despite the many controversies surrounding the company and Bitfinex, the USDT remains the most widely used newsletter on the market.
Faster microtransactions and interoperability of the Blockchain
Commenting on the changing situation, Jean-Louis Van der Velde, Chairman and CEO of Tether, said:
We are excited to be able to present the next step in Tether's evolution. Combining the potential of Tether and EOSIO is another step towards block chain interoperability. Being at the forefront of this development is a fantastic feeling that further underscores our commitment to the maturation of the digital resource space.
Blockchain Interoperability: The ability to freely transmit data across different blockchain networks remains one of the fundamental goals of the emerging digital landscape. However, with blockchains using different consensus mechanisms, the emergence of a functioning interface still does not seem feasible, at least for the moment.
For Tether, creating USDT support on major platforms is part of the company's efforts to improve interoperability of the blockchain. In addition, the company states that such changes provide a framework that will improve the speed and efficiency of cryptocurrency microtransactions.
This new partnership highlights two companies apparently still in the limelight for negative reasons, with regard to the crypto news circuit. Although the alleged discretionary powers may differ in detail, they both refer to similar accusations of lack of transparency and decentralization.
Since the announcement of this launch, EOS 00 is up more than three percent. There may be no causal link between the slight price gain and the announcement as the Altcoin market has been in the green over the past 24 hours.
What do you think about the availability of Tether on several block chains for cryptocurrency microtransactions? Let us know in the comments below.
Images via Shutterstock, Twitter @Tether_to
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