USDT currency is a stable digital currency issued by Tether (formerly known as Realcoin) and anchored 1:1 with the US dollar. The full English name is TetherUSD, also known as Tether currency. USDT currency was released in February 2015 and was listed on Bitfinex and Poloniex successively. The total supply is 4,270,057,493 USDT. fRvzhibi.com
The Tether company defines it in the "Tether White Paper: A Fiat Token Transacted Using the Bitcoin Blockchain" as: "Tethers is a digital currency linked to fiat currency. All Tethers are first issued in the form of tokens on the Bitcoin blockchain through the OmniLayer protocol. Each Tethers issued and circulated is linked to the U.S. dollar on a one-to-one basis, and the corresponding total amount of U.S. dollars is stored in Tether in Hong Kong. Limited (that is, one Tether coin is one U.S. dollar). With TetherLimited’s terms of service, holders can redeem/convert Tethers to their equivalent legal currency, or exchange them for Bitcoin. The price of Tether is always linked to the price of the legal currency, and the amount of its linked currency is always greater than or equal to the amount of currency in circulation. In terms of technology, it continues to follow the characteristics and functions of the Bitcoin blockchain.
The issuance and trading of USDT coins uses the Omni (formerly Mastercoin) protocol, and Omni coins can be said to be the first 2.0 currency on the market based on the Bitcoin blockchain. Therefore, USDT’s transaction confirmation and other parameters are consistent with Bitcoin. The issuance of USDT subsequently supported the Ethereum and TRON networks. fRvzhibi.com
According to Craig Sellars, CTO and co-founder of Tether, users can wire USD via SWIFT to a bank account provided by Tether, or exchange for USDT through the Bitfinex exchange. When redeeming U.S. dollars, just reverse the operation. 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 token issued, its bank account will have 1 US dollar of funds guaranteed. fRvzhibi.com
In terms of compliance, all operations involving legal currency require users to complete KYC certification. When asked how users can verify the bank account margin, Craig said that the legal currency is kept by TetherLiminted and has regular audits, but currently users cannot directly query the margin. Therefore, USDT is also recognized as a centralized digital currency asset with the risk of fraud or escape. However, the current trading volume of USDT is still the largest among all stable virtual currencies. USDT currency can be purchased with legal currency on major over-the-counter OTC platforms. For example, Huobi and OKEx both support over-the-counter transactions of RMB against USDT. fRvzhibi.com
Introduction to the USDT founding team: fRv Zhibi.com
The team's CTO is Craig Sellars. fRvzhibi.com
Tether’s price today is $1.00, and its 24-hour trading volume is $957.132 million. Tether has fallen 0.1% in the past 24 hours. It currently ranks 7th in the market value of Beecha, with a market value of 66.3264 billion USD. Its total circulating amount is 66.2476 billion USDT, and its issuance is 66.2476 billion USDT. fRvzhibi.com
