Algorand

April

Security

Gold

Tether has officially stopped issuing new USDT stablecoins on the Eos and Algorand platforms. The company revealed this strategic shift in a recent blog post dated June 24. Over the next year, while it will no longer mint new tokens, Tether will continue to support redemptions on these networks. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Tether Announces Strategic Transition to Prioritize Community-Driven Blockchain Support Read more: <a href="https://t.co/UCL1MJt2WO" target="_blank">https://t.co/UCL1MJt2WO</a>— Tether (@Tether_to) <a href="https://twitter.com/Tether_to/status/1805209982171811949?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 24, 2024</a>
 </blockquote> 
 </div>
</figure> 
USDT Focus Shifts to Larger Ecosystems 
This decision comes as Tether reevaluates its presence across multiple blockchains. Despite Eos and Algorand hosting a very small fraction of USDT’s total volume, with Eos-based tokens <a href="https://tether.to/en/transparency/?tab=usdt" target="_blank" rel="noreferrer noopener nofollow">accounting</a> for roughly 0.06% and Algorand just 0.01%, the company is opting to streamline its operations.&nbsp; 
<a href="https://tether.io/news/tether-announces-strategic-transition-to-prioritize-community-driven-blockchain-support/" target="_blank" rel="noreferrer noopener nofollow">According</a> to Tether, this move will help focus resources on platforms that enhance the ecosystem’s security and operational efficiency. The change aims for minimal disruption, maintaining a focus on user experience throughout the transition process. 
Tether’s announcement noted, “We carefully evaluate the network’s security architecture to ensure the safety, usability, and sustainability of the chosen blockchain.”&nbsp; 
Expansion on Other Networks 
Meanwhile, Tether’s activities on other blockchains like TON are expanding. Since introducing USDT on TON in April 2024, Tether has issued approximately $500 million of its stablecoins on this network.&nbsp; 
This adaptation indicates Tether’s ongoing commitment to align with blockchain environments that support robust growth and innovation within the cryptocurrency market. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/17/tether-launches-alloy-with-fiat-stability-gold-security/" target="_blank" rel="noreferrer noopener">Tether Launches Alloy with Fiat Stability &amp; Gold Security</a> 
</blockquote>

Tether Discontinues USDT on Eos and Algorand for Efficiency

The Crypto Times

Други статии, публикувани на 24.06.2024 г.

Influencer Video Propels BlockDAG Presale to $53M; XRP Price Volatile While TON Blockchain Thrives

Bitcoin Whales Switching To Risk-Off Mode After $61,000 Crash

Here’s How Much Donald Trump Has Raised In Crypto Donations

Shiba Inu and Welly Strengthen Ties with New Italian Store

XRPL AMM Pools Surpass 10 Million XRP, Marking Milestone

Mt. Gox to Start $9B Bitcoin Repayments in July

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!