The stablecoin Tether (USDT) has successfully been launched on the open-source blockchain platform Solana. According to a press release issued on Wednesday, September 9, 2020, stablecoin Tether’s USDT coin is now available on the Solana blockchain.
Tether now integrates with Solana
Tether has announced in a press release that its stablecoin USDT has launched on the Solana blockchain. Solana protocol which was developed by Solana Labs is much more fast and cheap as compared to the Ethereum blockchain according to the claim of its developers.
According to Tether, Solana will provide greater speed to users giving them the opportunity to exchange their USDT coins at the speed of over 50,000 transactions per second. While on the other hand, the Ethereum blockchain can only support 15 transactions per second with a fee of over $2.5 per transaction.
While sharing his view on this integration with the Solana blockchain, the Chief Technology Officer of Tether Paolo Ardoino said:
Also read:“Our integration with Solana serves a growing ecosystem of projects that are now getting developed and launched on Solana, Serum being a notable example.”
“Tether is the life blood of DeFi”
The CEO and Co-Founder of the Solana blockchain, Anatoly Yakovenko believes that Tether has great importance in the cryptocurrency community and says that it is the ‘life blood’ of decentralized finance (DeFi). Yakovenko said:
“Tether is the life blood of DeFi, and an important pillar of the crypto community at large. In order for developers to leverage the real potential of Solana, an integration with USDt was absolutely essential. Solana was originally designed to support thousands of transactions at Nasdaq speed. Today, with Tether’s support, Solana is finally capable of realizing that dream.”
After its integration with the Solana blockchain, the stablecoin is now supported on eight different blockchains. The other seven blockchains where USDT is available are the Ethereum blockchain, Algorand, Liquid Network, OMG Network, the Tron blockchain, Omni, and the EOS blockchain. These are the eight blockchains where the Tether stablecoin is now working.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.