Cryptocurrencies are volatile. While this volatility is good for speculators, excess volatility is an undesirable quality for an asset that should serve as a medium of exchange. Imagine accepting Bitcoin for your goods or service only to realise that the price has dropped by 15% in a few minutes. USDT is a cryptocurrency that is anchored to the US Dollar on a 1-to-1 basis and backed by reserves. This tether to the dollar makes it a stable and more convenient medium of exchange for day-to-day crypto transactions.
USDT exists in various forms. It exists in the Bitcoin network Omni Protocol. It exists as ERC20 tokens on the Ethereum network. In Tron, the TRC20-based USDT provides a stable coin for the network and TRON-based dApps. Tether also exists on the EOS blockchain which has a better infrastructure for dApps and which is more suitable for peer-to-peer transactions compared to the previously mentioned blockchains. With 98% of the trading volume, Tether has the lion’s share of the stablecoin market . Combining the stability of Tether and the free transactions, speed, scalability, and user experience of EOS.IO makes a formidable duo.
BOSCore recently announced that they now support USDT through the BOS.IBC contract. This contract allows users to transfer other cryptocurrencies into the BOSCore network. This is the second major cryptocurrency after EOS that users can freely transfer and use in the BOSCore network. Applications and users on BOSCore may use USDT and enjoy the benefits of stability that comes with a stable coin. USDT lovers, on the other hand, may now enjoy the interoperability and 3 seconds LIB of BOSCore which can facilitate (the fastest) on-chain payments with USDT.
Since USDT is available using many transport protocols (Bitcoin, Ethereum, Tron, EOS and BOS), it’s important to carefully check the addresses of the receiver when sending to confirm if the USDT the receiver wants is the Bitcoin, Ethereum, Tron, EOS or BOS standard.
There are a lot of things you can do with USDT now on TokenPocket. You can now buy USDT from Newdex.io exchange or do a token swap right on your TP wallet.
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