Learn Crypto and Blockchain

Welcome to the Phemex Academy: a free, comprehensive and unbiased resource for blockchain-related knowledge
Crypto Academy
Phemex Blog
Phemex Crypto Blog: Learn the latest news, updates, and industry insights on bitcoin futures, bitcoin trading, crypto derivatives exchange, and related blockchain technology.

USDT (TetherUS)

Author: Nicolas Tang

TetherUS Project Description

Project Name: TetherUS

Token Name: USDT

Contract Address:

0xdac17f958d2ee523a2206206994597c13d831ec7

Project Introduction

USDT is a crypto-currency asset issued on the Bitcoin blockchain via the Omni Layer Protocol. Each USDT unit is backed by a U.S Dollar held in the reserves of the Tether Limited and can be redeemed through the Tether Platform. USDT can be transferred, stored, spent, just like Bitcoin or any other cryptocurrency. USDT and other Tether currencies were created to facilitate the transfer of national currencies, to provide users with a stable alternative to Bitcoin and to provide an alternative for exchange and wallet audits which are currently unreliable. USDT provides an alternative to Proof of Solvency methods by introducing a Proof of Reserves Process.

In the Tether Proof of Reserves system, the amount of USDT in circulations can be easily checked on the Bitcoin blockchain via the tools provided at Omnichest.info, while the corresponding total amount of USD held reserves is proved by publishing the bank balance and undergoing periodic audits by professionals.

Token overview

Total Supply:2.83 billion

Current Circulation:2.507 billion

Tether Official Website: https://tether.to/

Whitepaper https://tether.to/wp-content/uploads/2016/06/TetherWhitePaper.pdf

Twitter

Facebook


_____________________________________
For any inquiries contact us at support@phemex.com .
Follow our official Twitter account to stay updated on the latest news.
Join our community on Telegram to interact with us and other Phemex traders.
Phemex, Trade Simple

Was this article helpful?

Related Articles