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USDT is a quite particular cryptocurrency technically speaking. First, its operation is directed and orchestrated on the Omni protocol, that runs embedded on a blockchain. As a result, This cryptocurrency inherits the properties of the tokens of said blockchain and benefits from the capabilities it offers.
One of the main technical characteristics of USDT is given by the way in which the flow of money between tokens and fiat currencies is managed. This is a process that broadly can be divided into five stages. These stages have specific functionality and are as follows
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Tether (USDT) is what's known as a “Stablecoin” – a cryptocurrency designed to provide a stable price point at all times. The USDT cryptocurrency was created by Tether Limited to function as the internet's Digital Dollar, with each token worth $1.00 USD and backed by $1.00 USD in physical reserves..
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Tether aims to provide a “safe” digital asset that maintains a stable valuation. That’s what makes USDC a stablecoin, whose value is pegged to the price of the U.S. dollar..
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When a user deposits fiat currency into Tether’s reserve, selling fiat to buy USDT, Tether then issues the corresponding digital amount in tokens. The USDT can then be sent, stored or exchanged.
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The roots of Tether date back a decade, to when J.R. Willet was looking to build new cryptocurrencies on the Bitcoin protocol. Willet implemented this idea with Mastercoin
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Despite stablecoins being a popular choice among crypto traders, Tether has some additional controversies regarding liquidity issues and whether its reserves are adequate to cover
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Tether and TerraUSD (UST) are both stablecoins pegged to the U.S. dollar, but the two cryptos maintain their value using completely different methods.
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