Tether is a special kind of cryptocurrency in that its value is anchored to the U.S. dollar. That means it allows
people to store their USD in a cryptocurrency that doesn’t see the same kind of volatility other cryptocurrencies see on a daily basis.
Traders, especially, can store their money in Tether whenever the market is going down, taking the value of all cryptocurrencies with it.
When the market is showing signs of recovery, they can start trading other cryptocurrencies again.
The company behind Tether claims the coins are backed 1-to-1 by USD reserves and that its holdings are published daily and frequently audited. However, the company also says it won’t convert your Tether coins to USD itself. You will have to exchange your tether to other currencies via online exchanges.
Tether was recently hacked, and almost $31 million was stolen. Some speculation points to the hacker being
the same person or group of people that previously hacked the European Bitstamp cryptocurrency exchange
Max Supply: –
Circulating Supply: 1,856,421,736
Total Supply: 2,580,109,502
Cryptographic Algorithm: –
Issue Price : 2014-11-26
Source Code: –
Issue Price: –
White Paper: https://resource.bnbstatic.com/books/20180301/1519893458876.pdf
Consensus Protocol: –
Explorer 1: https://omniexplorer.info/asset/31