Tether (USDT)

1. Tether (USDT) information

First publication July 2014
Block generation cycle 10 minutes
Total issuance limit Unlimited
Consensus Protocol Proof-of-Reserve
Developer Brock Pierce and Craig Sellars
Main homepage https://tether.to/

2. Tether (USDT) overview

  • Tether (USDT) is a cryptocurrency founded by Brock Pierce and Craig Sellars and issued by Tether Limited, a Hong-Kong based company. Tether is a blockchain-based cryptocurrency whose crypto coins in circulation are backed by an equivalent amount of traditional fiat currencies. It is pegged against the U.S. dollar and maintains a 1-to-1 ratio with the U.S. dollar in terms of value.

3. Characteristics of Tether (USDT)

  • The token’s peg to the USD is achieved via maintaining a sum of dollars in reserves that is equal to the number of USDT in circulation. This ensures that USDT is fully backed by cash and cash equivalents.
  • Initially, Tether was launched as ‘RealCoin’ in July 2014, then renamed later on to USTether, and then finally, to USDT. Tether belongs to a new breed of cryptocurrencies called stablecoins. There is no allocated amount on the total supply of USDT and it is available on diverse cryptocurrency exchanges.