Professor @yohan2on asks us to write a research paper on any of the stable cryptocurrencies (Dai, Sbd, Tether). I will write a home review about Tether from stable cryptocurrencies.

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First Stable Cryptocurrency = Tether

Tether is a blockchain-based cryptocurrency whose value is often fixed at $ 1 (USD). It is traded in the industry with the USDT symbol and is also known as USD Tether. It was considered fixed money because of its fixed value.

It appeared in 2014 under the name RealCoin. However, after 1 year, it was rebranded in 2015, and the name Tether was switched. Due to some major problems of the crypto money industry, it managed to reach billions of dollars in market value in a short time. You can digitize the money in your bank account and transfer it to any user thanks to the so-called stable crypto currencies that can be exchanged with fiat currencies such as Dollars and Euros. With stable currencies, it became possible to protect against negativities such as high volatility in trading platforms. Tether remains the most popular among stable cryptocurrencies (USDC, DAI, etc.).

Stability, Transparency, Low Transaction Fee

Tether acts as a link between real money and cryptocurrencies due to its feature. Most of the transactions made with Bitcoin, in terms of market volume, are made with Tether. This proves how powerful Tether is. Tether ranks 4th in the market volume ranking.

It is possible to say that Tether provides a great convenience in online payments and trade between companies.

Many commercial centers prefer to stay away from cryptocurrencies due to high volatility in cryptocurrencies. Because the price of crypto coins is constantly changing. USDT has been able to meet the need in this area due to its unique feature.

How Does Tether (USDT) Work?

It is the most preferred crypto currency as a means of payment in daily transactions, trade. The company behind the stable cryptocurrency is thought to hold USD as much as USDT in circulation. In other words, the company acts like a trusted broker. Tether, the stable crypto currency, was first produced in the Omni protocol, which is connected to Bitcoin. However, due to the negative features in the Bitcoin network (scalability, high transaction fee), Tether is now being produced on networks such as Ethereum, Tron and EOS, which have smart contract writing capabilities.

Where or How is Tether (USDT) Stored?

As I mentioned above, Tether is produced in many networks. e.g

In order to make transactions on the Omni protocol, it is necessary to store it in wallets that support the Omni network. If you want to use ERC20-based Tether produced in the Ethereum network, you need to use Tether (USDT) and ERC20-based wallets (MetaMask, MyEtherWallet). If you want to use Tether produced in the Tron network, you need to use TRC20-based wallets (Tronlink). The most important thing to know here is; In which network you will use Tether, you need to choose a wallet suitable for that network.