Tether will launch steblecoin on Algorand block

Tether will launch the USDT token on the Algorand blockchain. Thus, the new asset will join the Tether family of steakblocks on Bitcoin, Ethereum, EOS and Tron blockchains.

For further development of the global digital asset space, it’s not a problem . https://t.co/fPKVqcL3JF

– Tether (@Tether_to) July 17, 2019

Note that Tether management considers crosschain compatibility to be crucial for long-term success of the USDT. For this purpose, the USDT will be launched on the sidechain side of the Bitcoin Liquid Network and the Lightning Network protocol by the end of the year.

Startup Algorand was founded by a professor at the Massachusetts Institute of Technology (MIT) and the Turing Award winner Silvio Micali. Last February, the company raised $ 4 million from Pillar Venture Capital and Union Square Ventures, and in October – $ 62 million from an unnamed global investment group.

Algorand has already successfully held a $ 60 million token offering on CoinList platform this spring.

The startup has developed a public blockchain based on Proof-Of-Stake, which allegedly processes 1000 transactions per second with a delay time of less than 5 seconds.

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