Since July 4, Binance changes the standard address of Tether (USDT) tokens from OMNI to ERC20

The Binance Cryptocurrency Exchange reported this Wednesday that the possibility of depositing / withdrawing funds in the USDT steylcoin will be unavailable on July 4 for about 30 minutes.

The company explains the need for a break in service by replacing the deposit OMNI addresses currently used with ERC20 addresses . In the future, ERC20 addresses will be used by default.

Users will still be able to deposit at OMNI addresses that were created before. Outputting USDT to OMNI addresses after the update will no longer be available.

“The reason: the number of those who use OMNI-addresses is small. We are following users' demand , ”commented today's CEO Binance Changpen Zhao in his Twitter comment.

Earlier, the technical director of the Bitfinex exchange Paolo Ardoino also reported on the growth in popularity of the Ethereum- based USDT (ERC20) in front of the USDT on the OMNI protocol.

According to information on the Tether website, the USDT capitalization on the Ethereum blockchain has already exceeded $ 1 billion by today.

Publication date 03/07/2019
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