Skip to main content

Tether (USDT) launches on Kusama

 


Tether (USDT), whose market capitalization of over USD 82 billion makes it the largest stablecoin in the world, was launched on the Kusama network.


Launch on Polkadot's "Canary Network" brings the pioneering dollar-pegged stablecoin to yet another blockchain.


Currently, USDT is live on ten major blockchain platforms including Ethereum, Tron, Solana, EOS, Liquid Network, Omni, Algorand, and Bitcoin Cash's standard ledger protocol.


Driving transactions on Kusama's Statemine

Kusama, a scalable, multi-chain network of specialized blockchains, provides a platform for developers to run experimental projects in the Polkadot ecosystem. The network's first parachain, which is a single blockchain running in parallel within the broader Polkadot ecosystem, is Statemine.


USDT will now be used to power transactions on Kusama's Parachain Statemine, Tether said in an announcement .


Statemine is a type of "public good parachain" designed to keep the balance between all fungible and non-fungible tokens deployed within the network. Statemine allows developers to deploy various assets including tokenized artworks and stablecoins.


Mainly, the parachain has helped strengthen the scalability and security of the Kusama network. It is also instrumental in improving blockchain interoperability.


Beneficial for developers

The launch of Tether on Kusama is a milestone for both the stablecoin and the cryptocurrency platform. It's a move meant to open up the blockchain for developers to explore interoperability to the fullest.


“ We are excited to launch USD₮ on Kusama and provide its community with access to the most liquid, stable and trusted stablecoins in the digital token space, ” said Paolo Ardoino, CTO of Tether, in the press release.


He added:


“ For those who believe in the importance of decentralized, permissionless ecosystems, Kusama is a perfect representation of that ethos. It's a platform designed to put control in the hands of its users, and we look forward to becoming an integral part of their growing ecosystem ."


With USDT's ease of use and accessibility, developers can now take advantage of multi-chain capability and build trusted applications that can be used across blockchains.


Kusama (KSM) is trading at $161 at the time of writing, up about 4.1% over the past 24 hours.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

  Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...
Post a Comment
Read more

Cardano: This is the vision that founder Charles Hoskinson has

  The Altcoin Cardano has tended to decline in recent weeks.  The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment.  Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency  Cardano  has had a difficult few months.  While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months.  Cardano is faced with some difficulties.  The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment.  The upgrade should make it possible to use smart contracts on the cryptocurrency as well.  It soon turned out, however, that although these were entered into Cardano,...
Post a Comment
Read more