Review on Tether by phuong cong
''Fed in Crypto'' and it is the No 1 stablecoin platform
Tether is a platform that allows Fiat currencies to be used on Blockchain by converting these Fiat currencies into the corresponding tokens, most notably USDT tokens.
Tether was developed by a company of the same name.
Fiat supported by the platform include USD, EURO and CNH.
Tether's founders include Brock Pierce along with two other members, Reeve Collins and Craig Sellars.
They initially took the name Realcoin then renamed it Tether, initially Tether ran the name of the Bitcoin blockchain platform
Later, Tether ran on a variety of platforms including ETH, EOS, TRX and the latest SOL.
Tether USDT is listed first on the Bitfinnex exchange with large trading volume.
After just 6 years, Tether with USDT becomes the stable coin with the largest market capitalization and is traded on most cryptocurrency exchanges.
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Pros
- It has a large market cap compared to other stablecoins
- Tether supports the preservation of fiat currencies including USD, EURO, JYP and CNH
- Great liquidity and it is listed on most major exchanges
- Fiat money is guaranteed a clear supply with the patronage of big banks
- Supports multiple Blockchain platforms such as Omni, ETH, TRX, EOS, SOL
Cons
- During the operation, Tether encountered many doubts of the community about the authenticity of the Fiat reserve money
- Relationship with exchange Bitfinex also caught the attention of the community, claiming that both were manipulating the market with Bitcoin's 2017 bullrun
- Tether also met many lawsuits and was hacked in 2017
