What is Tether?
Tether limited released a controversial stable coin known as Tether, which is intended to have a constant rate of $1. Tether uses Omni layer protocol to operate on a Blockchain’s core. This system lets the coin be converted to national money like USD, Yen or Euro. Tether’s resources are announced every day and are available to all interested people. Tether limited has posted a warning about the USDT saying that it isn’t a financial instrument so there aren’t any guarantees that there will be no losses of the coin. Their team ensures that the coin is 100% baked from the US Dollar. If this is right, then it indicates that Tether is really able to act as a substitute for a dollar in the crypto world. One principal problem of this coin is that although it operates on the blockchain it is not a distributed smart contract, so all the processes are controlled by people, who want us to trust them. This actually began managing as over 20% of cryptocurrency markets have adopted coin as a substitute for USD. Despite the point that it isn’t a decentralized chain, Tether is a really useful stable coin. The most useful case of the coin is that plenty of investors are keeping their finances in a tether while they are trying to find the right time to invest in some new ICO or IEO.