Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => USDT Forum => Topic started by: Malam90 on March 12, 2021, 02:28:42 AM
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Tether's integration with the Solana blockchain is intended to help support a range of projects in DeFi, blockchain gaming and Web 3.0.
Stablecoin issuer Tether has announced that USDT tokens are launching today, March 9, on the Solana (SOL) blockchain. Speaking to Cointelegraph, Tether's chief technical officer said that the integration with the layer 1 blockchain promises to support a wide array of projects in the Decentralized Finance, or DeFi, sector and other Web 3.0. activities.
As previously reported, Solana is being pitched as a competitor to Ethereum, with the hope of drawing DeFi actors into its network as they wait for the full benefits of Eth2 to finally kick in.
According to Tether, Solana will enable users to transact USDT at speeds higher than 50,000 transactions per second. It also claims that transaction fees could be as low as $0.00001 each and that this lower-cost, higher-speed alternative to Ethereum will provide a boost to new applications and projects in the DeFi space. Tether has already integrated with multiple blockchains alongside Ethereum, among the Algorand, EOS, Liquid Network, Omni and Tron. Source Link (https://cointelegraph.com/news/tether-tokens-go-live-on-ethereum-competitor-solana-blockchain)
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Indeed, for Ethereum this is a super power and it is certain that it must have competitors that are commensurate with it and Solana must be able to compete with Ethereum.
There are so many competitors who continue to face Ethereum but no one has been able to compete with it so fiercely, hopefully Solana will be able to compete with Ethereum by using tokens from Tether whose transaction fees are very cheap.