The market cap of Tether is around an all-time high, ~ $35 million, #11 overall, and probably will keep increasing. I know there are issues in that it is backed by USD, so they have to maintain physical security, etc.
But what maintains the security of the USDT network, hacking attempts, and so forth? I do not think there is mining like bitcoin mining. Tether layers on top of the bitcoin network using the omni protocol, but does that mean the security can somehow be piggybacked on bitcoin security? Or does it have to do with the number of users on tether, as more ppl use it, the security increases?