Tether has, since its inception in 2014, acted as an integral part of the blockchain ecosystem through the strategic intersection of traditional and distributed finance. On a quest to transform legacy markets through the creation of stable and secure blockchain-based assets, Tether has rapidly grown to become the most widely-used stablecoin protocol.
To further pioneer collaboration and interoperability within the growing digital asset space, and to add to the existing applications on Omni, Ethereum, Tron and EOS, we are proud to announce the upcoming deployment of Tether on the Algorand blockchain technology.
With their quest for an equitable, inclusive and borderless economy, Algorand provides the perfect platform upon which to further the impact of Tether.
The Powers of Algorand
By deploying Tether on Algorand, we take further steps to drive the potential of a blockchain-based ecosystem built around unconstrained, peer-to-peer value exchange.
Algorand is working to pioneer public, permissionless proof-of-stake blockchain with an open-source approach to deliver on the vision of a borderless economy. The Algorand consensus mechanism is developed to promote open participation, security and performance within a network that is decentralized by design. With consensus on a new block being reached as fast as the block can be propagated throughout the network, Algorand’s transaction throughput is on par with large payment and financial networks, all securely scalable to billions of users.
“Extending Tether into the Algorand ecosystem is a fantastic opportunity for us to further contribute to blockchain interoperability and collaboration. Algorand is an excellent team very much aligned with ours; we are proud to take this next step with them. We are very excited about the potential this enables for other projects in the decentralised ecosystem and we eagerly await working closely with many of them in the future.” commented Tether CTO, Paolo Ardoino.
We are thrilled to be embarking on this journey with the excellent Algorand team, contributing directly to the further growth and dissemination of blockchain-based value transfer. To learn more about the Algorand Foundation and their work, visit Algorand.Foundation
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