circle us dollar backed stablecoin
Tether stable coin [USDT] has launched a new USDT contract on top of Tron Blockchain. The new token is a TRC-20 smart contract. The news was announced on Twitter by an official press release by Tron Foundation.
Although USDT was originally issued on Bitcoin blockchain through Omni layer, Tether started issuing USDT on top of Litecoin and Ethereum to increase the transaction speed. Now with Tron, Tether has been able to achieve near instant speed. Tron foundation also claims that transactions are virtually free.
Sticking to standard TRX way of promotion, Tron foundation is giving $20 million worth of Trc-20 based USDT to people who convert their old USDT to the new Tron based one. Exchanging requires sending the old USDT to a destruction address and be issued new TRX based USDT.
The promotion would last 100 days. Major cryptocurrency exchange such as BitForx, Huobi, OkEx will be initially supporting it. Binance hasn’t released a statement on whether or when they will be supporting the new USDT.
2019 is looking like the year for Tron. From a new blockchain update to an increase in throughput, Tron has had a productive year so far. Recently the number of address on the Tron blockchain surpassed 2.5 million, giving Tron a new milestone. Moreover, Tron is leading in the DApp race, with the number of DApps and Dapp users more than Ethereum.
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