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How does Tether Mining works?

Tether, or USTD, is a blockchain-based digital currency.Tether was launched in July 2014 as “Realcoin”, and repositioned as Tether in November of that year by “Tether Ltd”.In practice, Tether trading began only in February 2015.In November 2017 after the merger (FORK) the system was hacked and $ 31 million was stolen.In spite of that, the system has recovered and has not lost public trust.Before 2019, Tether claimed that coins in circulation are backed by an equal amount of Fiat currency (“regular” coins such as Dollars, Euros or Japanese yen) and stored in a dedicated bank account. In March 2019 it changed the backing to include loans to affiliate companies.Tether’s tie to the to fiat currency differentiates it from other cryptocurrencies, its value is ‘tethered’ to the US dollar’s value – each USDT is worth $1. On the other hand, Tether Limited states that tether owners have no guarantee that tethers will be redeemed or exchanged for dollars.The currency was developed under the following vision:        Enabling international transfers        Enabling stable cryptocurrencyIt belongs to a new breed of digital currencies called “Stablecoins”:A new class of cryptocurrency, a medium of exchange and a source of value retention instead of being used as a speculative investment.Tether was specially designed to form the necessary “bridge”, the best of both worlds:“Regular” vs digital currencies, instant processing, and security or privacy of payments: Thus offering higher stability, more transparency, and minimal cost per transaction.