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Tether, as an analog of the dollar

Cryptanalog of the dollar – Tether
Cryptanalog of the dollar – Tether

A distinctive feature of the cryptocurrency called Tether is its direct binding to the classic monetary units. In reality, this looks rather interesting, because in the same network, Teaser is converted with one-to-one fiat currencies. As a result, users own coins that have their own markers. For example, the transfer of the cryptocurrency into dollars is positioned with the symbol USD ₮, and in EUR, respectively, EUR ₮. The sale of its own payment unit, followed by an audit of reserve accumulations, enables the platform to guarantee investors a certain level of reliability and security of their assets.

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Work principles

The purpose of Tether will be the implementation of payments and the exchange of cryptocurrency, through the Blockchain technology. The fixed value of monetary units and ease of conversion reduces the costs associated with the commission when working with conventional banking products.

All transactions with coins are managed by Tether Limited, which acts as a regulator of transactions using a chain of blocks. In this case, the Omni data processing protocol and the wallet of the same name are used, serving as a store of user tokens. Using this virtual purse, you can carry out any money transactions, while still being confident in the security of transactions.



Given that digital coins can be viewed as ordinary money, many financial institutions have started using Tether as a virtual currency. Tether is represented on all major cryptocurrency exchanges, and serious traders work with this settlement mechanism. The cumulative volume of coins is approaching the mark of one billion units, which, with the increase in demand, will cause a certain agiotage and lead to an increase in the cost of existing tokens.

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To date, there are a number of issues related to charges of network developers in money laundering and the issuance of anything unconfirmed coins. An independent examination of the activities of the investment company itself, which manages the platform through its website, will help clarify the picture with possible fraud.

Editor: Yuliya Soroka

#Tether #Omni #cryptocurrency



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