Polkadot’s network prepares to welcome Tether USDt | CryptoSlate

CryptoSlate

Polkadot’s network prepares to welcome Tether USDt | CryptoSlate

Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more.

Start Earning Interest

Tether revealed that its stablecoin, USDt, will soon run on top of the Polkadot blockchain. 

· 2 min read

Polkadot’s network utility is about to experience a significant boost. With the upcoming parachain rollout, the protocol will finally realize its scalable multi-chain architecture. 

Although the new functionality is currently running on a testnet, developers are already preparing for it. 

Enjin recently announced the launch of a next-generation NFT blockchain on the Polkadot network called Efinity. The project is set to enable highly scalable transactions for games, apps, enterprises, and creators. Thanks to the protocol’s speed, developers expect to process transactions every six seconds under a proof-of-stake consensus algorithm that can scale to 1,000 transactions per second.

How To Get Free Crypto  

Now, Tether revealed that the world’s largest stablecoin in the market, USDt, will be running on top of the Polkadot blockchain. 

Paolo Ardoino, CTO at Tether, said that the network’s infrastructure to provide an environment for cross-chain composability of multiple applications and protocols made it ideal to offer access to “the most liquid, stable and trusted stablecoin.”

“Polkadot is one of the most exciting projects in the digital token ecosystem and we anticipate a ready uptake of the Tether token as it powers Polkadot’s emerging DeFi ecosystem. Polkadot, with its parachain structure, has the ability to grow significantly in the coming years. This growth will be driven by its high level of scalability,” said Ardoino. 

USDt will go live first on Kusama to serve as a value-bearing testbed before the launch of Polkadot. 

Trading veteran turn bullish on DOT

While the Polkadot ecosystem is expected to grow exponentially following the parachain launch, DOT’s price is living up to all the hype. 

According to 40-years trading veteran Peter Brandt, the fifth-largest cryptocurrency by market capitalization has broken out of a symmetrical triangle that developed on its daily chart. Following a month-long consolidation period, DOT was able to slice through the $39 resistance level recently. 

Coinbase Banner  

DOT/USD on TradingView

If the bullish momentum behind Polkadot continues, it would likely continue rising towards a new all-time high of over $55. This target is determined by measuring the height of the triangle’s y-axis and adding that distance to the breakout point. 

Get an edge on the cryptoasset market

Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Like what you see? Subscribe for updates.

Go to Source
Author: Ali Martinez


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.