Will Tether Migrate To The Bitcoin Blockchain With Advances In The Lightning Network?

Bitcoin Magazine

The below is a direct excerpt of Marty’s Bent Issue #1183: “Tether has been sent via the Lightning Network” Sign up for the newsletter here.

Above is a video demonstration of the first ever Tether transaction over the Lightning Network executed by Corey Phillips from Synonym.

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For those of you who are unaware, Tether is a US Dollar stablecoin that lives outside of the incumbent financial system and is moved over cryptocurrency networks. Tether is centralized as it controlled by a company that keeps a reserve of USD and other assets (including bitcoin) that are reported to back each Tether one-to-one with a USD equivalent. The US government has been coming after Tether for years as they have successfully operated outside the traditional system while serving users around the world. All of this is to say that I would not recommend holding Tether unless it’s absolutely necessary to make a transaction.

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