News
Tether (USDT) shifts focus to community-driven blockchain support
Tether, the issuer of the widely used stablecoin USD₮ (USDT), has announced a strategic transition to prioritize community-driven blockchain support. Second tether.iothe company will discontinue support for EOS and Algorand implementations.
Evaluation of transport levels
In an effort to maintain a robust and innovative blockchain ecosystem, Tether continually evaluates current transportation levels. The company aims to balance maintainability, usability, and community interest in its blockchain selections. A key part of this assessment involves evaluating the security architecture of potential networks to ensure security, usability and sustainability.
Community-focused approach
Community interest is a crucial factor for Tether when deciding to bring USD₮ to specific blockchains. The company aims to allocate resources to improve security and efficiency, while promoting innovation in the cryptocurrency landscape. Tether encourages the community to expand USD₮ use cases across every supported protocol.
Disruption of EOS and Algorand
After careful consideration, Tether will stop minting USD₮ on EOS and Algorand starting June 24, 2024. However, the company will continue to redeem USD₮ on these platforms for the next 12 months. Additional changes may be evaluated and announced at that time.
Transition plan
Tether assures its community that the transition will be meticulously executed to minimize disruption. The company’s main focus remains on offering a smooth user experience. Tether expresses gratitude for the continued support and trust from its community, underlining that this transition is a step towards a more sustainable and democratized financial system.
As the cryptocurrency landscape evolves, Tether’s strategic shift highlights the importance of community-driven innovation and support in maintaining a secure and efficient blockchain ecosystem.
Image source: Shutterstock