World Giant Tether Abandons Blockchain Plan: There Are Better Ones!
Tether, the world's largest stablecoin, has given up on launching its own blockchain.
According to the news reported by Bloomberg, Tether has given up on launching its own blockchain, saying "it's okay to exist wherever is most secure."
In a world where crypto entrepreneurs are competing with each other to launch blockchains, Tether has decided against it, regardless of whether there are viable use cases or not.
Tether Holdings, the issuer of the world's largest stablecoin USDT, toyed with the idea of launching its own distributed ledger, but later canceled the plan. Its CEO stated that the reasoning involves the simplest equation in economics: supply and demand.
"We are very good at technology, but I think blockchains will almost become a commodity in the future," Tether CEO Paolo Ardoino said in an interview with Bloomberg News. "It may not be the right move to launch a blockchain ourselves. There are very good blockchains."
According to current data, with the increase in meme coin interest, the amount of USDT on the TRON network has managed to surpass that on Ethereum.
Currently, the total amount of USDT on TRON is $61.7 billion, leaving behind the $52.1 billion USDT on Ethereum. The difference between TRON and Ethereum was recorded as approximately 9.6 billion USDT.
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