USDT may threaten the status of Ethereum as a payment tool

According to Ambcrypto ’s May 31st news, Arcane Research ’s latest research report indicates that as Tether ’s supply reaches a new peak, it is moving away from the Bitcoin network. Tether was originally based on the Omni layer on the Bitcoin blockchain. Since then, it has gradually opened up more protocols, including Ethereum and Tron. Compared with the Omni layer, Tether’s transition to the Ethereum protocol is due to Ethereum’s faster confirmation time, shorter exchange deposit and withdrawal time and lower fees. Currently, Ethereum holds the largest share of Tether’s supply. In this regard, the report pointed out that although it is beneficial for Ethereum to demonstrate its value as an infrastructure, it also increases the cost of Ethereum. In fact, if this situation continues, USDT may eventually replace Ethereum and become a payment tool in the Ethereum ecosystem.

RSS
Follow by Email
Pinterest
LinkedIn
Share
Instagram
Telegram
Weibo
WeChat