Tether was introduced to back up the US dollar. As the prices of cryptocurrencies seem to be very unstable, the company formed Tether to make sure the price is equivalent to the US dollar. This is to make sure that the initial idea of the use of cryptocurrency serves its purpose.

Being $1 per Tether, people can now transfer funds at the same rate as the US dollar making it more suitable for online transactions. Having the same price and maintaining the stability, gave Tether a new name “stable coin”.

Tether was first introduced back in 2015 and was called Realcoin for a while. The network now contains more than $2 billion Tether coins.

The company Tether limited issues every token. This company originated in Hong Kong but have their branch in the US.

The founder Jan Ludovicus van der Velde is also a founder of another cryptocurrency Bitfinex. Using Tether coins in the major exchanges are becoming popular day by day. As exchanges face certain difficulty or problems regarding local bank loans, they can use Tether as their backup banks to hold the funds.

This is certainly a great method to avoid any complications at the exchanges.

The Features

• It’s a stable currency that maintains its one dollar price no matter what happens on the market.
• The process is backed up by established currencies to avoid any money shortage.
• It’s a transparent process meaning one will always see their transactions and the amount of money in reserve.
• Tether network provides high-end security to avoid third part manipulation.
• It's available at many exchanges, unlike other cryptocurrencies.

Technology behind Tether

Tether uses blockchain technology as their base. But they follow the Omni Layer Protocol. This protocol is open-sourced. It integrates with the blockchain platform allowing the security and transparency of the whole network. One can use Tether to pay for their transaction fees.