March 28, 2024

Tether launches USDT on OMG Network

Tether launches USDT on OMG Network

The largest stablecoin Tether (USDT) announced the integration with the OMG Network (formerly known as Omise GO).

According to representatives of Bitfinex, integrationWill allow USDT transactions to be much faster and cheaper. In addition, the statement stated that the Ethereum network is “vulnerable to significant congestion,” and Ethereum’s maximum throughput is only 12 transactions per second.

The OMG Network CEO said their network supports “thousands of transfers per second,” and their cost is “a third of the transaction price on Ethereum.”

Bitfinex CTO Paolo Ardoino said:

Moving to the OMG Network will allow us to reduce costs, improve performance, and reduce the load on the core network.Everyone wins – Bitfinex, our customers, and the entire Ethereum ecosystem.

To date, Tether operates on seven blockchains – Algorand, Ethereum, EOS, Liquid Network, Omni, OMG Network, and Tron. 

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Based on materialswww.theblockcrypto.com