The Tether company launched a version of its famous stablecoin, the USDT, on the Algorand blockchain, representing the first significant use of the Algorand Standard Asset (ASA) specification.
Tether extends influence In particular, Tether uses one of the main features of the Algorand 2.0 upgrade, the Algorand Standard Asset (ASA) technology, which allows the tokenization and issuance of any type of asset on the Algorand blockchain. Implementation of the USDT within the Algorand blockchain will benefit from block confirmation in less than four seconds and minimal transaction fees. According to the official press release, this will unlock the possibility of micropayments on the blockchain.
Paolo Ardoino, Tether's technical director, commented that one of the main strengths of Tether is that it is supported by a rich diversity of different blockchains. Indeed, in addition to Algorand, Tether is already deploying USDT from Ethereum, EOS, TRON, the Liquid Network sidechain and the Omni overlay.