Tether (USDT) cites the popularity of its Ethereum-based asset (ETH) as the reason the company has never had to burn a token.
We all know that after Bitcoin, Ethereum is the most popular among cryptocurrencies.
Paolo Ardoino, who serves as CTO (chief technology officer) for both Tether and Bitfinex, explained that the company burns its tokens on the Omni and Tron (TRON) networks, while maintaining authorized but not issued and unsupported ERC20 tokens on the "Inventory":
"We haven't destroyed Ethereum-based USDT yet, we have destroyed unnecessary USDT on Omni and Tron so far, Ethereum has been the most popular blockchain in recent months and demand for ERC20-based USDT has been high, therefore, when have processed the refunds, Tether retained those USDTs in its authorized but not issued, and unsupported inventory for future market demand. "
According to Paolo Ardoino's sayings, Ethereum will continue to be one of the most reliable cryptocurrencies.