Tether revealed that his stablecoin, USDT, will soon work on Polkadot’s blockchain.
Polkadot’s blockchain is about to experience a significant boost. With the next release of Parachain, the protocol will finally realize its scalable multi-chain architecture.
Although the new functionality is in a testing state, the developers are already preparing for it.
Enjin announced recently the launch of a next generation NFT blockchain on the Polkadot network called Efinity. The project is set to allow highly scalable transactions for games, applications, companies and creators. Thanks to the speed of the protocol, developers expect to process transactions every six seconds under a consensus proof-of-stake algorithm that can scale to 1,000 transactions per second.
Now, Tether has revealed that the world’s largest stablecoin on the market, USDT, will be on Polkadot’s blockchain.
Paolo ArdoIlo, CTO of Tether, said the network’s infrastructure to provide an environment for cross-compositing multiple applications and protocols made it ideal for offering “more liquid, stable and reliable” access.
“Polkadot is one of the most exciting projects in the digital token ecosystem and we anticipate the entry of Tether, as they feed into Polkadot’s emerging ecosystem. Polkadot, with its structure, has the capacity to grow significantly in the coming years. This growth will be driven by the high level of scalability, ”said Ardoino.
USDT will be available at Kusama to serve as a test before launching at Polkadot.
Peter Brandt reviews DOT
While Polkadot’s ecosystem is expected to grow exponentially after the launch of Parachain, the price of DOT is on the rise.
According to veteran trader Peter Brandt, the fifth largest cryptocurrency by market cap was divided by a symmetrical triangle that developed on its daily chart. After a month-long consolidation period, the point was able to break through the $ 39 resistance level recently.
If Polkadot’s good times continue, the crypto will likely continue to climb to a new high of more than $ 55. This target is determined by measuring the height of the Y-axis of the Triangle and adding that distance to the breaking point.