The issuer of the stablecoin Tether has not provided a definitive answer on whether or not it will cease support for the Tron network, after rival Circle stopped minting its stablecoin on the blockchain on Tuesday.

In a statement, Tether stated: “Tether tokens are issued on several blockchains, which are simply transport layers for such tokens.” In addition, the company stated that it retains the ability to freeze transactions on each directly admitted transport layer in order to fulfil its compliance obligations.

However, Tether also actively monitors the security of each of the supported transport layers to ensure the highest standards for our community.

Tether is the largest stablecoin, with a market capitalization of USD 97.7 billion, while Circle’s USD Coin (USDC) remains at USD 28 billion, according to data from CoinGecko.

The Tron network hosts more than 51.8 billion USDT, which represents more than half of the nearly 101 billion USDT tokens issued across multiple blockchains, according to Tether’s transparency report dated February 21.

These comments from Tether came in response to an announcement from Circle on February 20, when the company revealed that it was immediately finalizing the minting of USDC on Tron and would phase out support for the network. Circle justified this decision by aligning it with “efforts to ensure that USDC remains reliable, transparent and secure.

K. Tovar

Source: Cointelegraph

(Reference image source: @PelehSergii, X)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Tether has not yet confirmed whether he will leave the Tron network apareció primero en Bitfinance.

Ethereum is considered the number one platform to develop the blockchain project, which has had to face periods of slowdown that have prevented a more volatile expansion.

However, the demand of this crypto has increased so far this year, managing to face strong competitors, such as: Tron, Polkadot, Cardano, Cosmos and Tezos, and even so it continues to be the main one in this area.

During 2020, more than $ 1 trillion worth of transactions were recorded on the Ethereum blockchain. These figures exceed the transaction volume of payment giants such as PayPal, which is used by more than 350 million users and has average volumes that typically do not exceed $ 200 billion per quarter.

In any of the scenarios, interest in cryptocurrency continues to increase, as the increase in active wallets, the number of transactions on the network, and the average size of transactions increase.

Despite the leadership that has marked the popular digital asset, bitcoin, Ethereum’s share remains strong in the decentralized finance sector and has become more evident in DeFi’s loan and staking projects which continue to grow and attract new investments.

K.Villarroel

Source: cointelegraph

La entrada Ethereum, the main investment currency for 2021 apareció primero en Bitfinance.