This article was first published on Stories by TRON Foundation on Medium
Today we are excited to usher in the new USDT stablecoin based on our TRC-20 standard.
So what’s a stablecoin, and what does it mean for you in the community?
A stablecoin is a digital token that is pegged to the US dollar or other fiat. It’s the closest thing to traditional finance in the cryptosphere since it offers both consumers and business a safe haven from times of volatility. For instance, one TRC20 based USDT stablecoin could be cashed in for its equivalent in underlying reserves held by Tether, the creator of the world’s first stablecoins, under its terms of service. Even better, these stablecoins enjoy the same benefits as other blockchain currencies, including transparency, security and privacy.
As many of you know, instability in the marketplace — including the long bear market — creates a lot of skepticism about long-term prospects for the blockchain industry. In particular, companies and institutional investors are sitting on the sidelines and not implementing blockchain or cryptocurrency as a form of payment because of the wide price swings affecting the markets.
This is a big reason why we need stablecoins on the TRON network. By implementing USDT built on TRON blockchain, we’re taking a big step into a world representing stability — and into the world of decentralized finance.
Ultimately, users in Korea will be able to quickly and efficiently transfer this new digital currency back to relatives in Israel. Consumer electronics makers will able to pay Asian suppliers and track the progress of their purchased goods every step of the way. And that’s just the tip of the iceberg in terms of the promise of TRC20 based USDT.
I think of USDT built on TRON blockchain as a win for the blockchain industry and for our community. More people will be able to trade TRX, BTT and other TRC-based tokens through ...
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Stories by TRON Foundation on Medium