Tether (USDT) is one of the most widely used stablecoins (stable value cryptocurrency) issued by Tether Limited in 2014. A stablecoin is a type of cryptocurrency whose value is pegged to reserve assets and offers minimal price volatility. In the case of USDT, it is pegged to a US dollar that is held in Tether Limited's reserve balance and can be obtained through the Tether platform.
USDT is said to be created with the purpose of combining the unlimited nature of cryptocurrencies — which removes the need of a trusted third-party intermediary in transaction— with the stable value of the US dollar. Similar to Bitcoin or any other cryptocurrency, USDT can be traded 24/7 on an active global market.
Tether is now available on other blockchains, including Ethereum (ETH), Tron (TRX) and EOSIO (EOS), which allow for the creation of new assets natively on their blockchains.
