Developments

Tether’s USDT available on the EOS Blockchain, Block.one creates crypto twitter

Tether blockchain Tech Company, the company behind the USDT stablecoin, has indicated that it’s partnering with EOS parent company Block.one to release its stablecoin (USDT) on the EOS blockchain.

According to the announcement, the Tether EOS smart contract has been sent to the EOS account “tetherthether” and peer-reviewed by the Canadian branch of EOS. Reportedly, Tether EOS is well –suited for peer-to-peer micro transactions due to its delegated PoS design.

Jean-Louis van der Velde, tether’s chief executive Officer, acknowledged that welcoming the coin on the EOS blockchain increases the interoperability.

Towards the end of last month, Coinbase, a leading crypto exchange and wallet service provider, stated offering trading and storage support for EOS. EOS has a market cap of over $8 billion.

On the other hand, a leading German business paper, Handelsblatt, reported that the EOS developer, Block.one, is preparing the launch of a new social media platform to compete with Twitter. According to Decrypt, a news outlet, the development is just a rumor in financial and crypto circles.

However, as reported by Handelsblatt, the new platform will be co-founded by EOS Blockchain Development Company, Peter Thiel-backed block.one, and German fintech and biotech investor Christian Angermayer.

At the time of writing, neither Angermayer nor Thiel had issued a public statement with details of the development. Block.one also declined to offer any additional details. A report by Handelsblatt indicated that Block.one’s users for the new platform will be compensated for likes and posts paid for by advertising revenue.

The German outlet suggested that the firm’s new platform will have features similar to Instagram and Facebook, while it will be offering users direct involvement by token means.

Crypto celebrity, brock pierce, and EOS co-founder has been preparing for a big announcement from the company.

Do you think USDT being availed on EOS and will help widen the competition gap between it and other stable coins?

You may also be interested in:

A crypto merchant bank parts ways with EOS blockchain for $71 million

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coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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