Tether Pushes to Bring USDT Back to Bitcoin Network With Privacy, Faster Payments
Summary
- Tether said USDT is poised to be used again on the Bitcoin (BTC) network.
- Bitcoin-based USDT is being designed to support transaction privacy and faster payments through the Lightning Network.
- It remains unclear, however, whether Bitcoin-based USDT can compete with stablecoins on the Ethereum (ETH) and Tron (TRX) networks.
Forecast Trend Report by Period
Tether's USDT is set to be used on the Bitcoin network again. The move aims to broaden stablecoin use by emphasizing transaction privacy and faster payments through the Lightning Network.
Cointelegraph reported on October 29 that Tether's return to the Bitcoin network has fueled expectations for stronger privacy protections and faster payment speeds.
Bitcoin-based USDT is being developed to support faster payments via the Lightning Network. Enhanced transaction privacy is also being highlighted as a key feature.
It remains unclear, however, whether it can compete with stablecoins circulating on the Ethereum and Tron networks. The central question is whether Bitcoin-based USDT can catch up to the utility of those established networks.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.