Steemit Crypto Academy | Stable Coins | Homework task 6 for @yohan2on

Hello Steemians !!

Today I'm going to make my Steemit Crypto Academy Homework task by professor @yohan2on Lesson 6 that talking about Stable Coins. A new and good lesson for me. I will try to discuss it, i hope my knowledge is more developed about coins in the crypto world. On this occasion I will try to discuss about stable coin Tether (USDT).

Stable Coins

SOURCE

Already known by everyone, especially those of you who are in the world of cryptocurrency, there is no doubt that the price of cryptocurrency is very volatile. The presence of stable coins is a breakthrough that aims to overcome this. Stable coins are cryptocurrencies that have a stable price because they are supported by physical assets. The existence of stable coin is considered to facilitate transactions on the cryptocurrency market. Because of its stable value, stable coins are useful for maintaining the value of user funds.

One of the digital coins that has become a stable coin, namely Tether (USDT). Tether (USDT) is not a coin but a token. This token is a digital asset using a blockchain base that is guided by the USD. 1 Tether token has a stable price which is almost equivalent to 1 USD. This token was launched at a 1:1 USD / USDT ratio. The purpose of launching this token combines the efficiency, security, and transparency of the blockchain with the functionality and value of fiat currencies.

About Tether (USDT)

SOURCE

Tether (USDT) is a stable coin designed for financial transactions connected on the internet. By using a Blockchain-based system, Tether (USDT) allows you as a user to transact in any form such as storing, sending, and receiving USD in the form of digital tokens. These transactions occur globally and safe at a relatively low cost. Tether (USDT) is one of the tokens that serves as the largest stable coins today, this is demonstrated because it is used by almost everyone cryptocurrency exchanges around the world.

Tether (USDT) offers you as a user several currencies other than USD. This allows you to exchange your asset holdings in various currencies and commodities. Many Tether (USDT) users use it as a medium for cross-border USD sending. This is evidenced by many users who use Tether (USDT) saying that this transaction has a relatively cheap price compared to foreign currency transfer services through banks.

Tether (USDT) is created on the Bitcoin blockchain network with the help of the OMNI Layer Protocol. The working principle is carried out by guiding the course of digital data transactions on the Bitcoin blockchain and ensuring the value transferred remains stable. OMNI Layer Protocol takes advantage of this to add a variety of other features that can be used. Apart from using the Bitcoin blockchain, Tether (USDT) also uses the EOS, TRON and Ethereum blockchains.

Benefits Using Tether (USDT)

SOURCE

• Stabilizes volatile prices
  The presence of Tether (USDT) which is intended as a stable coin really helps everyone who is in the world of cryptocurrency to be used as the best solution.
• Exchange and storage of assets
  Tether (USDT) allows you as a user to exchange the assets you have into the assets you want cross-border USD sending and other currencies at a relatively low cost.
• Globally transparent
  By using a blockchain-based system, this shows that Tether (USDT) is globally transparent to anyone and can be accessed anywhere. All related things can be found anytime.

Thank you for reading my blog, maybe there are still many mistakes of my homework, but here it is. Hope it will be useful for all of you.

CC:
@yohan2on
@steemcurator02