ALGORAND BLOCKCHAIN AND STABLECOIN

As cryptocurrency is making headlines in both the digital system and the global financial system, more and more cryptocurrencies are also coming into existence so as to help the world into a new digital revolution. One which is characterized by cashless transactions,through the use of these digital currencies. There is no limit to that which which is achievable in this era of cryptocurrency transactions, that is why different global platforms and establishments are rapidly exploiting it features and integrating it into their system, as a superior payment method which will greatly help their general performance. One major problem which has always confronted the digital assets industry is the instability of its price, as the value of these crypto coins fluctuate a lot.

You would agree that making investments or trading with cryptocurrencies would be very risky for the users, as the market worth of the cryptocurrencies could crash anytime, leaving the users with a considerable amount of loss. Honestly, this had been one of the reasons why a lot of people do not take part in the cryptocurrency industry, until the creation of the stablecoin. Tether was the first stablecoin produced, about five years after the launch of cryptocurrencies, to help mitigate the risk of price volatility experienced in the market, by making it a stablecoin.

The Tether stablecoin is a cryptocurrency, whose market worth is pegged to a less volatile asset, so that its price never goes lower than the asset. So, the Tether stablecoin is pegged to the USD, in that its price can never go below the price of the USD. With this, the users do not have to worry about the decrease in the worth of their cryptocurrencies, because with a stablecoin the price is protected. I told you, the digital assets industry is really advancing. The Tether stablecoin and every other cryptocurrency is developed with a unique technology, called the Blockchain. This Blockchain is the technology behind the reliability of the cryptocurrencies and its use as the next generation currency which will become the globally accepted currency.

Just as new cryptocurrencies are entering into the cryptocurrency industry, numerous Blockchain networks are being created too, so as to meet the needs of developers, giving them reliable systems to build on. The Tether stablecoin as we know it, is currently supported by different Blockchains such as the Ethereum Blockchain, TRON network, Liquid network, Omni and even EOS. So, its performance today is owed to the efficiency of these Blockchains upon which it is built. Following how fast digitalization is spreading across different systems, and the creation of sophisticated technologies as well as more digital currencies with great use cases, the Tether stablecoin plans on moving up in the chart, by integrating a superior Blockchain into its framework, which will lead to their efficient performance and also give Tether, an edge over other stablecoins out there. Tether has shown its interest in the adoption of the ALGORAND BLOCKCHAIN, in order to improve its system. Here is a quick review of the Algorand Blockchain. ALGORAND BLOCKCHAIN LAUNCHES ITS FIRST STABLECOIN (TETHER) 

WHAT IS ALGORAND BLOCKCHAIN? 
Algorand is the first open source, permissionless Blockchain, which uses a Pure Proof-of-Stake protocol, to revolutionize the Blockchain industry. This great Blockchain is set out to add more values to the digital system, by simplifying payments and allowing cross-border transactions without stress, developing sophisticated tools which will help ease the performance of each system, and still ensure full security and privacy of operations. 

WHY TETHER CHOSE THE ALGORAND BLOCKCHAIN 
Looking at the standard of the Tether stablecoin and how long it has existed in the cryptocurrency industry, lots of questions come up as to why the Algorand Blockchain was chosen amidst all the Blockchains in existence today. What unique features are embedded in the Algorand Blockchain that makes it preferred by not just other systems, but the Tether stablecoin too. 

Here are some reasons for choosing Algorand Blockchain… 
● TRANSACTIONS CONFIRMATION IN A FLASH As part of its arrangement to improve its system, the Tether stablecoin seeks to achieve a system where the user's transactions get confirmed in the blink of an eye. That is  why it is leveraging the use of the Algorand Blockchain amongst all, to breed more efficiency during transactions, seeing as the Algorand protocol facilitates the confirmation of blocks just within 4 seconds.

Isn't this incredible?
This kind of speed that the Algorand Blockchain delivers to the Tether stablecoin will greatly improve its features and is one of the reasons Tether prefers it over other Blockchain networks.
● GREAT DESIGN AND SOPHISTICATED
TOOLS Another reason the Alogrand Blockchain is chosen by Tether is because Alogrand posses great tools and technologies which could help effect great changes in a system, such as the smart contracts, atomic transfers as well as the ASA (Algorand Standard Asset) technology that will help Tether issue and tokenize assets seamlessly, on the system.
● SCALABILITY AT ITS BEST
The Algorand Blockchain provides unparalleled scalability, to make it possible for any system which adopts it to be easily improved and even have actual use cases which can implemented in today's world. So, Tether is leveraging this feature of Algorand to deliver better performance to all its users.
● COST EFFICIENT TRANSACTIONS
This is now achievable by Tether upon its adoption of the Algorand Blockchain, due to its design, which allows for a great number of transaction to be carried out without imposing a very high fee on users, as transaction charges. Majority of the available Blockchain do charge very high during transactions, making it inefficient for swift and multiple payments, that is another reason the Alogrand Blockchain is used to launch the Tether stablecoin. Interoperability and efficient performance is now in sight through the launch of the Tether stablecoin on the Algorand Blockchain, making way for an era of digital transformation. 

TO CONCLUDE THIS, 
Algorand Blockchain is really making waves in the Blockchain industry and every aspect of the digital system, as it is rapidly being adopted by different digital systems today. Tether will be adding another great Blockchain to its arsenal once it integrates with the Algorand Blockchain, seeing as this great Blockchain carries all that is needed to enhance the performance of any system. This launch of the Tether stablecoin on the Algorand Blockchain is a great milestone in the DeFi industry, as it now creates a superior payment gateway, characteristized by maximum security and speed, during transactions. For more information about Algorand, visit their WEBSITE

Article Written By Sir. Tochuckwu.
Algorand Ambassador