Teda USD (usdt) is a token Tether USD (hereinafter referred to as usdt) introduced by Tether Company, which is based on USD with stable value. USDT 1 USD = 1 USD. Users can exchange USD for USDT at any time. The tether company strictly abides by the reserve guarantee of 1: 1, that is, every time it issues 1 USDT tokens, its bank account will be guaranteed by 1 USD. Users can query funds on the tether platform to ensure transparency.
TEDA currency is a kind of virtual currency, which links cryptocurrency with legal tender dollar. Each TEDA coin is symbolically associated with legal tender supported by the government. TEDA currency is a virtual currency deposited in foreign exchange reserve account and supported by legal tender. This method can effectively prevent the price fluctuation of cryptocurrency. Basically, the value of a TEDA currency is equal to $65,438 +0.
The development of TEDA currency is as follows:
2014165438+1In late October, Realcoin Company registered in the Isle of Man and Hong Kong was renamed Tether.
When 20 15 was released in February, bitfinex, the trading platform with the largest transaction volume of bitcoin futures, announced that it supported TEDA (hereinafter referred to as USDT) trading. Subsequently, the Polish Exchange, a competitive currency trading platform, also supported USDT. With the strong rise of Ethereum, P-network has the leading potential in the competitive currency trading platform, which is also helpful to promote the trading volume of USDT. The issuance and transaction of USDT uses the Omni (original primary currency) protocol, and Omni currency can be said to be the first 2.0 currency based on bitcoin blockchain in the market. Therefore, the transaction confirmation and other parameters of USDT are consistent with Bitcoin. According to Craig Schmidt, chief technology officer and co-founder of Tether, users can wire US dollars to Tether's bank account through SWIFT, or convert them into USDT through Bitfinex exchange. When exchanging dollars, the reverse operation is enough. Users can also exchange bitcoin for USDT on the above two websites.
Its website claims to strictly abide by the reserve guarantee of 1: 1, that is, its bank account will be guaranteed by 1 USD for every token issued by 1 USD. In terms of compliance, all operations involving legal tender require users to complete KYC authentication. When asked how users can verify the deposits in bank accounts, Craig said that legal tender is kept by Tether Liminted Company and audited regularly, but at present, users can't directly check the deposits.