Cryptocurrency attached to gold. New Tether development
Tether is in many ways a unique platform. Representatives of the company regularly report on the most daring developments that change the concept of digital currencies. Literally today, one of such unusual news came to mass use. Tether, in its Twitter account, said that soon they will present to their customers a cryptocurrency backed by gold. Can this digital asset be considered a full-fledged crypto? What awaits development and who needs it in principle? About this and much more – right now. Without further ado, let’s get started.
Useful theory
In fact, you should not be surprised at such unusual headings from Tether. This company initially positioned itself as something different from all other Blockchain enterprises. According to Tether, the future is not in fiat currencies, but not in digital assets. According to the company, a productive economic system is obliged to combine both the advantages of the Blockchain and the foundations of traditional monetary relations. The firm’s main digital asset, the USDT coin, is directly tied to the US dollar. A clear ratio guarantees the stability of the crypto, because until the dollar falls, USDT does not fall either. It is worth noting that such developments are subject to certain criticism. Reputable investors and crypto enthusiasts believe that Tether kills the very essence of Blockchain and cryptocurrencies. However, the company does not listen to criticism and continues to grow.
And today, representatives of the company said that soon everyone will be able to enjoy the new Tether development. An absolutely unique asset is no longer tied to the dollar, but to gold. The new coin will work on algorithms from Ethereum and Tron. Good technical implementation guaranteed. The mechanisms are arranged in such a way that each unit is equal to one troy ounce of real metal. Translated to a simpler measurement system, 1 coin = 31.1 grams of precious metal. All gold is stored in real safes of a Swiss bank. However, Tether also claims that the company has no control over gold. All contents of safes are in the hands of the owners of the crypt. The new coin has the distinctive name Tether Gold.
About the benefits of Tether Gold
The gold standard, contrary to popular movements, has not gone anywhere. People are still willing to pay serious amounts for certain alloys, and Tether gives its customers this opportunity. Note that it was this company that brought the idea of a coin associated with gold to a logical form. Similar attempts were made earlier, but only Tether reached the end.
If you really need gold, the best option for acquiring it is Tether Gold. The creators do not charge for the storage of metal, once you pay, you can keep the savings safe and sound. For everyone else, it seems to us that Tether Gold is just an interesting project. You can experiment and get some coins as soon as they come out. This highly specific asset will definitely find its customers.
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