Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
Home Market Updates

USDT Expands to the Polygon Network

Compatibility and cross-chain interoperability are the next levels of blockchain operations, and Tether (USDT) is taking the right steps in the right direction by moving to Polygon

by James Enajite
June 8, 2022
in Education, Global, Opinions
Reading Time: 4 mins read
3.3k
A A
0
Share on FacebookShare on Twitter

Blockchain technology has proven to be the most prolific innovation to ever impact the world in this century. It has changed the way the world operates and has a large space for more impact in the coming years.

Several blockchain project developers have made efforts to leverage the development associated with Ethereum but the challenges of higher transaction fees and scalability still remain a problem for the Ethereum developers. 

You might also like

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

February 22, 2023
7.4k
Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

February 14, 2023
7.4k

However, Polygon, which is a decentralized Ethereum scaling platform that enables developers to build scalable user-friendly dApps with low transaction fees without ever sacrificing security, has proven to be a respite for the Ethereum community. 

The Polygon platform operates using the Ethereum blockchain and connects Ethereum-based projects in a seamless manner thus helping in a large way to scale the Ethereum network.   

Polygon uses a modified proof-of-stake consensus mechanism that enables consensus to be achieved with every block. The proof-of-stake method requires network participants to stake and agree not to trade or sell the Polygon (MATIC) token.

What is USDT? 

Tether (USDT) is a popular cryptocurrency otherwise known as a stablecoin that virtually all crypto enthusiasts have used for years to leverage their cryptocurrency trades and also use for executing transactions.

Tether (USDT) is pegged to the U.S. dollar, and in theory, it is assumed to be unaffected by the possibility of market volatility that can so dramatically impact the valuation of other cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin.

Tether was initially launched as a digital currency called RealCoin in July 2014 and was later rebranded as Tether in November 2014 to portray the essence of a stable coin. It eventually began trading in February 2015.

Why is USDT popular?

Tether now supports other blockchain protocols which include Bitcoin’s Omni, Liquid, Ethereum, TRON, EOS, Algorand, Solana, and OMG Network, making it a highly interoperable token; hence the popularity of its service globally.

There is virtually no crypto wallet or exchange in existence that does not use or transact in Tether (USDT). 

The global acceptance and popularity make it easily accessible and tradeable in all exchanges either centralized or decentralized. 

Tether belongs to a fast-growing set of digital currencies (cryptocurrencies) called stablecoins, with a goal to ensure that the price of their tokens is stable,  by tying it to the price of a traditional currency like the U.S. dollar. 

How is Polygon different from other Blockchains?

The interoperability of Polygon (MATIC) gives it an advantage over other blockchains for its flexibility and scalability. This serves as a second-layer solution against other blockchains. Tether’s integration into Polygon now gives more than 8,000 different teams and developers using the platform an additional stablecoin option for making payments and transactions.

The year 2021 witnessed the launching of Polygon Studios, which is a subsidiary of Polygon focused on the creation of blockchain gaming and non-fungible tokens (NFTs) which by all standards has the potential to put Polygon on the global market based on its scalability and lower transaction fees. 

With the current statistics available, Polygon has processed more than 1.6 billion transactions, with over 143 million unique user addresses and over $5.3 billion in assets secured, thereby making itself outstandingly one of the industry leaders in terms of scaling solutions for the Ethereum platform. 

Polygon is very concerned about the current development associated with the future of web 3.0. Hence it has improved its developmental strategy to accommodate more scaling solutions in line with the global trends. 

Subsequently, this would provide Polygon the opportunity to leverage fast transaction times and lower fees to accommodate more services on the Polygon network and ensure the use of the USDT in a seamless manner. 

Polygon is tradable on Klever Exchange

The Klever team continues to create more possibilities for new and existing traders by partnering with major blockchain projects like the Polygon team thereby enabling traders to transfer funds in a very fast and cheap manner.

We would like to invite our traders to start using the Klever Exchange for trading purposes using the deposit and withdrawal options in USDT with the Polygon network. 

Tags: polygonusdt
Advertisement Advertisement
Previous Post

What blockchain projects are doing to help the environment

Next Post

Klever attends the infamous Consensus 2022 event

James Enajite

James Enajite

A passionate lover of crypto and mankind with an active mind to create content to educate everyone within my sphere of influence. An entrepreneur with an open heart to accommodate young aspiring individuals to achieve their best in a global space.

Related Stories

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

by Klever
February 22, 2023
0
7.4k

We are excited to announce that Klever has recently joined the Web3 Domain Alliance, a group dedicated to promoting the...

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

by Isabela Bellumat
February 14, 2023
0
7.4k

With so many options available, it can be difficult to determine which wallet is the best choice for your digital...

The Rise of Decentralized Autonomous Organizations: Transforming the Future of Business and Society

The Rise of Decentralized Autonomous Organizations: Transforming the Future of Business and Society

by Warren Manuel
February 10, 2023
0
7.3k

Imagine a world where businesses and organizations operate with complete transparency, security, and autonomy. A world where intermediaries and central...

Revolutionizing Investment: Can AI be Your Next Financial Advisor?

Revolutionizing Investment: Can AI be Your Next Financial Advisor?

by Warren Manuel
February 9, 2023
0
7.3k

Investment and financial management have come a long way in the digital age. With the advent of Artificial Intelligence (AI),...

Next Post
Klever attends the infamous Consensus 2022 event

Klever attends the infamous Consensus 2022 event

K5

K5 adds new blockchain and KleverSafe support in the latest Android version

Please login to join discussion
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
7.5k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
7.5k

Popular Story

  • Stand a chance to win your share of 10,000 KLV

    Stand a chance to win your share of 10,000 KLV

    8360 shares
    Share 3344 Tweet 2090
  • Test drive Klever Wallet, K5 and Win 1000 KLV & 1 KFI

    7033 shares
    Share 2813 Tweet 1758
  • Bitcoin battles back from record losses to $21,000

    5915 shares
    Share 2366 Tweet 1479
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    5360 shares
    Share 2144 Tweet 1340
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    5072 shares
    Share 2029 Tweet 1268

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Games
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Sponsored
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

February 22, 2023
Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

February 14, 2023
  • Sponsored Content
  • Advertise
  • Contact Us
  • RSS Feed

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version