Tether interrupts the redemptions of the USDT and the gel of the remaining tokens on five blockchains. Onbilling these “inherited blockchains”, the company completely eliminates the USDT from these ecosystems.
More specifically, he finishes the omni layer, the Algorand, the Bitcoin Cash SLP, the Kusama and the EOS. The persistent support will remain until September 1, users will therefore have enough time to move their stablecoins to different networks.
Tether’s changing strategy of the blockchain
Tether, the largest stablecoin transmitter in the world, has changed a lot in recent years. At the end of 2023, he partially interrupted the support of three of these five blocks: Kusama, Bitcoin Cash SLP and Omni Layer.
Although the company said it reintroduced support if user activity increased, it did not occur and Tether finally takes the catch.
“As the digital asset ecosystem evolves, Tether remains determined to adapt to his side. Support for sunset for these inherited channels allows us to focus on platforms that offer greater scalability, developer activity and community engagement – all key components to conduct the next stablecoin adoption wave, “Paolo Ardoino told the adoption of stables”, Paolo Ardoino.
In all honesty, Tether is justified to refer to these blockchains as inherited protocols. The omni layer, for example, was an important component of the cryptographic ecosystem in the 2010s, but it was completely overshadowed. Even if these protocols were key springboard a few years ago, their time ended.
Tether examined use data, market demand and community comments of the community to make this decision.
So, now that it is developing with fewer resources, what is the next step from Tether? Last August, Ardoino said Tether did not continue his own blockchain. Nevertheless, the company has engaged in several infrastructure and blockchain awareness programs during the intermediate months.
Instead, attach Refocus your blockchain efforts in a new direction. Five months ago, the company added increased support to the Lightning network, and it plans to redo the same thing.
In the future, the company prioritizes L2 protocols for the expansion of the USDT.
In the end, this restructuring will give Tether the best chances to meet the needs of its users and optimize its blockchain support infrastructure. Hopefully the company will continue to raise new protocols as the entire ecosystem is developing.
The post office deletes USDT from these 5 inherited blockchains appeared first on Beincrypto.
