When was #USDT🔥🔥🔥 created and why?
Tether (USDT) was invented in 2014 by Tether Limited. The basic idea behind creating Tether was to provide a stable digital currency whose value is pegged to a traditional currency (in this case, the US dollar) to reduce the extreme volatility experienced by other digital currencies such as Bitcoin and Ethereum.
### Objectives and reasons for inventing Tether (USDT):
1. **Price Stability**: Since the value of USDT is pegged to the US dollar at a 1:1 ratio, it provides a safe haven from price fluctuations of other cryptocurrencies.
2. **Improved liquidity**: USDT can be used as a trading medium easily and quickly on digital trading platforms, facilitating buying and selling operations without the need to transfer funds between digital and fiat currencies.
3. **Transaction acceleration**: Thanks to blockchain, USDT can be transferred quickly and at a low cost compared to traditional bank transfers.
4. **Increasing confidence in the market**: Providing a stable instrument of exchange helps build confidence among investors in the digital market.
### How Tether (USDT) works:
Each unit of USDT is backed by an equivalent reserve of US dollars or other assets, the issuing company claims. USDT is issued on a variety of blockchain networks such as Bitcoin (via the Omni Protocol), Ethereum, Tron, and others.