Questions
TagsWhat is the network that USDT operates on?
Mathews HumphriesDec 27, 2021 · 3 years ago3 answersCan you explain the network on which USDT operates and how it functions?
3 answers
- USDT operates on multiple networks, but the most common one is the Ethereum blockchain. It uses the ERC-20 standard to create and manage USDT tokens. This network provides a secure and decentralized platform for the issuance and transfer of USDT. Transactions on the Ethereum network are recorded on a public ledger, ensuring transparency and immutability.Dec 27, 2021 · 3 years ago
- USDT operates on the Omni Layer protocol, which is built on top of the Bitcoin blockchain. This network allows the creation and transfer of USDT tokens using Bitcoin transactions. It provides a layer of abstraction on the Bitcoin blockchain, enabling faster and more scalable transactions compared to using Bitcoin directly.Dec 27, 2021 · 3 years ago
- USDT operates on various networks, including Ethereum, Tron, and Binance Smart Chain. Each network has its own advantages and characteristics. For example, Ethereum offers a wide range of decentralized applications and smart contract functionality, while Tron focuses on high transaction throughput and low fees. Binance Smart Chain combines the benefits of both Ethereum and Binance Chain, providing compatibility with Ethereum and faster transaction confirmation times.Dec 27, 2021 · 3 years ago
Load 5 more related questions
Related Tags
Hot Questions
- 99
How can I minimize my tax liability when dealing with cryptocurrencies?
- 95
What are the best digital currencies to invest in right now?
- 91
Are there any special tax rules for crypto investors?
- 71
What is the future of blockchain technology?
- 69
What are the tax implications of using cryptocurrency?
- 61
How can I protect my digital assets from hackers?
- 46
How can I buy Bitcoin with a credit card?
- 45
How does cryptocurrency affect my tax return?