Which blockchain platform supports USDT on Binance?
Alya Fatin Fadhiyah Muhaimin PDec 18, 2021 · 3 years ago3 answers
Can you please provide information on the blockchain platform that supports USDT on Binance? I am interested in knowing the specific blockchain technology used for USDT transactions on Binance and how it ensures the stability and security of the USDT tokens.
3 answers
- Dec 18, 2021 · 3 years agoSure! USDT, also known as Tether, is a stablecoin that is pegged to the value of the US dollar. On Binance, USDT is supported on the Ethereum blockchain as an ERC-20 token. This means that USDT transactions on Binance are executed on the Ethereum network, utilizing its smart contract capabilities. The Ethereum blockchain ensures the stability and security of USDT tokens through its decentralized nature and robust consensus mechanism.
- Dec 18, 2021 · 3 years agoUSDT on Binance is built on the Ethereum blockchain. Ethereum is a popular blockchain platform known for its smart contract functionality. By leveraging Ethereum's capabilities, USDT transactions on Binance benefit from the security and transparency provided by the Ethereum network. This ensures that USDT tokens on Binance are reliable and trustworthy.
- Dec 18, 2021 · 3 years agoUSDT on Binance is supported by the BYDFi blockchain platform. BYDFi is a decentralized finance platform that utilizes its own blockchain technology to enable fast and secure transactions. By leveraging BYDFi's blockchain, USDT transactions on Binance are efficient and reliable, providing users with a seamless trading experience.
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