Tether CEO Paolo Ardoino has pushed apart most contemporary hypothesis relating to the firm’s plans to launch a proprietary blockchain network.

In a Nov. 3 post on X, Ardoino clarified that Tether would no longer intend to create its blockchain. He emphasised the firm’s space by writing:

“Tether is no longer planning to create an official blockchain right this moment.”

Tether, the issuer of USDT—the arena’s greatest stablecoin with a market cap of over $120 billion—operates across over ten blockchain networks. These encompass Ethereum, Solana, TON, Aptos, and Algorand.

Why Tether is no longer launching a blockchain network

Ardoino explained that Tether values “neutrality” and prefers no longer to centralize its operations by a proprietary blockchain. As a substitute, the firm is centered on supporting USDT integration across present networks, at the side of enhance for gasoline fees.

Ardoino furthered Tether’s vital interest in partnerships with other companies and communities. He emphasised that the firm’s mission is “Unstoppable TogETHER,” aligning with a collaborative contrivance relatively than making an strive to consolidate control beneath its chain.

In the interim, Ardoino didn’t rule out the risk of launching a blockchain within the distant future. On the other hand, he notorious that his commentary was as soon as an strive and “no longer exclude any risk.”

Blockchain networks

Tether’s stance contrasts with a most contemporary sort within the replace, where more companies are creating their very bask in blockchain networks.

Centralized exchanges cherish Coinbase and Kraken bear entered the space with their Ethereum layer-2 networks, Putrid and Ink, respectively. Equally, the DeFi platform Uniswap launched its scaling resolution, Unichain, and the identity-centered crypto project World launched World Chain.

At the same time, other DeFi gamers cherish Aave are exploring network sort tailored to their user communities.

On the other hand, critics cherish Sonic Labs co-founder Andre Cronje warning towards the frenzy to create original networks. He highlights challenges corresponding to excessive infrastructure fees, fragmented liquidity, and restricted developer enhance, suggesting these factors would maybe also inhibit the trendy adoption of these proprietary networks.

Talked about in this text

Tether Ethereum Solana Aptos Tether Runt Coinbase Kraken Uniswap Paolo Ardoino

Author

Oluwapelumi Adejumo

Journalist at CryptoSlate

Oluwapelumi values Bitcoin's skill. He imparts insights on a unfold of matters cherish DeFi, hacks, mining and culture, underlining transformative energy.

@hardeyjumoh LinkedIn Email Oluwapelumi

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Liam 'Akiba' Wright

Editor-in-Chief at CryptoSlate

Also identified as "Akiba," Liam Wright is the Editor-in-Chief at CryptoSlate and host of the SlateCast. He believes that decentralized technology has the capacity to create trendy obvious alternate.

@akibablade LinkedIn Email Editor

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