Tether, the blockchain-enabled platform that powers the largest stablecoin by market capitalization, is live on Bitcoin Cash via the Simple Ledger Protocol (SLP), providing users with access to a chain supporting large blocks and low transfer fees.
The Bitcoin Cash network prioritizes onchain scaling and utility as a peer-to-peer electronic cash system, supporting large blocks, with low transfer fees of about 1 satoshi and low confirmation. This provides the capacity for small amounts to be quickly sent across the network.
“A key strength of Tether is that it is underpinned by a rich diversity of different blockchains,” said Paolo Ardoino, CTO at Tether. “Our latest collaboration with Bitcoin Cash will provide Tether with a variety of benefits. We expect the adoption after launch to be pretty easy for any integrator. The launch will also support more applications on the Bitcoin Cash chain, with Tether facilitating payment for these applications.”
"It's extremely exciting to hear that the world's biggest stablecoin will be using the Bitcoin Cash Blockchain and that the millions of Bitcoin.com wallet holders will be able to send and receive Tether using SLP tokens," said Roger Ver, Executive Chairman of Bitcoin.com.
Tether’s launch on SLP underlines its central role within the cryptocurrency ecosystem.Tether is the preeminent and market-leading stablecoin with a market capitalization of $5.5 billion. Tether's success and popularity is based upon its status as the most liquid, stable and trusted product.
In addition to the collaboration with Bitcoin Cash, Tether also works with Algorand, Ethereum, EOS, Liquid Network, Omni and Tron. Tether is driven to support and empower growing ventures and innovation in the blockchain space.
