What is Tether?
Tether (USDT) is a cryptocurrency with reference to fiat currencies that are issued by Tether Limited Company. Using the technology of Blockchain, Tether allows the users to keep, send and receive digital tokens pegged to dollars, euros, and yens. Tether uses blockchain via the Omni Layer protocol.
The Omni Layer protocol is the software with an open-source code that interacts with blockchain, ensuring the release and redemption of cryptocurrency token on the basis of Bitcoin. It is not known how Tether tokens are created. Tether will absorb all Blockchain fees when sending money from your Tether wallet. Despite the stated parity of USDT and USD, the cryptocurrency price is always a little off for a few cents.