Tether, the cryptocurrency of the stablecoin type that states that each of its tokens is backed by a US dollar, it is issued by the company Tether Limited and since its origins it has been involved in various controversies.
Tether It was the first stablecoin to exist. It was launched in 2014 by businessman Reeve Collins; bitcoin investor Brock Pierce; and the developer, Craig Stellers. Since then it has become the most important by market capitalization.
Tether was originally available through the Omni Layer, but can now be accessed on several blockchains. With the approval of Tether Limitedyou can switch between USD and Tether, a mechanism that helps keep the stablecoin anchored.
The Tether Limited network is in turn controlled by the owners of the Bitfinex cryptocurrency exchange, which was accused by the New York Prosecutor’s Office to use Tether funds to cover $850 million in missing funds since mid-2018.
While the debate becomes more heated every day about the convenience or not of its use, Tether is trading this day at 0.99931 USD, which represents a change of -0.03% regarding the last 24 hours and a variation of -0.01% with reference to its value reached at 08:30 hours (UTC).
In terms of its market capitalization, it has maintained the position number 3 among digital currencies.
Virtual currencies were born in 2008 as an alternative to the devaluation of several currencies as a result of the economic crisis of that year.
The first digital asset created was the bitcoin and over time others emerged like litecoin, ethereum, bitcoin, cash, ripple, dogecoinsome of the most popular.
Cryptocurrencies work through a cryptographic encryption that guarantees the security of transactions, as well as control of the creation of your coins .
To carry out transactions, Cryptocurrencies use a decentralized database, blockchain, or shared ledger.
It is worth mentioning that cryptocurrencies are digital currencies that do not physically exist and, unlike assets such as the dollar, euro or peso, they are not regulated by any institution and do not need intermediaries in transactions.
The latter has caused cryptocurrencies to not be viewed favorably by the formal market, accusing them of being unreliable, volatile, promoting fraud, not having a legal framework that supports their users, and allowing the operation of illegal activities, among others.
Even so, little by little the way has opened to such a degree that companies, millionaires and even governments have encouraged or legalized its use.
One of the richest men in the world, Elon Musk, has made comments in favor of virtual currencies such as bitcoin and dogecoin, temporarily allowing their use in the electric car company Tesla, which triggered, at the time, the increase in their value .
