Tether, cryptocurrency Of the stablecoin type that states that each of its tokens is backed by a US dollar, it is issued by the Tether Limited company 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’s investor, Brock Pierce; and the developer, Craig Stellers. Since then it has become the most important for market capitalization.
Originally Tether was available through Omni Layer, but now you can access them in several blockchains. With the approval of Tether Limitedcan be alternated between USD and Tether, a mechanism that helps maintain the anchor of the stablecoin.
The Tether Limited network in turn is controlled by the owners of the Bitfinex cryptocurrency exchange, which was accused of the New York Prosecutor’s Office to use Tether funds to cover 850 million in missing funds since mid -2018.
The cost of tether cryptocurrency today is 1,000286 dollars. This means that the digital currency recorded A 0.01% change On the last day, as well as a movement of 0.02% at 08:30 hours (UTC).
Due to its capitalization level, this digital currency occupies the Position number #3 among the most popular.
Digital 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 arose like litecoin, ethereum, bitcoin, cash, ripple, dogecoinsome of the most popular.
Cryptocurrencies work through a cryptographic encryption that guarantees the safety of transactions, as well as the control of the creation of their units .
To make transactions, Cryptocurrencies use a decentralized database, blockchain or shared accounting record.
It is worth mentioning that cryptocurrencies are digital assets that do not exist physically and, unlike currencies such as the dollar, the euro or the peso, are not regulated by any institution and do not require intermediaries in transactions.
The latter has caused that cryptocurrencies are not seen with good eyes for the formal market accusing them of being unchanging, volatile, promoting fraud, not having a legal framework that supports its users, allowing the operation of illegal activities, among others.
However, little by little the step to such a degree has been opened that companies, millionaires and even states have encouraged or legalized their use.
One of the richest men in the world, Elon Musk, has made comments in favor of cryptodivisas such as Bitcoin and Dogecoin, temporarily allowing its use in the Tesla electric car company, which triggered, at the time, the increase in its price.
