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This expansion, according to a post released by Tether, is totally plausible as it advances partnerships and cooperation within the developing digital asset community.
The post highlights that Tether believes that Algorand is unquestionably qualified for the job as the two crypto entities share a similar vision and goals. Tether explains that deploying Tether to Algorand blockchain will further expedite the creation of a blockchain-based community built around unconstrained P2P value exchange. Tether expresses its unadulterated joy for the new partnership and excitement as it embarks on the journey with “excellent Algorand team.”
Algorand – Decentralized, Scalable, Secure Blockchain
Regarding the new collaboration with Algorand, Tether’s Chief Technology Officer (CTO) Paolo Ardoino stated:
“extending Tether into the Algorand ecosystem is a fantastic opportunity for us to further contribute to Blockchain interoperability and collaboration. Algorand is an excellent team very much aligned with ours; we are proud to take this next step with them. We are very excited about the potential this enables for other projects in the decentralized ecosystem and we eagerly await working closely with many of them in the future.”
Algorand, on the other hand, has contributed greatly to the crypto community since its inception. The platform is primarily focused on fulfilling the promise of blockchain technology via its protocol and open-source software, especially designed by Silvio Micali and a team of first-rate scientists.
With more focus on public and permissionless blockchain that allows users to harness the potential of an equitable and totally borderless economy, it wouldn’t be out of place to say Algorand is a good fit with Tether’s future prospect.
Thanks to its permissionless proof-of-stake (POS) blockchain and open source approach, Algorand is poised to solve the three major drawbacks of the crypto community by making it not just decentralized but also scalable and completely secure. All at a stretch.
We hope to see how well this project plays out. We look forward to seeing visible positive changes in the crypto sector in the near future.
As one of the widely known stablecoins, Tether (USDT) has made it a point of duty to scale up its functionality for the crypto community using every resource at its disposal over the past year. This includes collaborating with partners which share the same targets and goals.
Since its inception five years ago, the goal has always been to transform legacy markets through the development of stable and secure virtual assets. And Tether has worked tirelessly to bring this dream to fruition. Well, it seems the popular stablecoin isn’t slamming the brakes anytime soon.