USDT Live on Hermez Network
Evening
USDT went live on Hermez today. Hermez is a zk-SNARK Rollup based layer 2 scalability solution that went live on Ethereum main-net last month, promises faster and cheaper transactions across Ethereum network.
Tether's CTO, Paolo Ardoino said:
We’re delighted to be the first to launch on Hermez. This demonstrates our commitment to solving the issues of scalability and high transaction fees on the Ethereum network. Tether takes its pivotal role in the digital token ecosystem seriously. We’re committed to overcoming technical hurdles while doing our utmost to make manifest the many great projects that developers are working on in our space.
USDT is by far Tether's most used stable coin with market cap of above $48 billions. Last month USDT launched on Solana and plans on expanding to Polkadot and Kusama soon.
2nd scalability solutions continues to gain traction as the Ethereum continues to suffer from rising gas fees, amidst defi and NFT craze this year.
Posted Using LeoFinance Beta
I wonder how much it costs to tranfer usdt on eth network. I tried on bnb it took 1$ usdt as fee. Is it cheaper than bnb
By BNB you mean...BSC??? Right!!!
Posted Using LeoFinance Beta
Yes smart chain network
Well the transaction fees on Ethereum network is 20$+ these days.
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