{"id":186264,"date":"2021-04-06T11:11:30","date_gmt":"2021-04-06T10:11:30","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=186264"},"modified":"2021-11-03T00:55:29","modified_gmt":"2021-11-03T00:55:29","slug":"polkadots-network-prepares-to-welcome-tether-usdt","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/polkadots-network-prepares-to-welcome-tether-usdt\/","title":{"rendered":"Polkadot&#8217;s network prepares to welcome Tether USDt"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\"><a href=\"https:\/\/cryptoslate.com\/coins\/polkadot\/\">Polkadot<\/a>\u2019s network utility is about to experience a significant boost. With the upcoming parachain rollout, the protocol will finally realize its scalable multi-chain architecture.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Although the new functionality is currently running on a testnet, developers are already preparing for it.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Enjin recently <a href=\"https:\/\/cryptoslate.com\/enjin-builds-nft-focused-blockchain-on-polkadot-dot\/\">announced<\/a> the launch of a next-generation NFT blockchain on the Polkadot network called Efinity. The project is set to enable highly scalable transactions for games, apps, enterprises, and creators. Thanks to the protocol\u2019s speed, developers expect to process transactions every six seconds under a proof-of-stake consensus algorithm that can scale to 1,000 transactions per second.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Now, <a href=\"https:\/\/cryptoslate.com\/coins\/tether\/\">Tether<\/a> revealed that the world\u2019s largest stablecoin in the market, USDt, will be running on top of the Polkadot blockchain.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"><a href=\"https:\/\/cryptoslate.com\/people\/paolo-ardoino\/\">Paolo Ardoino<\/a>, CTO at Tether, said that the network\u2019s infrastructure to provide an environment for cross-chain composability of multiple applications and protocols made it ideal to offer access to \u201cthe most liquid, stable and trusted stablecoin.\u201d<\/span><\/p>\n<blockquote><p><span data-preserver-spaces=\"true\">\u201cPolkadot is one of the most exciting projects in the digital token ecosystem and we anticipate a ready uptake of the Tether token as it powers Polkadot\u2019s emerging DeFi ecosystem. Polkadot, with its parachain structure, has the ability to grow significantly in the coming years. This growth will be driven by its high level of scalability,\u201d said Ardoino.\u00a0<\/span><\/p><\/blockquote>\n<p><span data-preserver-spaces=\"true\">USDt will go live first on <a href=\"https:\/\/cryptoslate.com\/coins\/kusama\/\">Kusama<\/a> to serve as a value-bearing testbed before the launch of Polkadot.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Trading veteran turn bullish on DOT<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">While the Polkadot ecosystem is expected to grow exponentially following the parachain launch, DOT\u2019s price is living up to all the hype.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to 40-years trading veteran <a href=\"https:\/\/cryptoslate.com\/people\/peter-brandt\/\">Peter Brandt<\/a>, the fifth-largest cryptocurrency by market capitalization has\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.tradingview.com\/chart\/DOTUSDT\/kDHGqWCL-DOT-heading-higher\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">broken out<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0of a symmetrical triangle that developed on its daily chart. Following a month-long consolidation period, DOT was able to slice through the $39 resistance level recently.\u00a0<\/span><\/p>\n<figure id=\"attachment_186265\" aria-describedby=\"caption-attachment-186265\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-186265 size-large\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/download-6-1024x576.png\" alt=\"Polkadot US dollar price chart\" width=\"1024\" height=\"576\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/download-6-1024x576.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/download-6-300x169.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/download-6-768x432.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/download-6-1536x864.png 1536w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/download-6-2048x1152.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption id=\"caption-attachment-186265\" class=\"wp-caption-text\">DOT\/USD on <a href=\"https:\/\/www.tradingview.com\/symbols\/DOTUSD\/\">TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">If the bullish momentum behind Polkadot continues, it would likely continue rising towards a new all-time high of over $55. This target is determined by measuring the height of the triangle\u2019s y-axis and adding that distance to the breakout point.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polkadot\u2019s network utility is about to experience a significant boost. With the upcoming parachain rollout, the protocol will finally realize its scalable multi-chain architecture.\u00a0 Although the new functionality is currently running on a testnet, developers are already preparing for it.\u00a0 Enjin recently announced the launch of a next-generation NFT blockchain on the Polkadot network called [&hellip;]<\/p>\n","protected":false},"author":148,"featured_media":186275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,77082,15323,32631],"tags":[67749],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Polkadot&#039;s network prepares to welcome Tether USDt<\/title>\n<meta name=\"description\" content=\"Tether revealed that its stablecoin, USDt, will soon run on top of the Polkadot blockchain, boosting the network&#039;s utility.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/polkadots-network-prepares-to-welcome-tether-usdt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Polkadot&#039;s network prepares to welcome Tether USDt\" \/>\n<meta property=\"og:description\" content=\"Tether revealed that its stablecoin, USDt, will soon run on top of the Polkadot blockchain, boosting the network&#039;s utility.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/polkadots-network-prepares-to-welcome-tether-usdt\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-06T10:11:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-03T00:55:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/tether-dot.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ali Martinez\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ali Martinez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/polkadots-network-prepares-to-welcome-tether-usdt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/polkadots-network-prepares-to-welcome-tether-usdt\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ali-martinez\/#person\",\"name\":\"Ali Martinez\",\"url\":\"https:\/\/cryptoslate.com\/author\/ali-martinez\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/ali-martinez\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ali-martinez\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/04\/victor-charles-profile-e1555981456737-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/04\/victor-charles-profile-e1555981456737-300x300.jpg\",\"caption\":\"Ali Martinez\"},\"jobTitle\":\"Analyst\",\"description\":\"Ali came across Bitcoin\u2019s whitepaper in 2014. 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