Tether, the cryptocurrency of the stablecoin type that affirms that each of its tokens is backed by one 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.
Originally tether was available through the Omni Layer, but now they can be accessed in various blockchain. 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 Attorney’s Office of using Tether funds to cover 850 million in missing funds since mid-2018.
Investors and regulators of cryptocurrencies have also joined the debate by pointing out that the stablecoin is not fully guaranteed, a situation that has taken it to court because its users have no guarantee that their tokens can be exchanged for dollars. On April 30, 2019, the company’s lawyer confirmed that the token was tied to a change of $0.74.
In 2018, the Bloomberg media revealed that the tether company was under investigation by the United States Federal Prosecutor for an alleged manipulation of bitcoin; the following year this crypto surpassed the most popular in trading volume per day and monthly.
Tether’s price for today is 1.0001853 dollarswhich means that the cryptocurrency had a change of -0.02% in the last day.
On the other hand, it registered a change of -0.01% from its value an hour ago. As for his popularityis located in position #3.
cryptocurrencies They are ceasing to be outsiders and have begun to enter the language of everyday life, arousing the interest of those who are concerned about finances or even to the point of being legalized in some regions of the world.
As its name says, virtual currencies use cryptographic or encryption methods to carry out transactions in a deregulated system and, most of them, through block chains (blockchain), which moves it away from traditional models where banks function as intermediaries.
Its innovation has caused many people to be interested in investing in digital currencies, since its value has increased considerably in recent years, being bitcoin, ethereum and dogecoin the most popular and the ones with the largest capitalization in the market.
Each of these units are created through a process called “mining” and users can acquire them through various agents or cryptocurrency exchanges, to later store them in “cryptographic wallets” or make various transactions with them through unique keys.
Although It was in 2009 when bitcoin entered the market as the first cryptocurrency in the world.the truth is that these are just experiencing a boom in the financial field, so it is expected that their use will increase in the not so distant future.
Cryptocurrencies have different characteristics that make them unique: not being controlled by any institution; not require third parties in transactions; and almost always use accounting blocks (blockchain) to prevent new cryptocurrencies from being created illegally or transactions already made from being modified.
However, by not having regulators such as a central bank or similar entities They are pointed out as unreliable, volatilepromoting fraud, not having a legal framework that supports its users, allowing the operation of illegal activities, among others.
Although it could be a paradox, cryptocurrencies in turn guarantee security to their miners in terms of the network in which it is located (lattice) and that implies code management; breaking this security is possible but not so easy to achieve because whoever tried it would have to have a computational power superior even to that of Google itself.
Whoever invests in this type of digital currency must be very clear that this form brings with it a high risk to capitalWell, just as there can be an increase, it can also unexpectedly crash and wipe out the savings of its users.
To store them, users must have a digital purse or wallet, which is actually a software through which it is possible to save, send and make transactions of cryptocurrencies. In reality, this type of wallet only stores the keys that mark the property and the right of a person over a certain cryptocurrency, so these codes are the ones that really must be protected.
