Tether (USDT) is a cryptocurrency asset released in a blockchain of flats through the Omni Layer Protocol.
Each USDT block is supported by the US dollar, kept in Tether Limited reserves, and repaid through the Tether platform. USDT can be forwarded, stored, spent as bitcoins or any other crypto currency.
USDT and other Tether currencies were created to facilitate the transfer of national currencies, providing users with a stable alternative to Bitcoin and providing a choice for exchange checks and purses that are currently unreliable. USDT provides an alternative to evidence of solvency methods by introducing proof of the reservation process.
In the Tether Proof of Reserves system, the amount of USDT in circulation can be easily verified and tested on a block of flats using the tools provided at Omnichest.info, while the corresponding total amount of holdings in dollars is confirmed by the publication of the bank balance sheet and periodic verification by professionals.