Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S. dollar. The idea was to create a stable cryptocurrency that can be used like digital dollars. Coins that serve this purpose of being a stable dollar substitute are called “stable coins.” Tether is the most popular stable coin and even acts as a dollar replacement on many popular exchanges! According to their site, Tether converts cash into digital currency, to anchor or “tether” the value of the coin to the price of national currencies like the US dollar, the Euro, and the Yen. Like other cryptos it uses blockchain. Unlike other cryptos, it is [according to the official Tether site] “100% backed by USD” (USD is held in reserve). The primary use of Tether is that it offers some stability to the otherwise volatile crypto space and offers liquidity to exchanges who can’t deal in dollars and with banks (for example to the sometimes controversial but leading exchange Bitfinex). The digital coins are issued by a company called Tether Limited that is governed by the laws of the British Virgin Islands, according to the legal part of its website. It is incorporated in Hong Kong. It has emerged that Jan Ludovicus van der Velde is the CEO of cryptocurrency exchange Bitfinex, which has been accused of being involved in the price manipulation of bitcoin, as well as tether. Many people trading on exchanges, including Bitfinex, will use tether to buy other cryptocurrencies like bitcoin. Tether Limited argues that using this method to buy virtual currencies allows users to move fiat in and out of an exchange more quickly and cheaply. Also, exchanges typically have rocky relationships with banks, and using Tether is a way to circumvent that. USDT is fairly simple to use. Once on exchanges like Poloniex or Bittrex, it can be used to purchase Bitcoin and other cryptocurrencies. It can be easily transferred from an exchange to any Omni Layer enabled wallet. Tether has no transaction fees, although external wallets and exchanges may charge one. In order to convert USDT to USD and vise versa through the Tether.to Platform, users must pay a small fee. Buying and selling Tether for Bitcoin can be done through a variety of exchanges like the ones mentioned previously or through the Tether.to platform, which also allows the conversion between USD to and from your bank account.
GSC (Global Social Chain) is the world's first new generation of social networking chain that owns hundreds of millions of social users. This social chain is determined to use block chain technology to subvert centralized social networks such as Facebook, WeChat, etc., which plays a dual role as 'manager' and 'arbiter' simultaneously for the former social networking platforms. Social network is the most important basic measure of the Internet. It conveys the user's daily high frequency interactive behavior. However, at present, all the centralized social networking platforms, such as Facebook, Snapchat, etc., are facing many pain points. The security of users' private information cant be guaranteed; The user data can be used by the platform at any time; There is a lack of incentive as the values created within the content of the user belong, at last, to the platform; Credit system vulnerability, false information, and low social efficiency. The social network is a natural source applied to the centralized block chain technology. GSC's vision is to utilize the block chain technology to restructure the values of the next generation of social networking platforms and let the security of the private data and the digital assets become individual. Through the in-depth cooperation with the famous social networking application Mico, we have the chance to validate the solution of the block chain technology on the product matrix of Mico and made very effective progress.