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.
IONC is the official token of IONChain. It can be utilized by different participants in IONChain ecosystem. The maximum supply of IONC is 800 million. It is going to be released gradually for 20 years. After 20 years, the administrative committee elected by IONChain users using the consensus mechanism will decide whether to re-issue IONC tokens based on the amount of on-chain devices, amount of data being processed and the overall level of IONC abundance in the ecosystem. IoT devices and data access constitute the core parts of IONChain ecosystem, therefore IONC token is going to be used to reward devices and data providers. The yearly supply of IONC tokens increases along with the demand for data access. However, the upper limit is pre-set. IONC token is an indispensable part of the IONChain system as it is a single most crucial part of its ecIONChain aims to solve a wide range of the current problems of IoT networks in terms of data security, data circulation, data sharing and data transactions, thus enhancing the efficiency of the whole IoT ecosystem. IONChain introduces the concept of “One Device, One Coin, One Code” which facilitates the integration of IoT devices with the IONChain blockchain network. With the use of Edge Computing technology, it enables every device on the IoT network to be utilized as a mining machine, making every IoT device that uses IONChain subject to mining rewards. Owing to the use of blockchain technology, the data source will always be reliable and verifiable on the IONChain network. Furthermore, the value ofthe data is quantified and data transfers are fast and secured. This makes it easier for IoT standards to emerge, unlocks a plethora of new IoT application scenarios and boosts the whole industry to enter the next level of development.