Victoria, Hong Kong, June 07, 2022 – Tminer is launching innovative minting hardware called Tether Miner which lets miners earn USDT rewards for running an automated node.
What are stablecoins?
Stablecoins are digital currencies minted on the blockchain that is designed to minimize volatility by one of four underlying collateral structures: fiat-backed, crypto-backed, commodity-backed, or algorithmic. Pegging to a more stable asset like strong national currencies such as the US Dollar, Euro, and the British Pound, backing against other cryptocurrencies or by controlling its supply through an algorithm, provides the stability for these cryptocurrencies as opposed to high volatility unpegged cryptocurrencies such as Bitcoin, Ethereum, or others. This provides a way to take advantage of blockchain technology and peer-to-peer value transfer while not being exposed to high volatility. The market capitalization of stablecoins issued by the largest stablecoin issuers exceeded $160 billion as of Jun 1, 2021. This amount reflects a nearly 3000 percent increase over the preceding thirty months.
How Tether is leading the stablecoin race?
The current market largely consists of a few large U.S. dollar-pegged stablecoins like USDT and USDC. Tether issues several fiat stablecoins and one that is pegged to gold. The most widespread among them is the U.S. dollar-pegged stablecoin USDT which contributes over 45% of all stablecoin in circulation. USDT’s current CoinMarketCap ranking is #3, with a market cap of $72.4 billion at the beginning of June 2022. USDT is not mined and it is not decentralized. It has a central entity, the company Tether, that issues (mints) and destroys (burns) USDT tokens to adjust the supply of coins to user demand. Tether is a second-layer stablecoin token on top of other cryptocurrencies’ blockchains.
How you can buy or earn Tether with Tminer?
The easiest way for the average investor to buy and sell Tether’s stablecoins is through a cryptocurrency exchange. USDT is widely used by traders and is available on most crypto exchanges. The growing consumer interest in Tether has led to new innovations in stablecoin rewards and mining technologies. Tminer is releasing the beta version of its first hardware product, Tether Miner, which has been engineered to reward users with USDT tokens. Tether Miner’s technology is developed to combine the stability of USDT tokens with the rewards mechanism of minting a digital currency.
As per messari.io, the average USDT transaction volume per day in June was just shy of $10 billion. The huge transaction volume and a large number of USDT transactions enable Tminer’s mechanism to leverage the fluctuations in minor USDT prices to benefit from every transaction. Tether Miner, primarily active on the Ethereum blockchain, will balance the supply and demand of circulating USDT, acting as the middlemen between the buyers and sellers of USDT. This innovative technology aims to take a dig at the centralized characteristics of USDT.
An active Tether Miner can reward miners anywhere between 100 to 10,000 USDT per month, depending on the model and version of Tether Miner utilized. Since the algorithm is currently being optimized for the liquidity mass and the volume of USDT in the cryptocurrency market, a limited number of devices will be available during the beta launch. Users can learn more or be a part of the beta launch via Tminer’s website at https://tetherminer.com/
*Initial beta versions of Tither Miner (T-M1, T-M5, and T-M10)