The cryptocurrency trading platform Kucoin has announced that it is now accepting deposits of Tezos USDT (Tether). The announcement comes after Tether was recently integrated into Tezos, the largest stablecoin in the world by market cap. Tezos USDT support on KuCoin is a huge step forward for the blockchain that can self-amend and use less energy.
Tezos has successfully upgraded 11 times so far, earning it a reputation for being a fork-free platform. In the near future, enhancements like permanent positive rollups will be a part of upcoming updates. All computation is verifiable and recorded on the blockchain, allowing for specialized, high-throughput Layer 2 solutions for the EVM and WASM virtual machines.
Tezos’s NFT and DeFi communities have been expanding rapidly, and this announcement is another proof of that. It features prominent community members such as top NFT marketplace Objkt.com, generative art platform fx(hash), yield farming platform Youves, and decentralized exchange and EVM bridge Plenty. Tezos has become one of the most popular blockchains in and is home to one of the largest developer communities. In addition, the company has established strategic alliances with renowned institutions such as Manchester United, McLaren Racing, Team Vitality, The Gap, and more.
Tezos is competitive in terms of energy efficiency and offers the added benefit of being easily scalable and upgradeable. Many investors care deeply about maintaining a small ecological imprint. Therefore, energy efficiency is an important factor for them to take into account.
In addition, businesses with Environmental, Social, and Governance (ESG) commitments and looking to reduce their carbon footprints might choose Tezos. This trend is likely to continue in the coming years. Also, the push towards energy efficiency explains why Ethereum recently conducted “The Merge”, which marked the transition from Proof of Work (PoW) to Proof of Stake (PoS).
This post was last modified on Oct 14, 2022, 17:47 BST 17:47