{"id":27891,"date":"2020-08-29T12:20:44","date_gmt":"2020-08-29T09:20:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27891"},"modified":"2025-08-26T23:47:26","modified_gmt":"2025-08-26T20:47:26","slug":"tether-moves-first-millions-of-usdt-to-ethereum-sidechain","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/tether-moves-first-millions-of-usdt-to-ethereum-sidechain\/","title":{"rendered":"Tether moves first millions of USDT to Ethereum sidechain"},"content":{"rendered":"<p>The issuer of the stablecoin Tether transferred 3 million USDT to the OMG Network sidechain, a solution for Ethereum scaling.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">HUGE MILESTONE for the Bitfinex and <a href=\"https:\/\/twitter.com\/omgnetworkhq?ref_src=twsrc%5Etfw\">@omgnetworkhq<\/a> integration with a 3M <a href=\"https:\/\/twitter.com\/search?q=%24USDt&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$USDt<\/a> transaction \ud83c\udf89<a href=\"https:\/\/t.co\/xesjR1Qk1X\">https:\/\/t.co\/xesjR1Qk1X<\/a> <a href=\"https:\/\/t.co\/ruOhbDMHFA\">pic.twitter.com\/ruOhbDMHFA<\/a><\/p>\n<p>\u2014 Bitfinex (@bitfinex) <a href=\"https:\/\/twitter.com\/bitfinex\/status\/1299316023770992642?ref_src=twsrc%5Etfw\">August 28, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Following the <a href=\"https:\/\/u1f987.com\/en\/news\/tether-integrates-into-ethereum-sidechain-with-thousands-of-tps\">integration<\/a> of Tether into OMG Network last week, it marked the first major transaction.<\/p>\n<p>The company said sidechain support would cut costs, boost throughput, and relieve pressure on the main network.<\/p>\n<p>Chief Technology Officer Paolo Ardoino told The Block that Layer 2 solutions are growing increasingly popular as a scalability mechanism for popular blockchains \u2014 Bitcoin&#8217;s Lightning Network, as well as OMG and zkRollups for Ethereum.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">re: Layer 2 approach in general<br \/>\n\u201cI believe this is the most correct and clean approach from a technical and future-proof point of view\u201d <a href=\"https:\/\/t.co\/wStYCzsnuk\">https:\/\/t.co\/wStYCzsnuk<\/a><\/p>\n<p>\u2014 Paolo Ardoino (@paoloardoino) <a href=\"https:\/\/twitter.com\/paoloardoino\/status\/1299377457523560449?ref_src=twsrc%5Etfw\">August 28, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>These networks enable sending an order of magnitude more transactions, while relying on the security of the main blockchain, Ardoino noted.<\/p>\n<blockquote>\n<p>\u201cI believe this is the most correct and clean approach from a technical and future-proof point of view,\u201d he added.<\/p>\n<\/blockquote>\n<p>This week the market capitalization of the most popular stablecoin <a href=\"https:\/\/u1f987.com\/en\/news\/tether-overtakes-bitcoin-by-weekly-transfer-value\">surpassed<\/a> 13 billion. More than 8.6 billion USDT have been issued on Ethereum.<\/p>\n<p>Earlier, Chainalysis analysts said that Tether <a href=\"https:\/\/u1f987.com\/en\/news\/chainalysis-analyzes-east-asia-on-chain-activity-chinese-capital-flowing-into-usdt\">became<\/a> one of the popular tools for capital outflows from China.<\/p>\n<p>Follow Forklog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The issuer of the stablecoin Tether transferred 3 million USDT to the OMG Network sidechain, a solution for Ethereum scaling.<\/p>\n","protected":false},"author":1,"featured_media":27892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1891,488,1245],"class_list":["post-27891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-omg-network","tag-sidechains","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=27891"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27891\/revisions"}],"predecessor-version":[{"id":27893,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27891\/revisions\/27893"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/27892"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=27891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=27891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=27891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}