Tether, the producer of the world’s largest stablecoin USDT, will support the upcoming Ethereum update.
Tether and Circle, the two giants of the stablecoin market, are on the Ethereum blockchain. Merger He made a statement about the update on the same day.
According to the statement made by Tether today, the company will “closely monitor” the work done for this update, and Ethereum network working with proof-of-stake algorithm will support.
A large part of the Ethereum community is based on the proof-of-work algorithm. to break completely Although prepared, some segments use this network. After switching to proof-of-stake algorithm He also wants to keep alive.
The developer of USDC, Circle, stated that it is not interested in a possible fork event in the Ethereum network and just proof-of-stake network announced its support.
Tether management also stated that this update “smoothly” stressed the importance of:
“As Tether, we will follow this process closely and support the POS Ethereum network in accordance with the official schedule. This process smoothly We think its progress is crucial to the long-term health of the DeFi ecosystem.”