USDT to Launch on Bitcoin's LN (Taproot assets)

BlackBoss_

sr. member

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Rollbit is for you. Take $RLB token!

Quote from: OmegaStarScream on Today at 03:56:06 AM

As you all know, USDT first started in Bitcoin's omni layer, but ended up discontinuing it due to the lack of demand.

Lack of demand because of expensive Bitcoin transaction fees in the past and appearances of altcoin blockchain with cheaper transaction fees.

Quote

Well, here they are now, announcing that they'll start to support Bitcoin again through the lightning network[1][2].

With Bitcoin Lightning Network, transaction fee will be very tiny and cheap, so USDT on Bitcoin LN will be competitive enough with USDT on altcoin blockchains. If picking between Bitcoin Lightning Network and altcoin blockchains, I think Bitcoin Lightning Network is safer and more secured.

USDT itself has big risks, just be careful when using USDT generally.
PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets

Findingnemo

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Bitcoin = Financial freedom

Quote from: OmegaStarScream on Today at 03:56:06 AM

If exchanges jump aboard and start supporting Taproot assets USDT, I think this is just a matter of time until we see other stablecoins or tokens on Bitcoin's blockchain.

Withdrawal fees plays major role in the revenue of an exchange so if they plan to integrate this model then it will affect their potential earnings so I doubt it will be encourages by any centralized platforms.

This integration will solve the long and expensive withdrawals of USDT from exchange with a better security but overall it's still USDT so it has no other real purpose beyond trading or is this the new way of infusing the fiat money into the crypto especially on bitcoin's network?

ABCbits

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It's good to see more choice of using USDT without totally leaving Bitcoin network, since currently your only choice is using Liquid network (Bitcoin sidechain). Let's hope it'll be followed by more wallet, exchange and service supporting LN (along with Taproot assets).

Sanitough

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Anything that reduces costs and improves Bitcoin’s scalability is definitely a good thing.

I think USDT really needs this, especially after European exchanges started banning it, which surely cut into their profits.
With this development, and hopefully with exchange support, people might start using off-chain transactions more for faster and cheaper transfers.

If major exchanges get on board, I can see this plan having a real chance of success.

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I need to dig deeper into the articles, but the news is great, in my opinion.
It would be another victory for BTC in the long run.

OmegaStarScream

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As you all know, USDT first started in Bitcoin's omni layer, but ended up discontinuing it due to the lack of demand.

Well, here they are now, announcing that they'll start to support Bitcoin again through the lightning network[1][2].

If exchanges jump aboard and start supporting Taproot assets USDT, I think this is just a matter of time until we see other stablecoins or tokens on Bitcoin's blockchain.

[1] https://x.com/lightning/status/1885083485678805424
[2] https://cointelegraph.com/news/tether-usdt-stablecoin-integrates-bitcoin-lightning

Topic: USDT to Launch on Bitcoin's LN (Taproot assets) (Read 31 times)