Tether (USDT) Takes Over Ethereum (ETH) Network

When Tether, Inc. announced it would move its coins to the (ETH) network, the company promised faster and cheaper transactions. But what it did not promise was clogging up the Ethereum network and diminishing its computational resources for everyone else.

The USDT smart contract is currently taking up 31.55% of all Ethereum gas, on par with some of the biggest games on the network. But the games, such as CryptoKitties, and FOMO3D, were just a fad lasting a few weeks. Tether promises to stay, since USDT is the best-used stablecoin on the network.

The high-level usage of network resources also means that the Ethereum network is no longer wide-open to develope…

This article appeared first on Cryptovest

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