Tether Will Support Proof of Stake, Here Are The Details!
Tether Will Support Proof of Stake, Here Are The Details! On August 9th, Tether posted the latest update of its support to Proof-of-Stake (PoS) on Twitter. To add the information, ‘The Merge’ is an upgrade from Proof-of-Work (PoW) to Proof-of-Stake (PoS).
The Announcement
On August 9th, Tether announced on Twitter its intention to support PoS. The company considers the change “the most significant moments in blockchain history.”
USD₮ Supports ETH Proof-of-Stake Transition https://t.co/gMcEYl3aI0
— Tether (@Tether_to) August 9, 2022
Tether stated, “Tether believes that in order to avoid any disruption to the community, especially when using our tokens in DeFi projects and platforms, it’s important that the transition to POS is not weaponized to cause confusion and harm within the ecosystem.”
Tether added that they keep following the progress and preparing for the upcoming event in September. The company also emphasized it will support the PoS Ethereum.
Tether ended the announcement by saying, “We believe [that] a smooth transition is essential for the long-term health of the DeFi ecosystem and its platforms, including those using our tokens.”
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