- New blockchain Stable uses USDT as native currency; advised by Tether CEO Paolo Ardoino and backed by Bitfinex exchange.
- USDT pays gas fees, peer transfers are free; USDT0 enables cross-chain moves; apps can avoid gas fees.
Tether CEO Paolo Ardoino has announced that the company will open-source its Bitcoin mining operating system, MOS. Ardoino says this step will let smaller mining firms compete alongside established players, boosting network security. Moreover, MOS removes the need for third-party software, opening the door to a horde of new miners.
The OS features a peer-to-peer IoT architecture. Therefore, it can scale from a single Raspberry Pi to multiple mainframes that monitor hundreds of thousands of miners. It also includes prebuilt plugins for common mining rigs, containers, and power equipment. Meanwhile, developers can build custom plugins to support specific hardware, encouraging community contributions.
Additionally, Tether has minted $1 billion USDT on Tron in the past two months. Consequently, the launch of MOS follows this surge in stablecoin supply. In sum, Ardoino believes MOS will create a fairer field, reduce operating costs, and fortify Bitcoin’s security.
New Blockchain “Stable” Uses Tether’s USDT as Native Currency, Backed by Ardoino and Bitfinex
A new blockchain called Stable launched its development phase. Paolo Ardoino, CEO of Tether, advised its creation. Cryptocurrency exchange Bitfinex also supports the project. Stable operates as a layer-1 blockchain network. USDT, Tether’s dollar-linked stablecoin, serves as its native currency.
The Stable team announced the network on social media. They stated USDT pays for transaction fees, known as gas. Peer-to-peer transfers of USDT between users cost nothing on this chain. The platform is currently in internal testing. Developers are adding tools for wallets, applications, and custody solutions.
Stable lists specific technical features:
- USDT pays gas fees during transfers.
- USDT transfers between users are free.
- USDT0 enables cross-chain movement of USDT value.
- Smart contracts execute using stablecoins.
- Applications can offer a user experience without gas fees.
- Native connections exist for converting between fiat currency and crypto.
The chain avoids using cross-chain bridges. Stable claims this makes using the blockchain less noticeable for users. The stated goal is for the underlying technology to eventually become invisible during use.
Stable positions itself as an intermediary-free system handling dollar transactions. It aims to function as programmable infrastructure for digital dollars using distributed accounting. Settlement, credit, remittances, and currency exchange all occur on-chain, according to Stable.
It utilizes USDT0, a standard designed to make USDT universally consistent across different blockchains. USDT0 evolved from Tether’s original code. It employs the Omnichain Fungible Token (OFT) standard from LayerZero.
