Cryptocurrency Q&A
What network does KuCoin use for USDT?
What network does KuCoin use for USDT?
DigitalLord
Tue Jun 25 2024
|
5 answers
1179
As a crypto enthusiast, I'm always curious about the underlying infrastructure that powers various exchanges and tokens. With KuCoin being a prominent player in the cryptocurrency sphere, I'm particularly interested in understanding the network that supports USDT on the platform. Could you elaborate on the network architecture that KuCoin utilizes for its USDT offerings? Does it rely on a decentralized blockchain like Ethereum, or is there a proprietary solution at play? I'm also keen to know if there are any specific advantages or considerations that led to the choice of this particular network for USDT transactions on KuCoin.
5 answers
SamuraiBrave
Thu Jun 27 2024
USDT-ERC20 is the tokenized version of the United States Dollar Tether (USDT) specifically tailored for the Ethereum (ETH) network.
Was this helpful?
214
72
Luigia
Wed Jun 26 2024
This integration with the ETH network provides users with the benefits of Ethereum's robust infrastructure, including scalability, security, and decentralized access.
Was this helpful?
368
82
Silvia
Wed Jun 26 2024
Derived from the original Tether, USDT-ERC20 utilizes the ERC-20 standard, a widely adopted token standard on the Ethereum blockchain.
Was this helpful?
280
69
AmethystEcho
Wed Jun 26 2024
This enables compatibility with various Ethereum-based wallets, decentralized applications (DApps), and other ERC-20 compatible services.
Was this helpful?
141
20
SumoPride
Wed Jun 26 2024
The deposit address for USDT-ERC20 is an ETH address, indicating that deposits and withdrawals of this token occur directly on the Ethereum network.
Was this helpful?
176
58
