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Alternate cryptocurrencies => Altcoin Discussion => Topic started by: adamcro on February 11, 2022, 09:08:32 PM



Title: Is Tether Ethereum?
Post by: adamcro on February 11, 2022, 09:08:32 PM
I've been researching Ethereum and Tether. Tether is token on Ethereum blockchain. But I cannot find any transaction with Tether on Ethereum explorer.
Can someone please clear things up for me?


Title: Re: Is Tether Ethereum?
Post by: hosseinimr93 on February 11, 2022, 10:46:27 PM
First of all, note that tether is not ethereum. Tether (or USDT) is a token that has been issued on many blockchains.
One of the blockchains in which you can make a USDT transaction is ethereum.

All USDT transactions that are made on ethereum blockchain can be seen on any ethereum explorer.
https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c13d831ec7


Title: Re: Is Tether Ethereum?
Post by: asriloni on February 11, 2022, 10:59:06 PM

Why don't you just get the smartcontract from here https://coinmarketcap.com/currencies/tether/markets/ then pasted it to the etherscan? I guess if you can see the activities in ethereum blockchain. it may take a few minutes or even second to just copy paste the smartcontract code and then try to search it on etherscan. You may miss something that makes you are not able seeing it on ethereum blockchain.


Title: Re: Is Tether Ethereum?
Post by: blockman on February 11, 2022, 11:43:09 PM
Tether is token on Ethereum blockchain.
Right but it's not only found in the ethereum blockchain but also in other networks that supports it.

But I cannot find any transaction with Tether on Ethereum explorer.
Can someone please clear things up for me?
As you look at it on a website like etherscan. It's very visible there. Like if you have an ethereum address and you have USDT there, just input your Eth address on etherscan and you'll see that you've been holding it on that address.
Press on the "Token:" drop-down menu as it's found there.


Title: Re: Is Tether Ethereum?
Post by: adamcro on February 12, 2022, 05:17:42 PM
First of all, note that tether is not ethereum. Tether (or USDT) is a token that has been issued on many blockchains.
One of the blockchains in which you can make a USDT transaction is ethereum.

All USDT transactions that are made on ethereum blockchain can be seen on any ethereum explorer.
https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c13d831ec7

On ,any blockchains? Like what?


Title: Re: Is Tether Ethereum?
Post by: vv181 on February 12, 2022, 05:31:31 PM
On ,any blockchains? Like what?
Visit https://coinmarketcap.com/currencies/tether/markets/ and then find "Contracts" On the "More" dropdown button, you can see which blockchains are supported, as of now it includes in 23 cryptocurrencies.

To see the full picture of what Tether actually is, you can refer to their FAQs page: https://tether.to/en/faqs and [UPDATED]PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets (https://bitcointalk.org/index.php?topic=5204055.0) also worth to take a look.


Title: Re: Is Tether Ethereum?
Post by: 7deadlyBTCIN on February 12, 2022, 06:20:37 PM
I've been researching Ethereum and Tether. Tether is token on Ethereum blockchain. But I cannot find any transaction with Tether on Ethereum explorer.
Can someone please clear things up for me?
Tether is just a stable coin that's running on Ethereum smart contract just like other tokens, Tether is the biggest centralised stable coin in crypto space today and it's also available on BSC chain, polygon Matic, Tron TRC20 and many others.

If you want to track tether (usdt) on ETH explorer make sure you have usdt on ETH chain and use etherscan

https://etherscan.io/

If you have usdt on BSC chain make sure you use bscscan explorer for tracking

https://bscscan.com/


Title: Re: Is Tether Ethereum?
Post by: adamcro on February 12, 2022, 09:26:28 PM
So if person A has USDT on Ethereum and person B on Tron, basically those are 2 different tokens a d person A cannot send Tether to person B?


Title: Re: Is Tether Ethereum?
Post by: crzy on February 12, 2022, 09:39:01 PM
I've been researching Ethereum and Tether. Tether is token on Ethereum blockchain. But I cannot find any transaction with Tether on Ethereum explorer.
Can someone please clear things up for me?
Tether is not Ethereum itself, they are just using the technology of ETH same with the other projects. You can see your transactions once you made one or monitor your trade history and go to etherscan to see your transactions. Don’t be confuse about this one, and of course there’s a lot of alternatives now for a cheaper way to transact, not just with ETH network.


Title: Re: Is Tether Ethereum?
Post by: vv181 on February 12, 2022, 09:53:57 PM
So if person A has USDT on Ethereum and person B on Tron, basically those are 2 different tokens a d person A cannot send Tether to person B?
Yep, correct. Since both blockchains are isolated on its own network, inter-transaction of USDT are not possible.

Another scenario is A send USDT on BEP20 chain to B, but B is expecting to receive it on the ERC20 chain. Due to the nature of the underlying technicalities, the transaction will be accepted but the transaction is only happened on the BEP20 chain, not on ERC20, thus B did not receive the token.


Title: Re: Is Tether Ethereum?
Post by: adamcro on February 12, 2022, 10:03:55 PM
So if person A has USDT on Ethereum and person B on Tron, basically those are 2 different tokens a d person A cannot send Tether to person B?
Yep, correct. Since both blockchains are isolated on its own network, inter-transaction of USDT are not possible.

Another scenario is A send USDT on BEP20 chain to B, but B is expecting to receive it on the ERC20 chain. Due to the nature of the underlying technicalities, the transaction will be accepted but the transaction is only happened on the BEP20 chain, not on ERC20, thus B did not receive the token.

Ufff wow, didn't expect it would be so complicated


Title: Re: Is Tether Ethereum?
Post by: bitkanu on February 12, 2022, 10:44:46 PM
So if person A has USDT on Ethereum and person B on Tron, basically those are 2 different tokens a d person A cannot send Tether to person B?


Ethereum and TRON are different blockchain.

Tron used the different sha than Ethereum. That's why you need to send your ethereum USDT to the exchange site that support USDT TRON and then you can convert your USDT ethereum to the USDT tron easily. This is the best way to send person B USDT tron. This is not so complicated but what you need to register on the exchange site like binance to be able to do that.

Exchange site is supporting all of USDT assets like ethereum, TRON or even BSC.


Title: Re: Is Tether Ethereum?
Post by: PX-Z on February 12, 2022, 10:56:52 PM
So if person A has USDT on Ethereum and person B on Tron, basically those are 2 different tokens a d person A cannot send Tether to person B?
Yep, correct. Since both blockchains are isolated on its own network, inter-transaction of USDT are not possible.

Another scenario is A send USDT on BEP20 chain to B, but B is expecting to receive it on the ERC20 chain. Due to the nature of the underlying technicalities, the transaction will be accepted but the transaction is only happened on the BEP20 chain, not on ERC20, thus B did not receive the token.

Ufff wow, didn't expect it would be so complicated
Yes, it is. If you don't know how exactly sending crypto work is, you will end up lossing them upon sending, depositing or withdrawing on exchanges or wallets, though it might have some solution to recover it, but its too technical.


Title: Re: Is Tether Ethereum?
Post by: senyorito123 on February 12, 2022, 11:01:35 PM
I've been researching Ethereum and Tether. Tether is token on Ethereum blockchain. But I cannot find any transaction with Tether on Ethereum explorer.
Can someone please clear things up for me?

Tether can be used on different chain network like tronlink, binance chain, polygon or other platform as long as it will be available. Same with usdt token everything can went out successful if they've listed this asset. You can check at binance chain explorer there's a lot of history.


Title: Re: Is Tether Ethereum?
Post by: 24Kt on February 12, 2022, 11:05:19 PM
So if person A has USDT on Ethereum and person B on Tron, basically those are 2 different tokens a d person A cannot send Tether to person B?
Yep, correct. Since both blockchains are isolated on its own network, inter-transaction of USDT are not possible.

Another scenario is A send USDT on BEP20 chain to B, but B is expecting to receive it on the ERC20 chain. Due to the nature of the underlying technicalities, the transaction will be accepted but the transaction is only happened on the BEP20 chain, not on ERC20, thus B did not receive the token.

Ufff wow, didn't expect it would be so complicated
Yes, it is. If you don't know how exactly sending crypto work is, you will end up lossing them upon sending, depositing or withdrawing on exchanges or wallets, though it might have some solution to recover it, but its too technical.


Later on, the OP will realized that it is not very complicated because USDT is a stablecoin which is present in a lot of blockchains now. And if you want to transact with USDT, make sure you are in the right network. Otherwise, your funds are considered lost.

If you will read this article - https://www.coindesk.com/markets/2020/03/20/tether-stablecoin-launches-on-its-seventh-blockchain/, this article is almost 2 years old already. And at that time, USDT was already present in about 7 chains already - Algorand, EOS, Ethereum, Liquid Network, Omni, Tron and BCH. And I guess, today, there is SOL, MATIC in addition to that and other new networks. If you happen to check the exchanges, it will show you what network you want to use.

Just to give examples on what chains are crypto-exchanges are accepting for USDT.

Binance - https://www.binance.com/en/my/wallet/account/main/deposit/crypto/USDT
https://i.postimg.cc/tC0xM8rS/Screen-Shot-2022-02-13-at-7-15-15-AM.png

MEXC - https://www.mexc.com/assets/deposit?currency=USDT
https://i.postimg.cc/wjgs6LYD/Screen-Shot-2022-02-13-at-7-14-53-AM.png


Title: Re: Is Tether Ethereum?
Post by: poodle63 on February 12, 2022, 11:33:25 PM
yes it's true that tether is running in smart contract platform like ETH and many others, if you want seeing the tether transactions I think you could check it up in their smart contract address and see the list of transactions being made there,
according to my knowledge tether is always trying expanding their product in various smart contract platform, I think we also gonna be seeing tether being released in more and more smart contract platform that’s soon gonna be just as famous as ethereum and there are quite many of them that currently have quite the growth. There are some kinds of tether that built in the various blockchain and this can't be sent from one to the each other


Title: Re: Is Tether Ethereum?
Post by: Scripture on February 12, 2022, 11:39:49 PM
I've been researching Ethereum and Tether. Tether is token on Ethereum blockchain. But I cannot find any transaction with Tether on Ethereum explorer.
Can someone please clear things up for me?
You can't research that because its not, Tether is different from Ethereum though Tether uses the network of ETH just because they are good during that time but as you can see, Tether already adopt other networks just to be more effective since many wants a faster and cheaper network. Tether is doing its own name in this market, they are pretty stable and prefer by many to pair Bitcoin and other altcoins.


Title: Re: Is Tether Ethereum?
Post by: masterrex on February 13, 2022, 08:00:36 AM
I've been researching Ethereum and Tether. Tether is token on Ethereum blockchain. But I cannot find any transaction with Tether on Ethereum explorer.
Can someone please clear things up for me?

I think you are missing some points here, the best way to find USDT transactions in the Ethereum network is via the USDT Tether smart contract on Etherscan, CMC, etc Let us notice that USDT is not only used Ethereum Blockchain because it was used in many different blockchains as well, and Ethereum is only one of them, aside from Ethereum it was also used in OMNI, TRON, BSC, and many others.


Title: Re: Is Tether Ethereum?
Post by: adamcro on February 13, 2022, 08:35:54 AM
Thank you all. It's much more clear now. I was thinking about accepting Tether as a payment currency. But that would make it more complicated for ke since in that case I would need to have wallets on all different blockchains. Also sender needs to know to which wallet to send the coins


Title: Re: Is Tether Ethereum?
Post by: Woodie on February 13, 2022, 09:03:28 AM
First thing first, tether and ethereum are two completely different things... Tether is a token built on the ethereum blockchain and other blockchains like tron and many others, while ethereum is a blockchain and token if you like. So in simpler terms, terther is a token while ethereum is the coin itself.

Btw since you where trying to find tether on the blockchain, use a terther based explorer as others will just give a transaction id for such a transaction.


Title: Re: Is Tether Ethereum?
Post by: Reid on February 13, 2022, 09:07:29 AM
So if person A has USDT on Ethereum and person B on Tron, basically those are 2 different tokens a d person A cannot send Tether to person B?
Yep, correct. Since both blockchains are isolated on its own network, inter-transaction of USDT are not possible.

Another scenario is A send USDT on BEP20 chain to B, but B is expecting to receive it on the ERC20 chain. Due to the nature of the underlying technicalities, the transaction will be accepted but the transaction is only happened on the BEP20 chain, not on ERC20, thus B did not receive the token.
That may be the simplest explanation you could get. But just for example reason I would share mine.
Different chains, different roads or lines.
For example: AT&T can only call AT&T subscirbers. Verizon does the same. So both companies cannot just jump on the lines thus, they will need a bridge for their subscribers to call with each other. I think what he is looking for is the bridge.
An exchange could help at this kind of situations since I don't have a clue if they ever made a bridge that would connect two chains yet.


Title: Re: Is Tether Ethereum?
Post by: Sasha Grey on February 13, 2022, 09:14:35 AM
I've been researching Ethereum and Tether. Tether is token on Ethereum blockchain. But I cannot find any transaction with Tether on Ethereum explorer.
Can someone please clear things up for me?
.
Tether is a token from ERC-20, now the number of holders is more than 4 million and is the token with the largest daily transaction volume or more than 2x the transaction volume of bitcoin, after its success and getting wide recognition now many devs. which develops stable coins like from BUSD, Polygon, Tron and so on.


Title: Re: Is Tether Ethereum?
Post by: zasad@ on February 13, 2022, 11:28:40 AM
I've been researching Ethereum and Tether. Tether is token on Ethereum blockchain. But I cannot find any transaction with Tether on Ethereum explorer.
Can someone please clear things up for me?
Tether uses various blockchains, but most of the tokens in the Ethereum ecosystem. The TRON ecosystem is becoming popular because there are very cheap transactions.
https://tether.to/ru/transparency

Be sure to read this information
Stablecoins and Blacklists
https://bitcointalk.org/index.php?topic=5247581.0


Title: Re: Is Tether Ethereum?
Post by: adamcro on February 13, 2022, 07:49:04 PM
I was thinking about accepting Tether as a payment currency. But that would make it more complicated for me since in that case I would need to have wallets on all different blockchains. Also sender needs to know to which wallet to send the coins
I'm right about this?


Title: Re: Is Tether Ethereum?
Post by: casperBGD on February 13, 2022, 07:51:57 PM
I was thinking about accepting Tether as a payment currency. But that would make it more complicated for me since in that case I would need to have wallets on all different blockchains. Also sender needs to know to which wallet to send the coins
I'm right about this?

no, you do not have to accept USDT on all blockchains, you will accept it on some, and some will not be supported
for example, USDT on Tron is a good example of efficient crypto, that do not take much for transaction, but it could cost some for Ethereum, and you do not have to accept that (although you probably will accept on Ethereum, it is a standard)


Title: Re: Is Tether Ethereum?
Post by: mdzahed134 on February 13, 2022, 08:14:56 PM
I've been researching Ethereum and Tether. Tether is token on Ethereum blockchain. But I cannot find any transaction with Tether on Ethereum explorer.
Can someone please clear things up for me?
First of all Tether isn’t only with Ethereum blockchain, in there are several network if you can make transaction as like BEP-20,TRON both of very cheaper in comparing transfer fees with Ethereum network. You can scan your tokens on etherscan if you will make transact Tether on Eth blockchain.  


Title: Re: Is Tether Ethereum?
Post by: vv181 on February 13, 2022, 09:01:27 PM
I was thinking about accepting Tether as a payment currency. But that would make it more complicated for me since in that case I would need to have wallets on all different blockchains. Also sender needs to know to which wallet to send the coins
I'm right about this?
It actually depends on you whether on which chain will you accept the payment. You can simply accept it only on ERC20 as an example, and then you can state you only accept it on the Ethereum chain to the sender(s).

If I might ask, do you already have a payment processor or do you want to receive the payment manually?


Title: Re: Is Tether Ethereum?
Post by: adamcro on February 14, 2022, 07:01:59 AM
I have a payment processor


Title: Re: Is Tether Ethereum?
Post by: vv181 on February 15, 2022, 11:39:29 PM
@adamcro AFAIK, depending on which payment processor you picked, they probably didn't support many USDT chains thus they only support the bigger network one like ERC20 or BEP20. Regarding the sender, I believe the payment processor itself will show in the payment page/popup/link which chain they accept. The problem is, just like many exchanges there may be some users that still incorrectly send funds on the wrong chain, no matter how they handle the recoverability of the fund, it's better if you state it on your ToS.

A few things that I also know but not specifically about Tether, some payment processors will be able to automatically settle the payment into a cryptocurrency that you choose, of course, there will be some fee, but if the option is preferable for you, it will be good since you didn't have to withdraw the payment into a lot of chain/cryptocurrencies.