Popular science: What types of USDT are there?

USDT is issued by the centralized company Tether. Currently, there are 3 different types of USDT in the market. Today, the vernacular blockchain will briefly introduce these three different types of USDT.

Three different types of USDT

The first is Bitcoin-based USDT (issued based on the Omni protocol). This kind of USDT is stored on the Bitcoin address, so every time you transfer (on-chain transfer), you need to pay a small amount of Bitcoin as a miner's fee.

In addition to the need for Bitcoin as a miner's fee for the transfer, every time a USDT transfer is initiated, a correspondingly small amount of Bitcoin transfer will be generated. Therefore, every time a Bitcoin-based USDT transfer is initiated, there must be at least 0.0002 Bitcoin in the wallet address to ensure the transfer is successful. At the same time, when the recipient receives a USDT transfer, he will also receive a minimum amount of Bitcoin transfer.

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The second is Ethereum-based USDT (issued based on the ERC-20 protocol). This kind of USDT is stored on the Ethereum address. Correspondingly, each transfer (transfer on the chain) needs to consume Gas, that is, ETH.

Currently, USDT in the market is mainly concentrated on Bitcoin and Ethereum.

The third type of USDT is the USDT issued based on the TRON network (TRON). The TRC-20 USDT based on the TRON network is stored in the TRON address, and the recharge and withdrawal are all carried out through the TRON network, and the transfer is free.

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Which of the above three USDT transfers is the fastest? Because the TRON network reaches thousands of TPS, the transfer is currently the fastest.

Which USDT transfer is the safest? Some people say that TRON’s DPoS 27 supernodes are not as secure as the other two networks, and the most secure is only the Bitcoin network.

Dynamic | The central bank’s official Weibo reposts the old article “Re-popularization”: Fan Yifei’s detailed explanation of digital currency: According to China Economic Net, today, the headline of the central bank’s official micro-public account republished Fan Yifei, the deputy governor of the central bank, on January 25, 2018 titled " Some Considerations on the Central Bank’s Digital Currency” article, once again popularizing the central bank’s digital currency. At the same time, the second article of the WeChat public account published the speech made by Mu Changchun, the deputy director of the payment department, at the third Yichun Forum of China Finance Forty on August 10. In recent years, the central banks and monetary authorities of major countries and regions have been conducting research on the issuance of central bank digital currencies. The central bank of Singapore and the Swedish central bank have begun relevant experiments, and the People's Bank of China is also organizing active-zce exploration and research. [2019/8/21]

Which USDT to choose? Bitcoin-based USDT is recommended for large transfers, Ethereum-based ERC-20 USDT is a compromise, and Tron-based USDT can be used for small transfers, which is faster.

Beware of asset loss when recharging and withdrawing cash

Bitcoin-based USDT and Ethereum-based USDT are incompatible and cannot be transferred to each other.

So, how do you know which USDT your USDT belongs to?

In fact, it is very simple. It can be judged by the stored USDT address: the address starting with "1" belongs to the USDT based on Bitcoin; the address starting with "0x" belongs to the USDT based on Ethereum. In other words, Bitcoin-based USDT can only be stored on Bitcoin addresses; Ethereum-based USDT can only be stored on Ethereum addresses.

As for the third TRON-based USDT, some trading platforms have already supported it, and the address starts with "T".

Three kinds of USDT address examples

Whether it is transferring money, or recharging or withdrawing cash from the trading platform, it is necessary to pay attention to distinguishing which type of USDT is to be operated.

Summary

There are three types of USDT stablecoins issued by Tether, which are based on Bitcoin, Ethereum and TRON. Based on Bitcoin and USDT based on Ethereum, the two are incompatible and cannot be transferred to each other. You can judge which type of USDT belongs to from the stored address.

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