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Place/Date: British Virgin Islands - April 6th, 2021 at 10:00 am UTC · 4 min read
Tether Operations Limited (“Tether”), the company operating the blockchain-enabled platform that powers the largest stablecoin by market capitalization, will launch Tether tokens (USDT) on Polkadot, a scalable multichain network and the first protocol that provides an environment for cross-chain composability of multiple applications and protocols. Before deploying on Polkadot, USDT will deploy on Polkadot’s cousin, the canary network Kusama.
Polkadot, one of the most anticipated protocols to launch since Ethereum, aims to solve the biggest challenges that blockchain-based platforms face today: governance, interoperability and scalability. Kusama launched about a year before the Polkadot mainnet, to serve as a value-bearing testbed for technologies in the Polkadot ecosystem.
How Chainlink will help secure Polkadot’s environment
Polkadot has integrated with Chainlink to incorporate its oracle service into its multi-chain environment. Thus, the different teams building on Polkadot will be able to count on a “flexible and reliable” solution to feed parachains with information.
Chainlink Price Feeds have been enabled as a Substrate Oracle pallet and can be accessed by any other pallet integrated into a parachain. Thus, deployable applications will have “powerful new functionality”. According to a release from Polkadot’s team:
Chainlink Price Feeds will allow smart contract applications across the Polkadot ecosystem to access accurate, up-to-date and tamper-proof price reference data for powering new products and markets