In its statement, Tether made a statement in support of Ethereum’s transition to Proof of Stake (PoS).
About 2 days left until Ethereum’s highly anticipated Merge network upgrade. During this period, many organizations took steps in preparation for Merge.
Tether Supports Ethereum Merge
Tether’s latest statement announced that Ethereum supports PoS transition. Tether, like the majority in the ecosystem, is among the organizations excited about the transition from Proof of Work to Proof of Stake. Although there are organizations like Antpool that do not support PoS, the ecosystem is excited about it.
Although the big change planned in Ethereum’s consensus mechanism will not affect users much, it is very critical for developers and companies serving in this field. In addition, this transition, which will take place for the first time in the history of Blockchain, requires significant support. Although some companies do not support this transition, the majority seem to be on the side of PoS. Finally, the PoS support of stablecoin Tether (USDT) was remarkable. Making a statement on the subject, Tether explained:
“While we do not disclose the possibility of forks linked to the Ethereum Mainnet Merge, the Tether token as an Ethereum asset can only exist in one valid “release”. This means that only the upgraded Ethereum POS chain is also supported, as stated earlier.”
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