{"id":482929,"date":"2022-08-10T06:05:24","date_gmt":"2022-08-10T03:05:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tether-also-confirms-its-throwing-weight-behind-the-post-merge-ethereum\/"},"modified":"2022-08-10T06:05:24","modified_gmt":"2022-08-10T03:05:24","slug":"tether-also-confirms-its-throwing-weight-behind-the-post-merge-ethereum","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tether-also-confirms-its-throwing-weight-behind-the-post-merge-ethereum\/","title":{"rendered":"# Tether also confirms its throwing weight behind the post-Merge Ethereum"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2a42b43e0c8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2a42b43e0c8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/tether-also-confirms-its-throwing-weight-behind-the-post-merge-ethereum\/#%E2%80%9D_Tether_also_confirms_its_throwing_weight_behind_the_post-Merge_Ethereum_%E2%80%9C\" >&#8221; Tether also confirms its throwing weight behind the post-Merge Ethereum &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Tether_also_confirms_its_throwing_weight_behind_the_post-Merge_Ethereum_%E2%80%9C\"><\/span>&#8221; Tether also confirms its throwing weight behind the post-Merge Ethereum &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvNjllY2JhYWYtNzU2OC00MTMxLWE0ZjctZWQ1MDBkOWFiZDYwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>Hot on the heels of an official announcement from USD Coin (USDC) issuer Circle Pay, stablecoin giant Tether has now also officially confirmed its support behind Ethereum\u2019s upcoming Merge upgrade and switch to a Proof-of-Stake (PoS) consensus mechanism-based blockchain. <\/p>\n<p>The announcement came on the same day as its stablecoin competitor, who pledged they will only support Ethereum\u2019s highly anticipated upgrade. <\/p>\n<p>In an Aug. 9 statement, Tether <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/tether.to\/en\/usdt-supports-eth-proof-of-stake-transition\/\">labeled<\/a> the Merge one of the \u201cmost significant moments in blockchain history\u201d and outlined that it will work in accordance with Ethereum\u2019s upgrade schedule, which is currently slated to go through on Sept. 19. <\/p>\n<blockquote><p>\u201cTether believes that in order to avoid any disruption to the community, especially when using our tokens in DeFi projects and platforms, it\u2019s important that the transition to POS is not weaponized to cause confusion and harm within the ecosystem.\u201d<\/p><\/blockquote>\n<p>\u201cTether will closely follow the progress and preparations for this event and will support POS Ethereum in line with the official schedule. We believe that a smooth transition is essential for the long term health of the DeFi ecosystem and its platforms, including those using our tokens,\u201d Tether added. <\/p>\n<p>While the official statement only came out today, the stablecoin issuer&#8217;s chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer Paolo Ardoino had already previously indicated in July that they planned to support the post-Merge ETH2.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I meant that we plan to support ETH2.<\/p>\n<p>\u2014 Paolo Ardoino  (@paoloardoino) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/paoloardoino\/status\/1553702442348453894?ref_src=twsrc%5Etfw\">July 31, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>USDT is currently the largest stablecoin in crypto with a total market cap of $66.6 billion, while USDC is relatively close behind at $54.1 billion according to CoinGecko. Both stablecoins have a significant amount of their circulating supply on Ethereum\u2019s current Proof-of-Work blockchain, with <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/etherscan.io\/token\/0xdac17f958d2ee523a2206206994597c13d831ec7\">USDT<\/a> at $32.3 billion and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/etherscan.io\/token\/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48\">USDC<\/a> taking the top spot at $45.1 billion at the time of writing. <\/p>\n<p>Given the size of these stablecoins and their dominance over the stablecoin market, the show of this support in this instance should result in a smooth transition for the Ethereum, USDT and USDC ecosystems, as well as the broader crypto market as a whole.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Institutions flocking to Ethereum for 7 straight weeks as Merge nears: Report<\/em><\/strong><\/p>\n<p>However as Vitalik Buterin recently warned, their power could potentially cause issues in future Ethereum hard forks, as centralized entities such as Tether and Circle could choose to utilize the forked chain of their own preference, rather than what the Ethereum community has proposed. <\/p>\n<p>\u201cI think in the further future, that definitely becomes more of a concern. Basically, the fact that USDC\u2019s decision of which chain to consider as Ethereum could become a significant decider in future contentious hard forks,\u201d he said. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Stablecoin issuers (Circle\/Tether) control fork choice in Ethereum.<\/p>\n<p>What h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ens when the state pressures Circle to support a fork that goes against \u201ceth community <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> contract?\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/dP7ZPFiJ0u\">https:\/\/t.co\/dP7ZPFiJ0u<\/a><\/p>\n<p>\u2014 Brandon Quittem (@Bquittem) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Bquittem\/status\/1555743576675475456?ref_src=twsrc%5Etfw\">August 6, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This week Ethereum will undergo its final Merge trial via the Goerli testnet, and if all goes to plan, there is an <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ShowCrypto\/status\/1557154496676917250\">expectation<\/a> that the Sept.19 Merge date is unlikely to be delayed. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/usdt-issuer-tether-also-confirms-its-throwing-weight-behind-the-post-merge-ethereum-chain\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Tether also confirms its throwing weight behind the post-Merge Ethereum &#8220; Hot on the heels of an official announcement from USD Coin (USDC) issuer Circle Pay, stablecoin giant Tether has now also officially confirmed its support behind Ethereum\u2019s upcoming Merge upgrade and switch to a Proof-of-Stake (PoS) consensus mechanism-based blockchain. The announcement came on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":482930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvNjllY2JhYWYtNzU2OC00MTMxLWE0ZjctZWQ1MDBkOWFiZDYwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74891,74876,75493,103657,117,36041],"class_list":["post-482929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ethereum","tag-proof-of-stake","tag-stablecoin","tag-upgrade","tag-business","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/482929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=482929"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/482929\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/482930"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=482929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=482929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=482929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}