The Ethereum-based Tether allows for tokenized USD to be transferred over the Ethereum network. This enables interoperability with Ethereum-based protocols and Decentralised Applications (DApps) whilst allowing users to transact and exchange fiat pegged currencies across the Ethereum Network.
The ERC20 Tether will have much lower network transaction fees and much faster confirmation times (15–30 seconds) compared with Tether on Omni. This will facilitate more efficient exchange arbitrage, and several partner exchanges are already working to integrate the new tokens.
A transaction will be considered a success (or completed) after ten block confirmations. The video shows that this happens in a matter of seconds!
Binance Exchange is the leading global cryptocurrency exchange, with users from over 190 countries and regions. Capable of processing more than 1.4 million orders per second, Binance is the largest crypto exchange by trade volume and one of the fastest in the world. The platform focuses on security, robustness, and execution speed — attracting enthusiasts and professional traders alike.
The BNB coin itself has multiple forms of utility, essentially being the underlying gas that powers the Binance Ecosystem.