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Golden Outpost | ERC20-USDT has never been destroyed, but the active-ethexc volume is only 2 billion US dollars



Golden Finance News, recently, Flipside Crypto analyzed the active-ethexc supply of USDT on the Ethereum blockchain, Flipside found: 

1. Most USDT is used for speculative arbitrage on centralized exchanges, most of which happen between Huobi, Binance and Bitfinex.  2. Most of the USDT on the Ethereum blockchain is inactive, and only about $2 billion is considered active.  3. Flipside Crypto also explained the process of USDT from issuance to final use, first minting new USDT, then sending it to Bitfinex, and finally transferring it to other exchanges. In addition, despite the continuous issuance, the Ethereum-based USDT has never been destroyed.   

Jinse Finance mining data broadcast: BSV’s network computing power dropped by 13.02% today: Jinse Finance reported that according to the data from the spider mining pool:

The computing power of the BTC network is 151.323EH/s, the mining difficulty is 18.60T, the current block height is 665059, and the theoretical income is 0.00000755/T/day.

The computing power of the entire ETH network is 307.766TH/s, the mining difficulty is 3842.62T, the current block height is 11611116, and the theoretical income is 0.00782103/100MH/day.

The BSV network computing power is 0.548EH/s, the mining difficulty is 0.07T, the current block height is 669023, and the theoretical income is 0.00164308/T/day.

The computing power of the BCH network is 1.313EH/s, the mining difficulty is 0.20, the current block height is 669290, and the theoretical income is 0.00068537/T/day. [2021/1/8 16:42:35]

Golden Relativity丨Lin Han: Ethereum 2.0 improves the scalability of the network through the "beacon chain + multi-shard chain" model: In today's Golden Theory of Relativity, what are the main improvements of Ethereum 2.0 compared to Ethereum 1.0? ", Lin Han, Operations Director of OKEx Mining Pool, pointed out: The biggest difference between Ethereum 2.0 and the existing Ethereum network is that the PoS mechanism is used instead of the PoW mechanism to reach a consensus on the order of transactions. A significant difference between PoS and PoW is that in the network of the PoW mechanism, the computing power determines the right to speak; while in the network of the PoS mechanism, the amount and time of holding coins determine the right to speak. The goal of Ethereum 2.0 is to improve the scalability, security and programmability of Ethereum. Through the "beacon chain + multi-shard chain" model, each shard chain is a separate chain, and many shard chains are unified by the beacon chain, which will effectively improve the scalability of the entire network. Therefore, one of the most important reasons why Ethereum 2.0 switched to the PoS mechanism is actually due to the consideration of its own performance optimization. Of course, compared to the PoW mechanism, Ethereum, which is converted to the PoS mechanism, will also lower the participation threshold, allowing more ordinary users to participate in the governance of the entire blockchain network. [2020/6/17]

According to the data on Tether’s official website, the current total assets of USDT have reached 9.2 billion U.S. dollars, the authorized amount on Ethereum has reached 5.738 billion U.S. dollars, and the authorized unissued amount is 126 million U.S. dollars. Compared with the Omni and Tron blockchains, the USDT issued based on ERC20 has not yet been destroyed.

Jinse Finance Live Report MakerDao Wang Qijun: Blockchain has no ceiling and gender issues: Jinse Finance reported live on June 3, at today’s Ethereum Technology and Application Conference "Exploration-Ethereum and Industry Ecology" roundtable discussion, MakerDao Wang Qijun said , blockchain enhances people’s sense of community. It is a flat structure, everyone is a soldier in the team, benefit from the team and face risks, and get tokens. You want people who contribute more as leaders because they take more risks. There are no ceilings or gender issues here, as long as you contribute, as long as you strive to make this project better, you do better yourself and continue to collaborate with others. There are a lot of people who work very hard to get involved in different projects, or organize different events, or fund these projects, so I really like this sense of community. [2018/6/3]

In this regard, Paolo Ardoino, Chief Technology Officer of Bitfinex, said that Tether has not yet destroyed the USDT based on Ethereum, because Ethereum has always been the most popular blockchain, and the demand for USDT based on ERC20 has always been high. Therefore, when processing redemptions, Tether holds these USDT in authorized but unissued inventory to meet future market demand.


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