Different types of USDT networks
If you’ve ever tried to make a USDT transfer, you have probably seen an option to choose one of the multiple chain types available. This question poses a difficulty for first-time users since they might get confused and not know which chain type to use when depositing or withdrawing.
The confusion is completely understandable as crypto has developed rapidly in recent years, and its use grew to the extent that even some countries have now adopted it as a legal tender! To help you understand how this system works and to make the transactions easier for you, we’ll try to explain the main differences between chain types.
What are the differences?
First, we have to mention that Tether was created in 2014 as a part of the Bitcoin blockchain, and back then it was based on the Omni protocol. The Omni protocol gives the ability to create other tokens and base them on the Bitcoin blockchain. Today, this is the most common token type of USDT.
Since 2014 Tether has migrated from one blockchain to another, and its first move was to the Ethereum network when it became known as the ERC-20, and today it is the second most common type of Tether. After that, back in 2019 some of the Tether has been moved onto the TRON network, where it became known as the TRC-20.
So, what are the main differences between these three types of Tether?
Tether OMNI (USDT) is based on the Bitcoin network. Its address usually begins with a number 1 or 3. Although it is considered to be the safest one, its transfer speed is slow, ranging from 0.6 up to 2 hours.
This one is based on the Ethereum network, and its address starts with ‘0’ and ‘x’. It offers high safety, and a transfer time way faster than OMNI. The transfers take as little as 10 minutes.
TRC-20 is issued by Tether on the TRON network. Its address starts with a capital T, and although the transfer speed ranges from seconds up to a few minutes, its safety is considered moderate.
We hope that this explanation was helpful. Bear in mind that the USDT cannot be simply transferred from one network to the other, since these three networks are not interoperable. Instead, carefully check the address when depositing or withdrawing money, because sending Tether to an incompatible wallet can cause a potentially irreparable issue.