Looks like Tether has a potential new rival in town! [Corion]

So basically Tether (USDT) is a cryptocurrency asset backed by the US dollar. Each tether unit is backed by a USD dollar held in the reserves of the Tether company , it acts like any crypto where you can store it, spend it or transfer it.

The advantages of such cryptocurrencies is their stability unlike the traditional nature of cryptos which makes them highly volatile. Tether sticks around 1$ [ varies around +0.01$ / - 0.01$]

Tether as a concept is really not bad at all, there many usabilities in having a stable to US crypto.

However there have been some complaints around the community due to the below points:

• No active community / news updates /Only phone and and omnilayer wallet available / very slow verification process / and even a conspiracy theory ? There was an excellent article written that explains the strange story behind tether [source]

CORION aims to deliver a similar concept, still in ICO and is expected to be released by tomorrow.

Let us hope that it succeeds where Tether has failed to! I believe that competition is always healthy because it will force both platforms to flex their muscles, the bigger flex always gets the biggest share XD