Hive Backed Dollars (HBD) vs Tether (USDT)


This section is a part of Hive Backed Dollars (HBD) crypto guide. In this section we are going to see the unique features of the two blockchains - Hive Backed Dollars (HBD) and Tether (USDT).



This guide is meant to show you unbiased feature set comparison of blockchains in discussion. Below table shows you the comparison points between the two blockchains.

Hive Backed Dollars (HBD) Tether (USDT)
Hive Backed Dollars aka HBD was released as a stablecoin on HIVE blockchain, since March 2020. Tether (USDT) was first released in 2014 as a Realcoin using Omni Platform on the top of the Bitcoin's blockchain and later was released into multiple blockchains like Ethereum, EOS, Tron, Algorand etc.
As per the HBD dollar monitor the Market Supply of HBD is $20,651,557.959 (HBD stays below 10% of HIVE market supply) *[Ref] : 1 Tether (USDT) has circulating supply of 69,043,109,914 USDT coins & no max. supply specified.
HBD is designed by the decentralized group of community members. It is not externally funded or regulated by any government. Tether (USDT) is a centralized stablecoin which has centralized setup & also it has been backed legally by few regions. Due to lack of compliance it has been restricted in many regions.
HBD being HIVE blockchain's stablecoin it makes use of the delegated proof of stake consensus algorithm. Tether (USDT) makes use of Proof of Work & Proof of stake consensus algorithm.
HBD is built on Graphene 2.0 based blockchain which makes use of the C++ as it's native programming language. Tether (USDT) makes use of the blockchain native language on which it is deployed as a stablecoin infrastructure. e.g. Tether on Ethereum would use Solidity while on TRON it may use respective SDK languages.
HBD is traded on Bitrex exchange. Though HIVE is accepted in multiple exchanges, HBD doesn't have much takers as of now. Tether (USDT) has much wider acceptance & is often paired with other cryptos on multiple exchanges.
HBD has HBD stabilizer & means to put the value pegged to the dollar. It's value appears to fluctuate a lot above & below the dollar price (0.95 to 1.5). [Ref]: 2 Tether assured to be pegged to the US dollar value. It does not appear to show larger fluctuation below or above the dollar value.
HBD & HIVE are goverened by the community of members known as a witness. Tether is privately managed, governed and externally audited for the govt regulation and compliance.
HBD is being accepted in various dApps, games and NFT shops built around HIVE blockchain. Tether is being accepted in various payment gateways of dApps, games & NFTs that accept the USD-Tether based off Ethereum & TRON blockchain.
HBD currently allows savings rate of 10% in the HIVE account. Tether does not have any such system. Except external financial systems like Celsius, NEXO etc seems to offer similar services.

Reference :

  1. Find out about HBD market supply here.
  2. Read about the HBD stabilizer here

If you're interested, you can also check out the other stablecoins like Pax Dollar and TrueUSD.

Hive Backed Dollars (HBD) OR Tether (USDT)?

Tether seems to have managed to release it's stablecoin on multiple cryptocurrency blockchain (Eth, Tron, EOS, Algorand & more) which makes it's trading and acceptance lot easier. Tether being widely accepted as a stablecoin on various excahnges and is paired with many other cryptos.

Hive backed dollar at it's current state is limited to it's involvement on HIVE blockchain. This pretty much leans the complete comparison one-sided in favor of Tether as the amount of users on and off exchanges make use of Tether as a stablecoin over HBD.


At it's current state limited exposure of the Hive backed dollar in the external market & use cases makes it not so visible in the eyes of the regulators. However this also makes other stablecoins like Pax Dollar, Tether, USDC etc much more usable in the space of the stablecoins.

Posted Using LeoFinance Beta