Beyond Transactions: How Stellar (XLM) is Turning Things Around
Stellar (XLM) – The cryptocurrency world is becoming exciting, with new inventions flooding the once upon a time nonexistent space. It leaves no wonder, but to think of separating the wheat from the chaff, and understanding the potential of every cryptocurrency mentioned in reliable analysis.
In 2017, several analysis weighed in on Bitcoin and placed it atop. This is not born of the fact that it is peddled on lies, it is beyond mere rhetoric, but that the crypto world witnessed a significant development and breakthrough from Bitcoin. While observing the events in the cryptospace, it is worth talking about Stellar, for the singular reason that it poses to stand beyond altcoins.
Late 2017 and early 2018 witnessed a significant increment in the price of Lumen (XLM), the official Stellar coin. Going by market capitalization, observers say Stellar has the potential to be the hottest digital coin of 2018 because it had over 65 percent increment towards the end of 2017, and was among the top 10 largest cryptocurrencies by market capitalization. Now, it sits at the 8th position in the cryptocurrency market.
Going by the above, it would be a significant advantage exploring some salient facts about Stellar, and drawing inferences from its prospects.
Stellar, Bitcoin, and Ripple: any links?
Why pitching one cryptocurrency against another is the order of the day in the cryptoworld, it is worth noting that there are broad similarities and differences between Stellar (XLM), Ripple (XRP), and even Bitcoin. The blockchain technology behind Bitcoin is the same one that Stellar operates on. However, Stellar is advanced in speed and resolves transactions within few seconds, a character peculiar to it alone.
In another end, Stellar gives users an edge to exchange Lumens with government-supported tenders. What this is saying is that it is possible for you to send fund to your friends in any sphere in a twinkle of an eye, and at the same time, they will receive it without any delay. Interestingly, it is possible they exchange it for any currency.
It is also typical that people try to pitch Ripple against Stellar. However, the latter is posing to be more advanced in action than the formal. While Ripple and Stellar major in payment, they also have the same co-founder, Jed McCaleb.
To create Stellar, genius Jed McCaleb, who doubles as the creator of Mt.Gox bitcoin exchange and eDonkey2000 (a notable file sharing platform in its time), abandoned Ripple in 2013 and dedicated his precious time to create an excellent platform whose functions could be rated as a classic platform, not for profit, for humanity sake. Before then, information has it that he sold Mt.Gox in 2011, and the idea was affected by massive hack shortly after the sale.
Cross-Border Transaction at its best
Any cryptocurrency platform could flaunt mouthwatering potentials that are nothing but unfounded attributes, nonetheless, the discussed functions of Stellar make it stand beyond being called giant. Stellar is efficiently helping people around the globe achieve cross-border transactions at a very high pace and in an almost free manner. That is, it costs a meagre amount, as against other crypto platforms.
This service alone has the possibility of increasing the usage of Stellar. To better achieve cross-border transaction, Stellar is collaborating with IBM and KickEx to design a cross-border transaction using the latest blockchain technology protocol. The idea is expected to reduce charges, and also increase the pace of deal.
When perfected, there is going to be reduced error and the efficiency of any transaction performed would be higher than that of the competing platforms.
Beyond IBM and KickEx, to make across border dealing efficient, Stellar has increased its tentacles, having 6 partners in Africa, 8 in Asia-Pacific, 3 in Europe, 5 in the Persian Gulf, and 4 in America.
Stella Is Becoming Respected in ICOs
Stellar has designed a reliable platform for startups to sell their ICO. Mobius raised $30,000,000 in ICO on the Stellar platform, and the team behind sales says they are satisfied with Stellar.
“we think we’ve uncovered this underutilized, really unknown technology,” Mobius Network co-founder and CEO David Gobaud revealed.
Are you aware of the Stellar 2018 Roadmap?
Stellar is planning to be 2018 most sought-after platform, its roadmap is practically unbeatable going by what is known in the cryptocurrency world, and if the platform’s revelations are not based on ‘it is easier said than done’ aphorism.
Stellar has announced that this year, it will work on SDEX. According to the team, SDEX “will enable on-chain, protocol-level trades for any Stellar token, and we will create liquidity to minimize spreads and maximize choice of assets.” Enough revelations have not been made as regards SDEX. As part of the roadmap, Stellar hopes to make its platform more flexible and friendly to accommodate more ideas.
It won’t be hard for Stellar to sustain its growing development if it continues to be solution-driven than its equals. Stellar has great potential, expect more of it this year.
Jed McCaleb is the CTO of Steller, which is an open-source, protocol for digital currency to fiat money. Prior to co-founding Steller, McCaleb was also the founder of Mt.Gox exchange as well as serving as the CTO to Ripple and is also known for creating Magic: The Gathering Online Exchange, and the peer-to-peer eDonkey and Overnet networks.