Stellar Lumens is a blockchain project that includes the XLM token. It’s meant to connect banks, payments, and people. How? By making money transfers around the world quicker, safer, more efficient, available to people that are usually outside the banking system at a cost so low that it’s almost free.
Millions of people are using Stellar already. It’s considered to be the closest project to Ripple (hence, its main competitor). But Stellar has found more use cases than Ripple so far and a strategic alliance with IBM. Those two things will end up determining Stellar’s success in the long run.
Stellar’s leadership, staff, and the team have raised a few doubts in the past. This project was founded by Jed McCaleb who also founded Ripple and eDonkey. The network’s governance and centralization could improve regarding transparency as well.
That being said, Stellar’s adoption and development have grown exponentially in a short time. It’s become one of the leaders regarding blockchain structure. And it’s been in the crypto verse’s spotlight for several reasons.
With all those successes, Stellar Lumens could do a better job when it comes to decentralized apps. In third-generation blockchain projects, smart contracts and dApps are crucial. This could allow competitors like Tron, Ripple or EOS to gain advantages over Stellar.
But Stellar’s versatility is such that it might disrupt many different markets. As a payment tool, it can affect the virtual (and the real-world) global remittance services, which will grow by $8.5 billion in the next seven years.
The same goes for the ‘contactless’ payment sector which will grow by 801.4 billion USD in the same period. 60 percent of the people in the world are estimated to hold a bank account, and that is a lot of people.
And then there’s the rest: those who don’t have a bank account, but that still need some kind of financial service. This is a massive market that Stellar is penetrating by partnering up with important remittances providers such as Coins.ph and Tempo.
Stellar also has a decentralize exchange platform, so it’s a competitor as a trader as well.
One thing to keep in mind about Stellar Lumens is this: when IBM got interested in the blockchain, it chose Stellar Lumens as its technology of choice, just in the same way that it chose Microsoft as its primary software provider decades ago.
That combination created the most significant fortune in the world. This partnership alone could be definitive because IBM is already doing business with 90% of the world’s banks.
Keep an eye out for Stellar but remember that you should not take us as financial advisors and that, if you decide to play the game, you should do your ‘very own’ research and never invest money that you can’t afford to lose. But yeah again, XLM an altcoin worth keeping a close eye on, and is underrated currently.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of StartupStockPhotos/PixaBay
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Can Libra help the crypto industry to reach new heights?
The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.
From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.
What is Libra?
Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.
Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.
The development of…
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