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Getting Acquainted With Stellar Lumens (XLM) And Understanding The Driving Forces Behind It

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Stellar Lumens

2017 has been the year that cryptocurrencies have dominated the spotlight with many notable digital coins such as bitcoin, Ethereum, Litecoin and many others. They have surged massively over the past 12 months and proven to be a lucrative way of making money. This has, in turn, led to a hunt for other promising cryptocurrencies and this time we look at Stellar Lumens (XML).

It is currently one of the fastest growing cryptocurrencies in the world with a market cap of $4.9 billion, and it is currently ranked at the 12th position based on market cap. It is also an open –source distributed payments infrastructure as described on its website. To clarify, Stellar is the network or infrastructure while the Lumen is the asset operated on the network. A Lumen thus represents a unit of a digital currency. The system was conceived based on the international community’s need for a worldwide open-source financial network that targets the public domain.

A simpler explanation is that the system will allow people to transfer send cash instantly using the system without having to go through the trouble of conversion. For example, a user in the U.S can send money in XLM to a recipient in Japan and the recipient will withdraw in Japanese Yen. This could be very useful to people traveling abroad because they can use XML as a payment option through which they do not have to convert their money to the currency of the country where they are traveling.

The underlying goals are thus part of the Stellar Lumens team’s plan to come up with solutions that make monetary transactions faster, cheaper and more reliable than what is offered through the current financial systems. The team’s protocol aims to connect people on a global scale so that payments across borders will be more efficient.

As for the Lumen cryptocurrency, it is operated on premises that are similar to those of other digital currencies, thus blockchain technology with all the benefits such as decentralization included. The Stellar network is operated on servers operated by entities and individuals. These servers support the ledgers that document all the transactions as well as the data from the network.

The digital currency attracted a lot of attention on Sunday after it surged by 54 percent within a span of 24 hours. The significant jump also added to previous growth that the altcoin has demonstrated before that. This jump also aligns with the jump in the value of most cryptocurrencies over the past few weeks. The surging prices have most likely gotten the attention of investors looking for opportunities to grow their portfolio. This is because XML is shaping up to be quite promising as far as growth is concerned.

We will be updating our subscribers as soon as we know more. For the latest on XML, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Luke S via Flickr

Altcoins

META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

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Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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