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Here Is Why Stellar XLM Is the Silent Ethereum Killer

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Stellar XLM
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Ethereum (ETH) has literally taken a beating in the crypto-markets. We had all hoped that the King of Smart contracts would survive above $300 and were crossing our fingers that it would not see anything less. But what happened, is that ETH touched its lowest value of the year just yesterday on August 13th. This value was $259. The last time ETH was at this level, was actually almost a year ago on the 7th of August 2017.

Looking at the charts at coinmarketcap.com, we see that Stellar XLM has just made an entry into the top 5 coins by edging out EOS. The fact of the matter remains that XLM has declined less due to a weak BTC, than any of the other top 10 coins.

XLM edges out EOS on coinmarketcap.com

The reasons why Stellar XLM is on a path to greatness is the continual developments that continue to be supporting the project. We have the recent news of Coinbase planning on adding XLM together with the digital assets of ADA, BAT, ZRX, and ZEC. This has boosted the visibility of XLM that has up until now, been a coin not many considered as being stable enough to be an investment option. XLM might be a safer bet than ETH henceforth.

There is also the IBM partnership that Stellar XLM has that has resulted in IBM running 9 Stellar nodes to settle cross-border transactions for IBMs partners that include global Central Banks. There is also the tokenization of Carbon Credits that will be done on the Stellar blockchain as well as a Stable coin that will be pegged to the USD. Both these projects have IBM at the center of it all. There is also the contract IBM got to develop blockchain solutions for the Government of Australia that puts Stellar at a great spot for adoption into those solutions.

So how is Stellar (XLM) becoming the slow Ethereum (ETH) killer outside the markets?

Last year saw the boom of ICOs in the crypto-verse that accepted ETH as a source of funding. This then led to the demand of the digital asset and in return, it skyrocketed. Most of these projects built their projects on the ETH platform. Since then, the ETH network has proven to be congested and having security vulnerabilities leading more recent projects to look to other blockchain platforms to create their projects on.

Stellar has been stacking up on these projects without much buzz being made about it. They include the following projects:

  1. Veridium
  2. IBM’s stable coin
  3. Stellarport Decentralised Exchange
  4. Stronghold
  5. Tempo
  6. Satoshi Pay
  7. Open Garden
  8. TillBilly
  9. Slice
  10. SureRemit
  11. Smartlands
  12. Chynge
  13. Ternio
  14. Mobius
  15. REM Loyalty

These projects have chosen the Stellar XLM blockchain smart contracts due to the following reasons:

  • Multi-signatures – concept requiring signatures of multiple parties to sign transactions stemming from an account
  • Batching – the concept of including multiple operations in one transaction
  • Atomicity –  the guarantee that given a series of operations, upon submission to the network if one operation fails, all operation in the transaction fails
  • Sequence – Utilizing sequence numbers in transaction manipulation
  • Time-bound functions – limitations on the time period over which a transaction is valid

These additional benefits of the Stellar XLM Blockchain can be summarized by the Co-founder and CEO of Mobius, David Gobaud who explained why they chose Stellar over ETH:

“We realized there was no way that ethereum could handle our technology. It was too slow, too expensive and too insecure. … We see all these other projects with these immense problems. We think we’ve uncovered this underutilized, really unknown technology [of Stellar].”

Summing it up, Stellar has proven to be a more stable cryptocurrency than Ethereum during periods of market decline. This has then led to the further realization that more and more blockchain projects are choosing Stellar over Ethereum for the development of there projects and tokens due to the benefits outlined above. We can then conclude that XLM is indeed a slow Ethereum killer.

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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.

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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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gambling dApps
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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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