Is Stellar (XLM) A Perfect Match For ICOs?
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Is Stellar (XLM) A Perfect Match For ICOs?




Since the beginning of the year 2017, ICOs have been rampant on all crypto platforms and have amassed quite a fortune. There’s no denying the fact that almost half of the ICOs launched back in the previous year have crashed and thrown out of the market, but there are also examples set by tech start-ups which have raised almost $1.3 billion through their initial coin offerings. Due to this ICOs have been a frequent victim of several regulatory, financial and technical issues but nonetheless, there has been no stopping of ICOs.

  • Background of Stellar

Stellar works on consensus protocol and promotes the organic growth of the network through the unanimous accepted list of nodes. Birth of Stellar can be dated back to 2014 and since then its goal has been to act as a medium for organizations by which they can extend financial opportunities to communities. It has been a fast-growing organization which has now reached the market capital of $10.1 Billion and its circulating supply is 18.5 Million XLM tokens as of writing this article. One of the company’s founders Jed McCaleb is a well-known cryptocurrency genius who has been built two full-fledged cryptocurrency companies. He was the core person who successfully sealed the deal with ‘Stripe’ that resulted in the formation of his second brainchild after ripple.

  • Role of ICOs in Cryptocurrency Market

Through initial coin offerings, we have observed the gradual growth of different decentralized networks adopting blockchain technology. ICOs are more than just fundraising schemes. It allows network participation and global financial inclusion. Organizations have raised almost $1.8 billion through ICOs since last January.

  • Advantages of ICOs
  1. Initial coin offerings deliver a better approach to open source project development.
  2. ICOs deliver smart network efforts while keeping the costs of fundraising at the minimum.
  3. Once the coin is launched and acquired by users, its demand increases exponentially, which adds to the coin’s value.
  4. Token holders who acquire tokens during pre-sale often get additional tokens as rewards for their investments as a bonus.
  5. By purchasing tokens via its ICO buyers can ensure to obtain a share of profit from the project.
  • Ethereum – The Tradition ICO Platform

In the past, ICO funded projects have always been issued on Ethereum network using the ERC-20 standard. But for the past few years, the Ethereum blockchain has been subjected to transactional backlogs and security breach. This situation has called for an immediate step to break out from the norms and accept a better choice for ICO platform which is ‘stellar’.

  • Reasons for Using Stellar as An ICO Platform

The first ICO that took place on stellar blockchain is Mobius Network, which has raised around $39 Million during the first two hours of its ICO making it one of the largest ICO to be held on Stellar.

Below are some highlights of using stellar as an ideal platform for ICOs.

  1. Built-in decentralized Exchange:

Stellar was formed in order to support efficient trading. Tokens which are created on the stellar platform can be sold immediately on stellar’s decentralized exchange by employing stellar’s native offer mechanism. It reduces the need of relying on any third-party exchanges.

  1. Enhanced Security

The simplicity behind transaction model of stellar compensates for Ethereum’s lack of security concerns. The fact that it doesn’t require turing-complete smart contracts but employs atomic multi-operation transactions that can be audited quickly serves as a shield from security breaches and program vulnerabilities. There are many other additional securities such as node validation of their transaction by organizations.

  1. Creation of Custom ICO

Stellar provides customized ICO creation for those who understand the uniqueness of initial coin offerings by features such as base abstractions that include accounts, offers, payments, and transactions. With the help of these base abstractions, people can structure a unique built-in ICO features with ease. In addition to this, the stellar platform is also suitable for organizations having KYC requirements.

  1. Cheaper and Faster

The major reason behind finding an Ethereum replacement for ICO platforms is because of the increasing costs of computations, transactions, and valuations. With the rise in the value of ether, working on the Ethereum blockchain is getting more expensive. But this isn’t the case with stellar since it does not require ‘GAS’ for the execution of programs and the transaction fee is around .00001 XLM which is negligible. The average transaction time on the stellar platform is approximately 5 seconds making it much faster than Ethereum where it is 3.5 minutes.

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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 Niklas Morberg via Flickr


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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.

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Mission Statement

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