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Is Stellar (XLM) A Perfect Match For ICOs?

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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.

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

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

Altcoins

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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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

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.

Mission Statement

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, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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