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New Hope for Stellar Lumens (XLM)

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Stellar Lumens
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So far, 2018 has been a strange year for cryptocurrencies. Whenever they made some progress, interestingly enough, a new hardship followed. Still, a lot of them managed to bounce back whenever things got complicated, and Stellar Lumens (XLM) is definitely one of them. In fact, a lot of experts believe that this crypto has a lot of potentials to bloom by the end of the year, so let’s see why.

Stellar Lumens (XLM)

Stellar is a crypto that has been around for a while when considering crypto-age. It was launched back in 2014, and it uses an entire network of decentralized servers for maintaining its operations.

Stellar is a crypto that has always been ‘around’, but never received that much attention, until this year, when he climbed to the rank of 7th according to CoinMarketCap. Just like all the other cryptos, its price suffered a great loss at the beginning of the year, and it currently sits at $0.193173.

Despite this, Stellar continued to fight the good fight, and the crypto continues on its way to the ultimate goal – the replacement of traditional money with cryptos. In return, it offers speed, scalability, extremely low fees, and has a very solid framework.

A lot of others have noticed its potential as well, one of the biggest names among them being the KIN Foundation. KIN seems to have been very impressed with Stellar’s scalability solutions, considering that they announced a hard fork on Stellar’s very own blockchain. This will help solve a lot of company’s problems, and would even expose Stellar even more in the process. Cryptos are never the ones to say no to building a reputation, so this will be a good deal for XLM.

Stellar Partnerships

KIN is not the only one interested in Stellar, and one of its largest, if not THE largest partnerships include IBM (International Business Machines). And, while this partnership is not exactly new, it is very beneficial, especially after the announcement came that both parties will team up with Veridium Labs. This team-up was proposed so that the carbon credits can be introduced. This will represent the first token for IBM, and it will be on a public network. That being said, it will still not be available for public use.

Additionally, Stellar is also a crypto chosen by BloomX, and the plan that BloomX came up with includes providing an online platform for Money Services Businesses. The reason why they have chosen to work with XLM on this is that it is simple to use, extremely scalable, cheap, and very fast. So, following the integration, XLM will actually be the one who will process all of the transactions coming in and out of BloomX. Not bad for a crypto, especially the one that wasn’t under the microscope like some of the bigger ones out there were.

What will happen to XLM price?

Considering the ups and downs of the market this year, which were more often and stronger than ever before, it is relatively difficult to determine which crypto will come up on top, and which ones will disappear. Even so, Stellar is not going anywhere anytime soon. This is the coin that has actually managed to endure the market’s sudden mood shifts quite well, and many believe that the new progress will allow it to climb up to $1 per coin by the end of the year.

Additionally, there is always a chance that cryptos will advance in their fight to conquer even faster, and that the most countries will start turning towards them sooner, rather than later. This might help increase XLM’s price even further.

The fact that Stellar’s price is currently low is something that should be taken advantage of, especially considering that a lot of experts truly believe that it has a potential to reach $3 soon enough. It is true that you can never know what will happen when it comes to cryptos, but if Stellar’s new partnerships and stability that it has demonstrated can indicate anything, it is that this digital currency is strong and capable of enduring even the harshest of times.

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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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Blogs

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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Blogs

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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