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Recent Developments of Stellar: Mobile Phone Network YOVO

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Stellar
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Stellar Lumens (XLM) is currently ranked 8th according to market cap evaluation, as per coinmarketcap.com. An entrant in the cryptocurrency market in 2014, Stellar Lumens started with the aim of bridging the gap between the financial world and the world of virtual currencies. Along the way, Stellar has achieved a string of partnerships with many giants in tech and finance like IBM, Deloitte, and Stripe.

Stellar Lumens has also partnered with several financial institutions and payment processors in Europe and Asia. Some had argued that Stellar Lumens had started out as a hard fork from the Ripple protocol as both the crypto coins were founded by Jed McCaleb. However, Jed McCaleb had set the issue straight through a Twitter post by highlighting the fact that Stellar is not a hard fork of Ripple.

Stellar looks forward to becoming the digital medium and means by connecting banks, people, and payment systems, and progresses towards this path rapidly. The system will allow the users to send large as well as small sums to anyone, anywhere in a quick and secure method at prominently low costs.

Stellar Lumens (XLM) does not require any mining and is much faster than Bitcoin. The network can conduct hundreds of transactions per second. The Stellar Consensus Protocol (SCP) ensures that the transactions are performed at a rapid speed in a secured way. It is estimated that in the retail exchange corridor, over 50% of the cross-border payments in the South Pacific region are conducted with the help of Stellar Lumens. IBM along with Stellar are trying to incorporate blockchain technology into the banking infrastructure even in the most isolated islands in the world.

Stellar Lumens with world’s cryptocurrency mobile phone network YOVO

The world’s first cryptocurrency mobile phone network, YOVO has chosen the Stellar network. The interested can buy YO token or earn it and then, spend them over 500 mobile network partners. The users will have access to over 130 countries post-launch. This will enable the users to perform tasks such as checking out new apps and dApps by downloading them. The users can also do shopping, receive a call or text through the virtual SIM, and perform several other micro-tasks. The launch will also make it possible for the users to sign up at a new cryptocurrency exchange and earn more and more virtual currencies.

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The Twitter post of YOVO had announced the launch on 6th June 2018 says, “We’re very excited to share something we’ve been working on. Our universal top-up service YOVO GO lets you pay your phone bill with crypto almost everywhere – with support for over 500 operators worldwide from day one. Launching soon!” The launch took place today (14th June 2018).

At the announcement of the launch, the YOVO team had praised the Stellar Lumens protocol as “the fastest protocol for building financial products that connect people everywhere”. This will most likely turn out to be an exciting business venture where cryptocurrency, especially the Stellar network will make new advances in industry application. It is highly expected that the YOVO launch will worry the large telecommunication players as this innovative approach is sure to grab the attention of the professionals as well as the public. The company has raised an initial €20 million as funds for this venture.

YOVO GO, expected to be released in this month itself that can be used to monitor and pay for various mobile services through the virtual currencies. The objective is to serve the “digital money customers with mobile service from our Malta HQ and be an active part of the broader blockchain community that’s growing daily on blockchain island.”

Price Details

For the past month, the price of XLM ranged from $0.20 USD to $0.36 USD. The market shows its usual volatility and the CoinRail hack had also made a little impact on the price action of Stellar (XLM). The CoinRail hack had affected almost all the major cryptocurrencies. The YOVO launch and Stellar’s participation in it will most likely result in better market performance. At the time of writing, as per the coinmarketcap.com, the price of Stellar Lumens (XLM) shows $0.232 USD (4.04%) approximately. The market cap of Stellar (*XLM) shows nearly $4,333,858,663 USD while the volume (24h) is over $52,881,000 USD. (As of 14th June 2018)

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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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Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Altcoins

Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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Altcoins

The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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