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Recent Developments of Stellar: Mobile Phone Network YOVO

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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.

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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Blogs

3 Things to Avoid if You Want Your ICO to Succeed

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Initial Coin Offerings, or ICO, have become quite popular in 2017, which is something that also continued throughout 2018. In fact, there were hundreds, if not thousands of them so far. However, no matter how many of them were organized, most never managed to make it into the market and achieve their goals.

Analysts claim that there are a lot more failed ICOs than there are successful ones, which has caused a lot of people to simply give up on the idea. However, many are still curious to know what went wrong, and while failed ICOs can be studied for years without discovering absolutely every flaw, some of the bigger ones can be spotted right away.

This is why we will now list top three reasons why so many ICOs failed, and everyone who is thinking about launching one should pay close attention.

1. The lack of demand for the product

According to estimates, around 60% of ICOs often fail at the first stage simply for the lack of interest in what they offer. When someone comes up with an idea and launches an ICO in order to raise money, they are presuming that people will be interested in investing in this idea. In addition, prior to making an announcement that an ICO is coming, it is wise to ensure that the announcement will be heard in the first place.

Additionally, ICOs need to be approved by appropriate…

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Bitcoin

Reasons Behind The New Bitcoin Crash

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Cryptocurrency investors and supporters experienced quite a shock last week with the latest Bitcoin crash. Almost every single one of top 100 cryptocurrencies trading in the red. Not only that, but most of them experienced massive losses, often larger than 12%, or even 15%.

The event was unexpected and all cryptos, with the exception of a handful of stablecoins, lost a large part of their value. However, as always, Bitcoin is the one receiving the most attention, especially since this is the first time that BTC has dropped below $6,000 in a long while. Right now, Bitcoin is still losing value, with its current price being at $5,503.11 per coin, and a drop of 12.76% in the last 24 hours.

After the initial shock, a lot of investors started wondering and researching the new crash. The main question still remains: Why did this happen?

While this is more than understandable, especially considering how much money, time, and patience people have invested in crypto, the reasons behind the new crash remain obscure to many. Because of that, we are now going to explain two events that are most likely to be causing this situation.

1. The selloff

This is believed to be the main reason for the new crash of Bitcoin. The selloff came as a consequence of the last year’s bull run, which has launched BTC and other coins to entirely new heights. Because of that, numerous…

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Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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