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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.

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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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