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Why Stellar Lumens Could Become the Next Crypto Giant

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The cryptocurrency market is becoming increasingly more competitive every day with the addition of new cryptocurrencies. At the moment, there are nearly eighteen hundred digital coins vying with each other for a decent market cap. Besides, new ICOs (Initial Coin Offerings) are getting legitimized as new cryptocurrencies every month. Under such circumstances, every digital coin needs to offer some sui generis features to earn a decent value as well as market capitalization.

Stellar Lumens (XLM) is an open-source protocol designed by the creator of eDonkey Jed McCaleb and Joyce Kim, which came into the market in 2014. The sole purpose of XLM was to provide an efficient protocol for exchanging money and it has now become a standout feature of this cryptocurrency.

By the end of 2017, the price of this coin exhibited a significant upsurge amongst the general turmoil created by drastic falls in price, scams and hacking incidents. Statistically speaking, XLM had an upsurge of 65% in its price in the previous year that put this cryptocurrency on the list of top ten digital coins. Currently, Stellar holds the eighth position on Coimarketcap. Here, you would find a few aspects of this coin that could help you comprehend why Stellar might become a cryptocurrency giant in future.

The Ingenious Design of XLM:

Stellar was designed as an open-source protocol for quick transactions. The entire design of this coin takes part in this transaction process actively. The internal architecture of Stellar includes several servers that are capable of running a software implementation of the protocol while connecting with other XLM servers via the internet. This allows the protocol to generate a value exchange network that is accessible to all traders spread across the world.

In this network, the record of every individual account is held by the servers on a database known as the “ledger”. A transaction takes place through this network when all of the servers come to an agreement to move a certain amount to a definite address from the ledger. This mutual agreement is known as a “consensus”. Each consensus takes 2 to 4 seconds on an average and happens at regular intervals while keeping each server’s copy of the ledger in sync.

The Unique Cross-Border Transaction:

Because of the efficient global network provided by XLM, a cross-border transaction has come within the grasp of every cryptocurrency traders. The Stellar protocol allows the traders to exchange money from one country to another for a very low cost and in a lightning-fast speed. The quality of this service is one of the main reasons behind its increasing popularity.

Lucrative Partnerships with Mainstream Companies:

Although according to many crypto-connoisseurs, the transaction service is enough for Stellar Lumens to achieve a commendable position on Coinmarketcap, this coin has strengthened its position by partnering with several reputed mainstream companies like IBM and KickEx. These two companies have major contributions to XLM’s cross-border transaction facility using blockchain technology. Besides them, Stellar initiated collaborative partnerships with 37 companies last year including 6 partners in Africa, 3 in Europe, 8 in Asia-Pacific, 5 in the Persian Gulf, and 4 in North America. Among these 37 partners, the endorsement from the renowned internet service provider Stripe is worth mentioning.

Launching of Stellarport:

Stellarport is a cryptocurrency exchange that was designed by the creators of Stellar Lumens. The unique feature that makes this cryptocurrency exchange different from the others is that it makes the trading possible for cryptocurrencies immediately tokenized from ICOs. This feature is allowing several traders to make a significant amount of profit through speculation and trading across several platforms.

Figure 2: Stellarport Symbol

Listing on eToro Trading Platform:

eToro is predominantly a platform for commodities and securities. Very recently, with the gradual acceptance of several Altcoins by financial and governmental organizations around the world, eToro has listed six Altcoins including Stellar Lumens.

Getting listed on a trading platform that possesses a community of 6 million traders, XLM is likely to receive even more exposure resulting in more circulation as well as popularity.

Figure 3: eToro Platform

Current Scenario and Future Speculation:

Stellar Lumens is in the eighth position on Coinmarketcap with an overall market capitalization of more than 7 billion USD along with an individual value equivalent to $0.386595 (On 5th March 2018).

https://coinmarketcap.com/currencies/stellar/

Despite the volatile nature of cryptocurrency market, the incidents and points cited above should make a positive impact on Stellar Lumens and if it continues its dream run as the previous year, being a future crypto-giant won’t be impossible for this virtual currency.

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.

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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