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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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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