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.
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.
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).
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.
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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.
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
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