Connect with us

Altcoins

Stellar Will Rise Due To New Acquisition

Published

on

Stellar will
READ LATER - DOWNLOAD THIS POST AS PDF

Stellar will continue to be in the headlines for all the right reasons after its new acquisition Chain, which is backed by Visa. It all started with news that Stellar will be used by IBM in a cross-border payments solution that will rival that of Ripple. The clearing and settlement of payments with finality will be possible through almost instant speed. The solution does not directly state that it will use XLM as the instant source of liquidity, but the guess is that this is how it is going to happen.

Stellar Foundation Acquires Chain which is Backed by VISA

The above news was only one week ago and now the Stellar foundation – through its Stellar Development Fund – has purchased Chain. The latter is a blockchain startup that is backed by some of the biggest names in finance and enterprise adoption. Chain’s existing investors include VISA, Nasdaq and Citi Ventures.

The new firm created from the acquisition is known as Interstellar. Its CEO, Adam Ludwin, had this to say about the new venture:

“All of the clients that we have now have effectively shifted from using a traditional database model to using a tokens model, issuing assets on a local environment. By partnering with Stellar you can fire an asset to another institution.”

The Stellar Development Fund is the profit-oriented arm of the Stellar foundation and is also known as Lightyear. This means the Chain and Lightyear names/brands will be dissolved as a result of the deal. Interstellar, being the new venture, will employ 60 people with two headquarters in San Francisco and New York City.

Ludwin hinted that the acquisition was in the tune of $40 Million. He added the following:

“Chain did not need to sell the company. This needed to be a great strategic move and a great return and it was both.”

Jed McCaleb, the founder of both Ripple and Stellar, will take over as the CTO (Chief Technical Officer) of the new Interstellar firm. Chain’s existing customers using its core software (Visa, Nasdaq, Citigroup, Cloudwalk and LPS) will now be served by Interstellar.

Stellar will rise

The last few weeks have really been great for the XLM cryptocurrency due to the aforementioned news. If all the developments were made during a Bull run, the price of XLM would not find it hard to get to the much needed $1 value. Looking at the markets right now, XLM is currently valued at $0.19 and down less than a percentage point in the least 24 hours.

Going further and comparing the digital asset with XRP, it seems that the latter has stagnated in the markets due to the general FUD that it is a security. The Ripple company has even gone ahead and issued numerous statements that Ripple and XRP are completely separate entities. They also add that the XRP ledger is open source and Ripple simply brought it to real-life problem-solving situations via its products of xRapid, xVia, xCurrent and RippleNet.

However, investors who still do not believe that XRP is truly decentralized, now have an option in XLM. The latter now has a use case through its cross-border payments solution with IBM. Also, with the new firm of Interstellar, the Moon is no longer the limit for XLM. The new limit is the outer reaches of our galaxy as the name Interstellar suggests.

For the latest cryptocurrency news, join our Telegram!

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.

Image courtesy of Pexels

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

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

Published

on

SonicX
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Elite