Connect with us

Altcoins

Stellar Will Rise Due To New Acquisition

Published

on

unifox-ad
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

5 Reasons Why BAT is A Good Investment

Published

on

BAT
READ LATER - DOWNLOAD THIS POST AS PDF

In their search for the next great investment opportunity, people often tend to run into Basic Attention Token (BAT). A lot of investors have developed a significant interest in the coin, and are wondering if things are truly as good as they seem.

With so many scams and fake coins out there, as well as bad investments that seem good at first, it is a good idea to be skeptical. However, in the case of BAT, many agree that the coin is an excellent investment that should not be missed or overlooked. So, today, we will discuss why this is, and why you should add BAT to your investment portfolio.

1. The project’s goal

BAT has a goal to solve a problem that all of us are already very familiar with, and that is the issue of online ads. For a lot of people, ads are annoying, often irrelevant, and they tend to pop up in all the wrong moments. No to mention that they are intrusive, advertisers steal or buy your private data in order to process it and target you with more appropriate ads, and more.

Most people choose to deal with this by installing ad block extensions. However, what if there is a better way to go around it?

This is where BAT comes in. The project uses its technology to solve this problem by blocking ads unless users decide to interact with them by…

Continue Reading

Altcoins

How and when Electroneum (ETN) mass adoption will catch fire

Published

on

Electroneum
READ LATER - DOWNLOAD THIS POST AS PDF

Before we talk about how Electroneum is thriving towards mass adoption, let’s take on some basics. What is the meaning of “mass adoption” and what cryptocurrencies could really achieve it? The answer to these two questions will ultimately determine the destiny of the cryptoverse.

Sooner or later some tokens will become useful (and used by) a lot of people in the real world. That will create demand for those tokens and that demand will bring its value up. It will be the point at which the crypto market becomes mature, one that answers to real economic forces (such as supply and demand) instead of being a toy for speculators as it still is today.

So let’s start at the beginning. Mass adoption means that, given any kind of technology, product or commodity, at least seven out of ten people know what it and what they can do with it. This definition doesn’t take into account if they actually use it, only if they know about it. Think about Facebook, for instance. Not everybody you know has an active account there.

But chances are almost everybody you know understands what it is and that they could start using it anytime they wanted (if they’re not using it already) at a rate higher than 70%. Maybe a more explicit example is coffee. The percentage of coffee drinkers in the US is about 83% which is enough to ensure it’s mass-adopted. And everybody…

Continue Reading

Altcoins

Stellar Lumens and XLM: All you need to know

Published

on

Stellar
READ LATER - DOWNLOAD THIS POST AS PDF

Stellar Lumens is a blockchain project that includes the XLM token. It’s meant to connect banks, payments, and people. How? By making money transfers around the world quicker, safer, more efficient, available to people that are usually outside the banking system at a cost so low that it’s almost free.

Millions of people are using Stellar already. It’s considered to be the closest project to Ripple (hence, its main competitor). But Stellar has found more use cases than Ripple so far and a strategic alliance with IBM. Those two things will end up determining Stellar’s success in the long run.

Stellar’s leadership, staff, and the team have raised a few doubts in the past. This project was founded by Jed McCaleb who also founded Ripple and eDonkey. The network’s governance and centralization could improve regarding transparency as well.

That being said, Stellar’s adoption and development have grown exponentially in a short time. It’s become one of the leaders regarding blockchain structure. And it’s been in the crypto verse’s spotlight for several reasons.

With all those successes, Stellar Lumens could do a better job when it comes to decentralized apps. In third-generation blockchain projects, smart contracts and dApps are crucial. This could allow competitors like Tron, Ripple or EOS to gain advantages over Stellar.

But Stellar’s versatility is such that it might disrupt many different markets. As a payment tool, it can affect the virtual (and the real-world)…

Continue Reading
Advertisement

Elite