Several factors determine the value and worth of any cryptocurrency, whether they are a viable investment opportunity or worth disposing of. Specific criteria need to be examined to determine the present strength and future potential of virtual currencies, which includes speed, transaction tariffs, scalability, value, technology, and development and leadership team.
This article will try to look at the Stellar Lumen’s (XLM) characteristics and whether it is a good digital currency worth holding or selling.
The 101: What is Stellar (XLM)?
XLM is a decentralized platform that was founded by Ripple co-founder, Jeb McCaleb, that facilitates the exchange of assets efficiently and easily. The platform is a blockchain based technology that allows it to support settlements in a secure yet decentralized way. It is an open-source payment platform that shares numerous comparations with Ripple.
How Does it Work?
Just like many decentralized payment technologies, Stellar runs a network of decentralized servers with the presence of a distributed ledger that is updated after every 5 seconds or so among all nodes.
One of the most prominent factors that distinguish bitcoin and Stellar is its consensus protocol. The Stellar protocol does not depend on the complete miner’s network to approve payments. Rather, it uses the FBA or Federated Byzantine Agreement algorithm, which facilitates faster processing of payments. In other words, what Stellar does is use a portion of their platform to approve and authenticate a payment.
Stellar’s Development Team and Leadership
Stellar Lumen is fortunate enough to have a respectable icon in the cryptocurrency ecosystem as its founder and leader, Jeb McCaleb and a great team working behind the vision and mission laid out by the top management.
What product are you really excited about in the Crypto space? Mine right now, beside Bitcoin, of course, is @StellarLumens. I believe @JedMcCaleb is doing an amazing job with this project and the partnership with @IBM and funding from @stripe are key to its success. $XLM
— Paul McNeal #BTC20K 🔥🏳️🌈 (@TesModS) June 2, 2018
In the world of internet technology, Jeb is a highly respected and experienced icon who has initiated many other projects other than Stellar. He first started with peer-to-peer music sharing systems called eDonkey. After this, Jeb developed MT. Gox, one of the very first Bitcoin exchanges, which hosted more than 60% of all Bitcoin transactions at one point. He later went ahead to sell MT.Gox then co-founded Ripple. This is to show you that the person leasing Stellar is a true master of his craft.
Thanks to Stellar’s elaborate and efficient consensus protocol, up to one thousand transactions can be safely processed per second at a fixed rate of 0.00001 XLM per settlement.
Stellar’s (XLM) Market Performance
The 7th ranked digital coin in the crypto market on the first impression doesn’t look like it has much to offer. For some time now, XLM has been exchanging under its record price. However, there is more to it than what meets the eyes.
XLM happens to be one of the top 15 best improved digital coins of the year, gaining its value by about 2600%. And of course, its partnerships with top firms like IBM and ICICI (India’s biggest bank) are a proof that XLM is bound to grow.
At the time of writing, XLM is exchanging at the value of $0.23 per coin with a market capitalization of more than 4.4 billion dollars. The currency follows the current bearish trend of the market too, but that does not mean it’s not worth HODLing.
The team and leadership, low transaction costs, the value it provides to the real world, and top-notch partnerships the currency has managed to get in its pocket, make it a good coin to HODL. Stellar (XLM) easily takes the title of the best-improved coin with 2600% of gains that was realized over a period adding its approval rating as a good candidate for HODL.
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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 and read our full disclaimer.
Image courtesy of Pxhere.com
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.
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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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