Connect with us

Blogs

Is it worth HODLing Stellar Lumen (XLM) or not?

Published

on

Stellar XLM

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.

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.

Transaction Costs

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.

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 Pxhere.com

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

on

Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…

Continue Reading

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

Published

on

2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

Continue Reading

Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

on

Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has…

Continue Reading

Trending