Connect with us

Blogs

Stellar’s (XLM) network is a real-world app. Here’s why.

Published

on

Stellar XLM network
READ LATER - DOWNLOAD THIS POST AS PDF

The digital ledger notion, also known as the blockchain, has been adopted at exponential rates over the last few years. It all started with Bitcoin, of course.

But Bitcoin has some limitations (purposeful ones), so other projects have created new blockchain networks that address those limitations and make the same technology more versatile, faster and more available.

Stellar (XLM) is one of those relatively new cryptocurrencies (it was released in 2014) that are changing the game for the crypto world, and they are very successful. Firms like Delloite Co. have adopted Stellar to do their work, and they’ve gained efficiency in their businesses in both time and bottom line.

Stellar (XLM) was conceived as a currency to make transactions quick, reliable and easy. But it’s built in a way that every purchase enhances the network’s security as well. You need a minimum 0.5 tokens in your account’s balance to be active in the network, that ensures that every active member is contributing. It also charges a small fee for every transaction which makes DoS attacks either impossible or just too expensive.

When you transact internationally, the risks inherent to foreign currency exchanges play a role and make things more expensive. Stellar (XLM) was designed precisely to reduce those risks thus reducing costs. 

It’s a bridge between currencies that would otherwise be very difficult to exchange due to low international demand. XLM solves this problem as long as there is enough liquidity between each currency in question and XLM.

Stellar is also versatile. Stellar’s apps can be customized so that every customer gets what it needs from them and still gets benefits. This versatility eases the integration for businesses which, in turn, makes adoption more probable. These are some companies that have adopted Stellar just so you get an idea of how useful this network can be.

Parkway project

Mobile transfers are a reality now, and they’re here to stay. But transfers among different providers have been a problem from the start. 

Parkway is solving this problem by using Stellar‘s tech to do transactions that were previously unsupported and keeping costs down for everybody. It now offers transfers between the country’s five major players, and it’s still cheap.

Delloite

Delloite adopted Stellar so that it could manage retail payments (smaller ones) and it’s worked for them. Every transaction takes five seconds or less to be validated, and transaction costs have gone down by 40%. Adopting stellar and customizing it to meet every client’s requirements is relatively straightforward. 

Making Stellar fit into the Delloite ecosystem took only a month’s time (if you have any experience in software development, you’ll know that’s nothing short of a miracle). 

In Deloitte’s industry, this rather straightforward and short effort has reported meaningful increases in profitability, efficiency and potential customer base. It’s made them more competitive in an industry where competition is fierce.

Tempo Money

Transactions across borders have a reputation for being both expensive and slow, which limits their appeal. Tempo’s specialty has been to make remittances available from Europe to the rest of the world. 

Fees went from 4 to 150 euros, depending on the amount. Stellar has reduced those costs a lot. Now they can do 600,000 transfers at the cost of one single USD cent. 

That expands their market significantly. But besides international transfers, this works for payments for health insurance and utility bills at the local level, so it makes things better for clients and Tempo Money at the same time.

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.

Chart courtesy of Beboy Photographies via Flickr

Blogs

Reasons Why You Are Much Safer When Crypto Trading on Dexes

Published

on

DEXes
READ LATER - DOWNLOAD THIS POST AS PDF

While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

Continue Reading

Blogs

Crypto Billionaire Predicts Massive Price Growth by 2021

Published

on

crypto billionaire
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

Continue Reading

Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

Published

on

TokenRoll
READ LATER - DOWNLOAD THIS POST AS PDF

Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

Continue Reading

Elite