Founded in the early years of 2014 by Joyce Kim and Jed McCaleb, Stellar is considered as an open source protocol for exchanging money. Although, it is the offshoot of Ripple, yet there are few philosophical differences. While Ripple focuses on providing solutions to banks, Stellar on the other hand aims to simplify the payment system for people.
Stellar (XLM) has become one of the most well-known topics in the realm of cryptocurrency because of its connection with one of the tech giants IBM. According to the latest updates IBM is providing 9 key validators for Stellar’s network. IBM also mentioned Stellar (XLM) as one of the most explored spaces in the blockchain.
Right now, there is a craze for tokenized assets are a result of the surge in interest for Stellar. However, in spite of the current bearish trend in the market people are still showing a keen interest in investing in digitalized assets.
What Causes The Rise of Stellar(XLM) to $1.09
According to the current updates IBM has been planning to meet with the executives from large corporations, commodity trading platforms and global central banks for finding ways of saving money by using cryptocurrency and the blockchain technology. Stellar’s partnership with IBM, has already announced in last October. The partnership further, strengthens the use of Stellar, as the cross-border payments by making the digital connection of the fiat currencies on both ends of the transaction. Stellar now replaces Swift, by building a strong bridge.
Several, central banks consider issuing their own digital cryptocurrency and many of these banks use IBM products and services in their backend. Thus it is, natural to assume that the new crypto by these central banks will use the Stellar blockchain. This blockchain is capable of issuing their own tokens and smart contracts that are less malleable than the Ethereum smart contracts but it also has some certain qualities that the Central Banks would like to add in their control of transactions.
Stellar smart contracts are revealed as compositions of the transaction that are generally implemented and linked using several constrictions that are executed by the coder. These constraints comprise of multisignature, sequence, batching/atomicity, sequence and time bounds. These constraints will be absolutely perfect for the cryptocurrencies issued by the central bank.
According to the price analysis by the cryptocurrency market expert, although the market is still bearish yet, Stellar is trying to bounce off the downward trend line. Thus, the implementation of the stellar platform keeps on growing with IBM and its association with 20 global Central Banks. IBM is, in fact, running 9 Stellar nodes in order to confirm the transaction location around the world.
The blockchain banking process generally depends on Bitcoin-like digital currency, known as Lumens only to facilitate the cross-border payments. In recent scenario, the banks opted for such payment options by maintaining foreign accounts in a local currency that is generally known as Nostro accounts. By using this blockchain arrangements banks will keep up the transactions using Lumens and then they try to convert the lumens into the local fiat currency by depending on the local market. These Lumens, created by the non-profit foundation Stellar, is a well-known name in the realm of the cryptocurrency world.
Both Stellar and IBM have become the part of the project named Hyperledger Fabric that is built on the open source blockchain tools that intend to support the infrastructure of the payment system.
As the future predictions made by the cryptocurrency market expert banks will use the Stellar’s digital currency on a temporary basis. There is a higher chance that the banks will start issuing digital currency on their own. These digital currencies will become an essential part of blockchain based money transfers.
Is it the right time to invest in Stellar?
As the time passes by, the Stellar platform is developing gradually and it is getting better day by day. There is a huge possibility that Stellar, after its association with IBM, is adopted by most of the central banks all over the world. The value of Stellar is growing at a significant rate. Thus, this crypto coin is giving a serious challenge to Ripple. Moreover, the volume can also get increased as its adoption by the financial sectors and ICO projects. Thus, it is the golden time to make an investment in Stellar, as later there is a huge possibility that the price can go up.
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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 Kansir via Flickr
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.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
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.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
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