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Why IBM (NYSE:IBM) is Getting Serious about Stellar (XLM)

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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.

Blockchain Banking

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.

We will be updating our subscribers as soon as we know more. For the latest on XLM, sign up below!

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

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

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

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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 been…

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