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Will Stellar Win the Battle for Blockchain Talent by Acquiring Chain (a Blockchain startup)?

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Most of the professionals who are experienced and skilled at developing Blockchain based applications are not your typical Silicon Valley programmers and engineers. In fact, hardly will you find any of the leading developers of Blockchain technology living or working in Silicon Valley. Generally, there is a seeming disconnect between open source platform developers and creators of commercial products for software companies in Silicon Valley.

Why are there few Blockchain developers in the Valley?

The reason for this is simple. Most developers who are experts at creating open source Blockchain and cryptographic platforms are millionaires. Blockchain initiatives and cryptocurrency startups are investing heavily into the crypto space and as the wall street journal puts it, a developer can earn as much as $1 million in bonus offers alone.

Furthermore, the lines between industry and open source projects continue to get thinner going forward and multi-billion conglomerates are continuously looking to invest more in talent so as to build sustainable solutions. Coinbase, for instance, is planning to increase spending on open source Blockchain based projects with products such as the open source fund that is designed to attract the best Blockchain talent.

With the profits made by Blockchain and cryptocurrency based companies like Coinbase, it’s easy to see that a good number of Blockchain companies can easily afford to pay leading Blockchain developers in the range of millions for a single project. Simply put, Blockchain talent is rare and in demand.

Trudging the tough terrains of talent in the industry

However, Blockchain companies are still finding it tough to retain the best talents in the industry. For example, BitGo (a Bitcoin security startup) lost one of its leading developers (Alex Bosworth), who left the company to go work on the implementation of the lightning network.

As it seems, developers in the Blockchain and crypto space find it more fulfilling to work on open source projects that advance the industry as a whole instead of working for individual companies. Could the case be different for open source projects like Ethereum and Stellar?

Stellar’s search for Blockchain talent

Thankfully, Stellar is one of the leading open source Blockchain enterprises that connect banks, to payments systems so as to enable individuals to move money quickly. In fact, Stellar is currently in talks with Chain (a San Francisco based tech company that builds financial industry Blockchain based technologies).

According to Fortune, Stellar is looking to acquire the startup for a sum of $500 million that will be paid in stellar lumens (XLM). Chain has the engineering talent to develop Blockchain technology hence the move by Stellar to acquire this Silicon Valley-based startup makes total sense.  Even though Stellar has yet to disclose what it intends to do with Chain once the deal goes through, it is highly likely that Chain’s pool of leading developers will be working to build Stellar’s open source products if the deal becomes successful.

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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.

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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