Stellar (XLM)

0.00003232 BTC
$ 0.11 USD
-3.95 %

Stellar News

2,070 Cryptocurrencies
Here's the latest news on Stellar:










About Stellar
Stellar Price
What is Stellar?
Buy Stellar

Stellar Price

Price
$ 0.11 USD
0.00003232 BTC
24hr Volume
$ 55,126,400.42 USD
Market Cap
$ 2,111,698,049.00 USD
1 Hour Change
-0.81 %
24 Hour Change
-3.95 %
7 Day Change
-13.36 %

What is Stellar?

Stellar is an open source distributed protocol for value exchange. Stellar is an advanced technology that connects people, banks, and payment systems with its focus on the developing world. Stellar allows you to perform multi-currency and asset transactions fast and reliably by using a crypto-asset known as Lumens (XLM) as the bridge. This means that users can, for example, send a transaction from their Euros balance and it arrives as pesos, dollars or any other intended currency.

Stellar enables you to hold a balance with a gateway, which is any participant in the network you trust to accept a deposit in exchange for credit on the network. Stellar’s built-in currency, Lumens has its value determined by the market. The Stellar protocol is maintained and supported by a non-profit organization; the Stellar Development Foundation.

Stellar was founded in early 2014 by Joyce Kim and Jed McCaleb, who is also the creator of eDonkey. Its board members are; Bartek Noeotarski (developer), Boris Recnokov, Keith Rabois, Shivani Siroya, Greg Brockman, among other developers and advisors. The employees contribute code to the network, but the system is independent of the organization. At the launch of Stellar, it was grounded on the Ripple Protocol. After the developing team had made various changes to critical consensus code, the network forked. Joyce Kim, Stellar co-founder claimed that this was a flaw in Ripple protocol, but the claims were challenged by Ripple labs CTO, Stefan Thomas through a blog post. Stellar then created an updated version of the Ripple protocol with a new consensus algorithm, based wholly on new code. After the release of the code and the whitepaper for the new algorithm in April 2015, the upgraded Stellar network went live in November 2015.

Stellar Lumens Features

The key differentiator of Stellar Lumens from other cryptocurrencies is its business appeal. Notably, even though Stellar is a little more like Ripple, there are profound differences between the two. Stellar operates as a non-profit organization while Ripple is a for-profit initiative. Secondly, while Ripple’s network is regarded as more centralized, Stellar runs a decentralized approach, which is more like the way the Bitcoin community works.

Inflation

On the issue of inflation, the Stellar network has dealt with it by introducing a built-in, stable inflation mechanism whereby new Lumens are added to the Stellar network at a rate of 1% every year. The network also charges a base fee, of around 0.0001XLM for every transaction made, and the funds are added to the “inflation pool.” Everyone who holds Lumens is allowed to vote on where the funds in the “inflation pool” go; then the protocol allocates these Lumens each week to any account that gets over 0.5% of the votes. On its launch in 2015, 100 billion Lumens were released.

2018 Roadmap

Stellar is expected to continue surging in 2018. With Stellar Lumens being much cheaper than Ripple and Bitcoin, and its iconic partnership with IBM, the cryptocurrency is becoming more and more appealing to investors, including Alexis Ohaniah Sr the CEO and co-founder of Reddit. Mr Ohaniah, on 22 Jan 2018 tweeted that Stellar is definitely worth subscribing to in 2018.

The updates from Stellar in 2018 include the Stellar & SUSS meet-up in Singapore, held on the 8th of January 2018. The meet-up’s agenda is to network, a presentation from Lindsay Lin via Stellar and a presentation from Wang Yu, a research fellow at Singapore University. Various predictions on the blockchain industry were also discussed.

Stellar released its 2018 roadmap on the 28th of January, describing its progress and vision heading into the future. The cryptocurrency has garnered healthy media attention of late, following the anticipated FairX news, (FairX intends to use Stellar’s platform to facilitate its cash crypto-trading pairs) and its own personal developments. 2018 has proved profitable for Stellar, with XLM leaping up 50%, surpassing Litecoin to join the market cap top ten. XLM has received coverage from Time and MSNB. Time went as far as dubbing Stellar “The next Bitcoin,” because of its cheap and fast multi-currency transfers, to facilitate financing Third World projects.

Several businesses and non-profits are implementing the Stellar technology as a financial structure, notably in developing countries. One such example is the Praekelt Foundation which is intending to integrate Stellar into Vumi, its open source messaging app, to allow young girls in Sub-Saharan Africa to save money in airtime credits. A cloud-based Nigerian banking software known as Oradian is also planning to use theStellar network to link microfinance institutions in Nigeria. The consulting firm, Deloitte, is as well a partner to Stellar.

Stellar News

In December 2016, more institutions partnered with Stellar, including organizations from India, West Africa, and the Philippines. In October 2017, remarkably, Stellar and IBM formed a partnership to increase the speed of global transactions.

Stellar Mission

According to Jed McCaleb, the CTO and co-founder of Stellar Lumens, technology should be used consciously to improve the human condition, which is what he does, by building Stellar that according to him, democratizes economic participation. Mr. McCaleb, who also participated in the creation of Ripple, reports that he founded Stellar after realizing that the world’s financial infrastructure is broken and it leaves many people without resources. He describes Stellar as a combination of his love for open systems and a passion for building accessible, inclusive resources.

Buy Stellar


2,070 Cryptocurrencies