Bitcoin Global News (BGN)
March 02, 2018 -- ADVFN Crypto NewsWire -- A large conference in
Israel on March 5th is expected to draw a lot of media attention
and retail investor interest to the Stellar Lumen (XLM), in the
same way that attention was brought the NEO by a conference in Asia
last year. NEO's value surged during and after the Asia conference.
The March 5th conference, "Fintech Week Tel Aviv 2018", will
feature the founders of Stellar among other cryptocurrency
notables.
Stellar and its Lumen coin (XLM), branded as “the future of
banking,” has attracted a lot of interest from banks in a way
similar to Ripple. Stellar is sort of a decentralized
"uncontrolled" version of the XRP that makes use of what is known
as “leapfrog technology” to connect payment systems, banks, and
individuals. Stellar enables bankless cross-fiat and cross-crypto
currency micropayment remittances and microloans in developing
nations, greatly easing the movement of fiat to cryptocurrency and
vice versa.
Stellar is one of the top 10 biggest cryptocurrencies by market
cap and one of the fastest growing. The Stellar XLM token has found
popularity and seen a lot of action of late on Binance, Bittrex,
Kraken, Poloniex, and Upbit. Partnerships with Tempo and IBM have
lent credibility to the Stellar platform.
Online payments company Stripe recently dropped bitcoin because
of "slow transaction speeds and high fees" and announced that it
may add support for Stellar Lumens. And the Mobius DApp Store
recently chose to run Stellar over Ethereum because Ethereum could
not handle the needed transaction volume. Mobius co-founder and CEO
David Gobaud said , “We look at Ethereum like AOL or Myspace,”
underscoring the growing reality that new coins must correct flaws
native to old coins like Bitcoin and Ethereum in order to flourish
in the marketplace.
Stellar was created in 2014 as an open source alternative to
Ripple's top down structure, with the aim of allowing the transfer
of capital across borders quickly and cheaply. Stellar describes
its technology as a “distributed, hybrid blockchain that embraces
its open-source foundation to provide a transparent, open global
network for finance where all parties involved in transactions have
equal access and economic participation”.
The Stellar Lumen (XLM) allows for larger and faster transaction
volumes. Ethereum only runs at 7 token transactions per second and
ether transactions can cost more than credit card fees. Stellar
runs 1,000 transactions per second today and costs a fractions of a
penny per transaction. And its attack surface is much smaller due
to its strong support for multi-sig wallets and smart
contracting.
Stellar has a good team behind its coin, a strong community
around its coin, and real world use cases of the coin and the
technology. Many cryptocurrency trading analyst expect the Lumen's
price to continue in the green as transactions and networking on
the Stellar platform continue to increase.
By: BGN Editorial Staff
