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Interest Increases in Stellar as Conference Nears

March 2, 2018

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

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