Categories: News

Why You Should Consider Investing in STELLAR (XLM)

Stellar (XLM) is a cryptocurrency, a digital asset, a medium of exchange for secure financial transactions. Cryptocurrencies use a decentralized control as opposed to common central banking systems. This decentralization is usually controlled by a distributed ledger technology like blockchain processes.

The well-known Bitcoin currency, first released in 2009, is considered as the first decentralized cryptocurrency. However, since its release, over 4.000 alternative cryptocurrencies have been created. Stellar (XLM) is one of them, and it may unveil more value than most current altcoins.

The internet is made up of network servers containing our date, websites and applications. Like the Internet, Stellar is a network of decentralized servers in many locations that power the distributed ledger. This ledger records every transaction in the system for people and companies alike.

A complete copy of the global ledger exists on each Stellar server. The network become more robust and secure with more servers as they communicate with each other to verify transactions and sync the ledger periodically. The ledger records your money as credit, issued by anchors.

Anchors act as bridges between a given currency and the Stellar network. Banks and payment processors are an example of real-world anchors. The credit is issued to your online account, just like a virtual wallet, in exchange for deposits. Anchors have to be trusted to hold your money. Credit can be sent and received between people of the network.

Stellar has a distributed exchange so you can also send USD credit using EUR credit between your friends. The network will do it at the lowest rate possible. They will then receive the money which can then use by withdrawing using an anchor supporting the currency.

One lumen (XLM) is a unit of digital currency, like a bitcoin. Lumens are the native asset of the Stellar network. While you can’t hold a lumen in your hand, they are essential to the Stellar network—they contribute to the ability to move money around the world and to conduct transactions between different currencies quickly and securely.

Now that you know how crypto works and what Stellar does differently, why should you consider starting investing in it?

Deloitte, one of the world’s largest financial consulting firms, set out to innovate in the core banking space with blockchain technologies. They had a prototype that reduced transaction costs by 40%. Each transaction resolved in 5 seconds. Eric Piscini said, “the client was amazed by how fast and how cheap those transactions were.” In other words, this partnership launches the cryptocurrency world to a new higher level.

Although many recall all the buzz, regarding the Bitcoin value crash and the consequent controversy, Stellar invests in a continuous development approach. The partnership between Stella Lumens and IBM runs deep. They’ve announced steady progress on a wide range of shared initiatives. IBM along with 12 other banks across the world have joined hands for the faster transaction of financial assets throughout the world.

What about predictions? Stellar has been maintaining a steady trend since the beginning of 2019 with the price of the coin peaking up to 0.13 USD in the April. Stellar’s recent listing on the coinbase platform is now making it more accessible to the traders, and hence a price surge of over 75% can be expected till the end of 2019 with the highest peaking to almost 0.15 USD.

Google and other big companies already predicted that in the next 2 years, the value of each XLM coin will fall between 10 USD and 100 USD. Nothing is certain as cryptocurrency come and go, however, Stellar seams to be the one to bet on when it comes to target a bigger future revenue in the near future.

Image(s): Shutterstock.com

James Woods

Cryptophile, Tech Geek, and an avid developer.

Share
Published by
James Woods
Tags: stellarXLM

Recent Posts

  • Crypto

Twitter Account @Bitcoin Removes all References to Bitcoin Cash

The cryptocurrency industry needs a weekly dose of drama. When there are no scams or dubious investments to discuss, the…

8 hours ago
  • Infographics

How to Use Live Video for Your Business

Live video in today’s internet is changing the way people watch video as a whole and can be used to…

10 hours ago
  • FAQ

What is ParJar?

Crypto-related services tend to become popular during the first few months. Sustaining such a trend is often very difficult Convenience…

21 hours ago
  • Infographics

Taxes: How to Pick a Recession Proof Career

Many experts predict that the U.S. might face another recession as early as next year and by 2021, others foresee…

1 day ago
  • Crypto

Asset Protection Won’t Take Cryptocurrency Mainstream Despite Report Claiming Otherwise

There are always questions as to how popular cryptocurrency really is. Finding an answer to that question is not straightforward.…

2 days ago
  • Infographics

The Sharing Economy: How to Enhance Your Lifestyle Without Onwership

The U.S. economy is booming with unemployment the lowest it has been in nearly 50 years, nominal wage growth is…

2 days ago

This website uses cookies.