IBM once announced a new partnership with Stellar Lumens. This included eight new validators and the price rose to well over $0.24. Stellar have introduced their concept of the network ATM in 2017 and they did this in Singapore. This move is said to bring a ton of attention to their currency and it is also going to really help out the world of cryptocurrency as well. Jed McCaleb is one of the founders for Stellar and they have said that more than 30 banks would join the partnership. That’s happened already and if that wasn’t enough, Nano Ledger S have included the token in the list and all of this happened a good while ago. Stellar has grown by well over 6300% and this is even the case as it’s been included in a huge range of exchanges recently. This is an amazing feat when you look at how young the project is and this has a lot to do with the partnerships that Stellar Lumens have achieved over the last couple of years. This includes SatoshiPay, and this is a service that gives people the chance to monetise any digital currencies they have, and this is a very exciting feature.
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There is also Keybase and this is a company that focuses on working on centralisation and even privacy as well. This has got the same beliefs that Stellar does and they have well over 200k users already. They are growing by the year and there is a very open team that have done a lot of work in the past. Other partners include EXCH ONE. This is a Swiss exchange and they want to include both the digital currency and the fiat currency as well. They really do want Stellar to go along with them in both the Americas and in Europe as well. Klick-Ex is a very famous firm that believes in providing international transactions and this is very relevant in the area of the Pacific and Europe as well.
As if that wasn’t enough, you also have HashCash, who focus on developing financial solutions. Mobius is a service that will help them to stay relevant on the mobile market and they also have the ability to make very smart contacts for those who aren’t on the chain. The best of it is that Jed McCaleb is also a part of this company. And lastly, you have Deloitte, this is a consulting firm that works with companies that are all on the Fortune 500 list. The firm expects a lot of their clients to adopt XLM very soon .
So that raises the question, why are more and more firms opting to use Stellar?
The answer is very simple. Stellar has the means to try and steal Ethereum’s ICO when it comes to creating super simple tokens. ETH has the ability to create a brand new ICO and this is done by creating it based on the ERC-20 blockchain. This is still new if you put it up against the other ones that are on the market but it is nothing but a small contract really.
Stellar Lumens, or XLM utilises a much simpler and much more friendly language. Some of the pros of this include the fact that it gives people the chance to master the currency. This offers people a lot of freedom and it also gives people the chance to know when a contract has been created as well. This kind of contract is really very simple, although the freedom that it offers the developer can make things much more complicated. Ill-disposed contracts can be made and this can hurt users on both sides. It can also go on to hurt the network as well. Not long ago, a mistake made by a developer set them back $150 million dollars as all of this was frozen and therefore could not be used for a certain period of time.
Blockchains networks certainly do need a lot of validation and this does take up a lot of power. This is one of the issues that does tend to come with this type of technology. Bitcoin is known for being notorious and it can take up huge amounts of power just to mine the coin itself. Stellar on the other hand offers an alternative to this. The use of the Consensus Algorithm really does save a lot of money as well.
Not only does this help to make everything cheaper, but it also helps to really give people the support they need throughout the whole process.
Stellar Lumens is currently in 8th place and this is very impressive when you take a look at the other progress that has been made by coins over the years. A lot of institutions have also worked to try and give Stellar their public support and for this reason, FOMO is working hard to try and take over FUD in terms of social media.
When Stellar Lumens chose to go live, it was traded at fractions of a cent and now it is at $0.27 USD. This means that it has increased by well over 6000% and the full five months have not even gone yet.
So this just goes to show that XLM really does have a fantastic level of growth and it is still very cheap. For this reason, if you want an investment that is going to keep on growing then why not buy it in bulk, sit back and watch your investment grow.