An open-source digital platform, Stellar employs the decentralised currency and financial trading systems to bridge the gap between people, banks, and payment networks. The project was started with the aim of constructing an affordable fiscal system where individuals from all income categories enjoy access to safe and affordable financial services.
How does it work?
Stellar is a network of decentralised servers which power a shared ledger together where all transactions of the ecosystem are recorded. The ledger records the cash as credit issued by specific gateways. This credit is issued to a user’s virtual account which here works like the digital wallet for the currency. The Stellar holders can then send credit to other individuals on the network via multiple currencies which are immediately exchanged at the lowest possible rated.
Why should you consider investing in Stellar?
IBM Partnership: This reason alone gives Stellar an edge. IBM and Stellar are working together to fix a common problem. The IBM-Stellar payment solution represents a shift in the way traditional and now, non-traditional financial institutions allow transactions around the world with as little transaction fee as possible.
A blog post on their website tells us that IBM chose Stellar primarily because of its non-profit status, scalability, its token owner transparency, its team, and the fact that the project can support any asset type.
Stellar has a similar partnership with KlickEx as well.
Powerful Technology: The technology behind the project is nothing short of powerful. The coin is similar to Bitcoin in the sense that it is a distributed blockchain facilitating cross-border fund transfer and to Ethereum in that it allows the creation of dApps but one important difference between Stellar and the other two is that the transactions carried out on the Stellar network are free.
The network is pretty straightforward which makes it easier for the users. The network does not impose any restrictions on any commercial use of the network. Moreover, the network has worked really hard to maintain top-notch scalability. A conservative estimate of its processing rate is around 1000 operations per second.
Regulation Compliant: This is a major advantage that the project has over other cryptocurrencies. ICO regulation is an inevitable stop in the crypto world. Every week/month we see authorities from newer jurisdictions issuing regulations that subject cryptocurrencies to various consumer protection issues such as anti-money laundering and most importantly, security.
Some authorities have gone so far as to completely halt the ICOs while some have established dedicated cyber units to probe ICO and blockchain-related misconduct.
But Stellar does not have to worry about any of it. Stellar is already compliant with the most rudiment and important ICO regulations and is working to assist entrepreneurs with a regulation compliant token offering.
Free and Fast: Did we mention that Stellar transactions are free? We did. So let’s move on to the fact that the network provides lightning fast verification of transactions which saves users precious time.
The average transaction settlement time is 2-5 seconds with approximately a thousand transactions occurring per second.
Allows easy transfer of money: Stellar allows for any financial instrument to be transferred as a type of money to anyone in the world for free and instantly in any currency. It is working to make cross-border fund transfer easy for people and it is doing just that.
Stellar solves major problems by digitally representing existing currencies and assets, making payments interoperable across institutions and currencies, and providing a highly scalable platform.
With the IBM partnership and the lightning fast transactions, the project has achieved quite a lot in the past. 2018 appears to be a prospective year for the project as it works towards launching its very own decentralised exchange—SDEX—and a further enhanced lightning network.
Total Supply: 103,887,050,716 XLM
Circulating Supply: 18,571,305,568 XLM
Market Cap: $8,125,169,042 USD
Current price: $0.46 USD
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Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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