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Stellar price surges, reaches in the list of top 10 cryptocurrencies

Jan 06, 2018 Posted /  3328 Views

Stellar price surges, reaches in the list of top 10 cryptocurrencies

2018 has just begun and the list of cryptocurrency top 10 is looking tumultuous from last year. Dash is not dashing anymore, Ethereum a spot down, Cardono reaching the top 5 and the major list being replaced by coins that have never reached these exhilarating heights before Tron and Stellar. The second one at one time reached number six spot after tripling in worth in seven days from a low of 32 cents. Stellar now brags a $12 billion market cap with at present trading price of $0.73 levels. Subsequent to downtrodden first three years of its existence, Stellar is now reaching new heights and appealing extensive media consideration.

A lot like Ripple

Stellar is elaborated as an open-source project with a “distributed, hybrid blockchain”. It is explained as a method to assist in the cross-asset exchange of value, which also integrates payments. The Stellar Network establishes a public, global financial network where all stakeholders such as people, payment networks, or banks have equal admittance. By hearing such thoughts, you might start comparing it to Ripple. Such thoughts are bound to occur, as Stellar is Ripple’s sibling, and is invented and created by Ripple co-founder Jed McCaleb. After McCaleb left the company, he went onto design Stellar. It is important to note over here that he is also famous for having trade Mt Gox to Mark Karpeles in 2011.

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In the beginning Stellar was created as a fork of the Ripple protocol, however, later it was significantly rewritten. The native currency of Stellar is called Lumens (XLM) boasts way speedier transaction times (of under five seconds). The network has also fixed inflation rate of 1% per year. Similar to Ripple, Stellar’s aims at financial institutions and corporations, and the company has already signed deals with IBM and Deloitte. The Deloitte is now even classified as an official partner.

Stellar’s goals are similar to most of the cryptocurrencies that are to become the web’s one major payment solution and it bets hugely on low fees and swift transaction times, nevertheless, the same are boasted by many other altcoins.

The market is shining with Lumens

During last year (2017), 29 cryptocurrencies surpassed bitcoin’s 1,600% gains, and stellar was part of that list. Its price growth was an astonishing 28,000% in the period of 365 days. In the past two days, $800 million lumens were traded on diverse exchanges. The Lumen token reached an all-time high of 90 cents this week and is at present being traded for around 75 cents.

Some analysts suggest that Ripple and Stellar are fighting a battle for supremacy, which is similar and revision of battle between Bitcoin Core vs Bitcoin Cash. If we compare, there are many resemblances between Ripple and Stellar, including their public codebase, people, and target audience. These similarities are inevitable and akin to establishing relationships with banks and other financial institutions. However we can definitely say that Ripple is a street ahead, but Stellar is slowly surpassing it in many other spaces.

There is one more thing; Stellar does not hoard 60% of the total supply to itself. However, Ripple has in its hand a total of 55 billion XRP. The entire number of coins in existence on each network are quite analogous though, standing at 100 billion Ripple and 103 billion stellar. At present, 17.8 billion stellar are in circulation and two billion of them were awarded to Stripe in 2014 in exchange for a $3 million loan. If Stripe still possesses them, those lumens will be now worth billions.

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Tags: list of cryptocurrency Ethereum Stellar price hybrid blockchain

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