If you’re having hectic time moving those funds in your digital wallet, Stellar Lumen (XLM) is the perfect solution for you. Tons of cryptographic currencies are already trading on the crypto sphere with the likes of Bitcoin and Ethereum leading others to the Promised Land.
The tendency of these coins failing is there but what stands Stellar out is its selling point. Investors have tendered complaints on non-availability of crypto to fiat conversions; leaving their funds trapped and possibly sealed in their wallets.
Stellar Lumen (XLM) became prayer answered because of its interoperability that cuts across different currencies. At the moment, the bullish race is far behind schedule given the dominance Stellar Lumen (XLM) had gained in recent times.
The Hay Days Of Stellar Lumen (XLM)
Stellar was one of such blockchain platforms that many might have wished away with a wave of the hand. Launched in 2014 by two interesting characters; Joyce Kim, a lawyer and Jed McCaleb, the co-founder of Ripple (XRP) and Mt. Gox. Stellar was developed by the Stellar Development Foundation and soon hit the ground running after its launch. It was obvious the platform had itself immersed in the water of exponential success given the background of its lead founder.
Jed McCaleb was behind the P2P file sharing platform known as eDonkey and had successfully made his mark on Mt. Gox; a Tokyo Bitcoin exchange which had gone on to record over 70% of Bitcoin transactions in 2014. Interestingly, he is also on the team of the third topping cryptographic currency – Ripple.
The Bullish Race Started As A Partnership
It is common knowledge that the capitalization of any currency makes or mars its throughput. Stellar Lumen (XLM) was meant to be a decentralized payment channel that would handle multiple transactions across different currencies. Earlier working with the currency, Stellar, it later renamed this Lumens.
The quest to use the currency started with Stripe which had helped in its development. It received about $3 million USD from the company and would later go on to gain the recognition of Brazilian-based Bitcoin exchange, Mercado Bitcoin.
In its quest to foster cross-border transactions, Stellar Lumen (XLM) had gone on to strike partnerships with IBM and Deloitte Digital Bank, a payment application. The early months of 2018 saw Mobius Network running its ICO on the stellar network. ZED Network had also made known its intention of using the stellar network in developing global payment channel.
Why Stellar Lumen (XLM) Will Be Bullish
Investors might argue that Stellar Lumen (XLM) does not qualify in the scheme of things but concise look proves that the platform is actually in the green. It is perhaps the first chain network that connects banks and end-users. On the network, cross-border transactions are fostered across key parties such as payment channels and end-users.
Aside the impressive partnerships it had drawn to itself and its standing in the market, Stellar Lumen (XLM) has unique features that would attract investors even when in the red. First, transaction costs are reduced to the barest minimum.
Conventional cross-border payments such as VISA hardly attain real-time throughput. To this end, Stellar Lumen’s (XLM) five-second maximum transaction timeframe will no doubt draw investors from far and near.
In its quest to extend control to users, the platform allows you build payment gateways using its network. The process was simplified with provision of user-friendly developer tools. Users actually want freedom and that’s what Stellar Lumen’s (XLM) open-source protocol offers.
Why Ripple (XRP) Will Come To Roost In The Bullish Race
While Stellar Lumen (XLM) might not be near Ripple’s (XRP) capitalization, it won’t be long before it starts rubbing shoulders with it. Ripple (XRP) will actually help Stellar Lumen (XLM) come up the ladder given the fact that though separated, they’re united by one father.
Ripple’s (XRP) co-founder was major brain behind the platform and it is expected that he would bring his flair in Ripple’s (XRP) trading to play on the platform. Interestingly, the coast seems clear because Stellar Lumen (XLM) has about 60% of Ripple’s (XRP) upsides. For instance, it is capable of delivering over a thousand transactions each second.
IBM Nailed The Bullish Race
The last straw holding down Stellar Lumen’s (XLM) restraint from skyrocketing was perhaps broken by IBM. The latter had announced plans to create a stable coin using Stellar Lumen’s (XLM) network. Observers have posited a surge on its market value pulling it up to the sixth spot. With the adoption of its network by a reputable organization as IBM, Stellar Lumen’s (XLM) capitalization at the time in addition to the tidings it brought might not have rubbed off as the platform is set to project higher. In a nutshell, Stellar Lumen’s (XLM) bullish race is already on and will only get better.