Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
This project really sets itself apart from many others, it functions as cryptocurrency as well as a development platform, in many ways it is similar to Ethereum, yet it is alot faster and cheaper, this allows applications and smart contract built on it’s contracts to operate at a faster speed and with almost no cost.
Stellar Lumens (XLM) was developed by the co-founder of Ripple so it is no suprise that they are also similar, they both have ultra-fast transactions and extremely low fees.
Here is why I believe Stellar has a great future:
- Transactions cost a fraction of 1 cent to complete which means that you can send money, execute smart contracts and run ICO’s with really low overhead costs. Imagine sending $1,000 to a relative in another country and paying less than $0.01 for that transaction.
- Transactions take 2–4 seconds to complete, again this is a major benefit for money transfers as well as business uses like ultra fast smart contracts and ICO’s processes.
- Now you can send $1,000 to a relative in another country for less than $0.01 and it will arrive there is less than 5 seconds, compare this to a bank transfer that will cost at least $25 and take at least 2–3 days to complete.
- Stellar could become a major competitor to Ethereum, it’s speed and low cost combined with being able to perform the same functions of Ethereum could position Stellar as a potential rival, it has even been called an “Ethereum Killer” by some people but I think both projects can peacefully co-exist.
Stellar Lumens (XLM) is currently 30 cents ($0.31) and can be bought and stored on CEX using cash, so investors do not need to buy BTC or ETH and trade it for XLM, this direct means of investing reduces the trading fees and lowers the barrier of entry for investors thus helping to increase adoption.
Stellar Lumens is like a cross between Ripple and Ethereum and was even started by the Ripple co-founder, in my opinion this project has a lot of potential due to it’s technology and reputable team.
Bookmark this page and check again next year, you might be surprised.
Why this cryptocurrency may have a good future ahead of it was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.