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Stellar Lumens: The Hottest Cryptocurrency Of 2018?

20:09 26/02/2018
Most Promising Cryptocurrency of 2018

The market cap data is taken from coinmarketcap.com on February 17, 2018.

This year a great future is expected for Stellar (XLM) cryptocurrency. Stellar Lumens have been not infrequently called a dark horse in the cryptoworld, but in 2018 this currency is predicted to rise over 1700% with more than $183 billion market cap, in comparison with nearly $9 billion cap today.


What is Stellar?


Before talking in depth about XLM, it is important to bring some general information about the Stellar platform. It was created by Jed McCaleb and Joyce Kim in 2014 as a Ripple platform branch. Firstly, it was based on the Ripple consensus protocol, but then because of some its disadvantages the new protocol for Stellar was created, and this network forked. The idea was to make a kind of “Ripple killer”, a platform with the Ripple value but without its limitations. Eventually, Ripple and Stellar are not rivals. They are rather twins with different philosophies and purposes.


What is Stellar


Stellar philosophy vs Ripple positioning?


Ripple is oriented towards banks and multinational organizations, while Stellar carries out operations with individuals. There is also an opinion that Stellar is more focused on technology development and less on branding, unlike Ripple and its loud collaboration with UBS, Santander, Union Credit, NBAD and etc. Moreover, Ripple is a private blockchain company that provides services to others, while Stellar is a non-profit organization, which has a purpose to form a global payment system. It means that Stellar is more decentralized than Ripple.


Stellar is often named as a consumer-friendly version of Ripple, because its functioning is partly based on the partnership with third-party developers. 

Stellar is often named as a consumer-friendly version of Ripple, because its functioning is partly based on the partnership with third-party developers. For example, the platform hosts the Stellar Build Challenge to reward users who create useful technologies in the Stellar ecosystem. A total of 550,000 lumens will be distributed amongst the winners, as it is written on the official webpage. The network creators have also launched Stellar Partnership Grant Program that offers up to $2 million worth of lumens per grant (the accurate amount is based on the lumens price at the grant date).


Running ICO: Stellar or Ethereum

Free lumens can also be distributed by airdroping to those who hold bitcoins in specific wallets. It is not a regular procedure, the bitcoin holder should monitor cryptomedia and official Stellar webpage to get to know more about it.


Running ICO: Stellar or Ethereum?


The Stellar network is also convenient for running ICOs. In this case the platform can be even better than the Ethereum one: in January one of the largest recent token sales ($39 million ICO of Mobius Network) took place on the Stellar. As the company’s co-founder and CEO David Gobaud said to Coindesk.com, the Ethereum blockchain had suffered from transaction backlogs and rapidly changing fees, it had been too slow, too expensive and too insecure, so the decision to switch the ICO platform had been taken.


Cooperation with ...?


Now Stellar works with Tempo Money Transfer, ICICI Bank, Flutterway, Coins.ph, it also has partnership relations with several Chinese companies. Since October 2017, its cooperation with IBM and a network of banks, that will use platform for cross-border transactions, has started. The aim of the Stellar’s teamwork with IBM and KlickEx (APAC region partner) is generally to reduce transaction costs and to increase the money movement speed. The IBM plan, announced in October 2017, is to process cross-border payments with more than $1 billion amount per month in the South Pacific key markets early this year.


All these facts about the platform help its Stellar lumens currency to grow rapidly and win the trust in the cryptocurrency arena.


World cryptocommunity about Stellar lumens


At the beginning of 2018 CNBC has already named Stellar the new hottest cryptocurrency of the year according to its growth rate. The coin’s growth was compared with gains of other top-10 currencies and Bitcoin’s losses over two unlucky weeks of December 2017 and January 2018.


Martin Davidson, co-founder and CEO of Blockchain Centre: "The Lightning Network can influence lumens, their rate will likely become lower than today."

Nevertheless, the opinions about XLM future are different. Some of them predict lumens stable continuing growth, others claim Stellar might lose its value by the end of 2018. For example, four panelists for the finder.com article showed the forecast diversity.


Joseph Raczynski, a technology consultant and manager specializing in blockchain, paid attention to ICO possibilities of Stellar platform in comparison with Ethereum one and invoked traders to wait and see if it becomes a trend, not a momentary move.


World cryptocommunity about Stellar lumens

Fred Schebesta, co-founder of finder.com, said, he could not estimate the cryptocurrency inflation rate this year.


Four panelists for the finder.com article showed the forecast diversity.

Martin Davidson, CEO and global director of the Blockchain Centre, emphasized on the Lightning Network’s possible influence upon lumens and made a prediction it would become cheaper than today.


Clayton Daniel, founder of sproutsuper.com.au, suggested there would not be any tangible changes in actual price of Stellar lumens.


Michael Dunworth, CEO and co-founder of Wyre Inc., told to valuewalk.com, he was not confident in XLM. He predicts that the coin will just show short-term wins, while long-term ones will make people switch to other protocol coins with the similar value add.


At the moment Stellar’s progress, according to Coinmarketcap data, seems to be fairly stable for a high volatility market conditions. Right now its capitalization is lower than at the end of January, but after a palpable drawdown of February 2 it has been demonstrating a sort of uptrend, and the market cap of Stellar lumens reaches nearly $9 billion.

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