Stellar Lumens (XLM) Cryptocurrency is Staking Its Claim as the Ethereum Blockchain Killer

It is clear that Ethereum (ETH) is currently facing a lot of competition in the cryptocurrency market. It is not as easy as before to be one of the top virtual …
Stellar Lumens (XLM) Cryptocurrency is Staking Its Claim as the Ethereum Blockchain Killer

It is clear that Ethereum (ETH) is currently facing a lot of competition in the cryptocurrency market. It is not as easy as before to be one of the top virtual currencies. There are several projects that are growing and threatening Ethereum’s dominance.

Although Ethereum continues to dominate the Initial Coin Offering (ICO) landscape, the situation does not look so positive for the future. The network has different scalability and speed problems that need to be solved, and developers seem to be struggling with this issue.

Now, ICO teams can start their projects in many different platforms such as EOS, NEO, VeChain, Stellar, Tron and many others. This is good in terms of development because each of these projects wants to offer the best solutions for users.

One of the latest projects that were released to the market is Kin. This virtual currency and blockchain network was launched by the Kik company that operates Kik Messenger with 300 million users around the world. Although it was launched on the Ethereum platform, Kik announced that it will close kin’s atomic swap with Ethereum.

Stellar is also one of the largest blockchain networks in the cryptocurrency market. It has an easy-to-use token and a system that is permissionless and accessible to everyone. At the same time, Stellar has built-in-token capabilities that support multi-language signature authorizations, and more.

Furthermore, Sellar’s token can be traded without having to rely on a third party exchange. Moreover, compared to Ethereum, Stellar offers faster and cheaper transactions.

Back at the beginning of the year, the ICO Mobius was distinguished because it was one of the most extensive networks in the market and it was carried out on the Stellar network. Nevertheless, Ethereum offers a very good infrastructure for developers to create a token, carry out an Initial Coin Offering, or create a new blockchain network.

Ethereum’s dominance is being eroded by new competitors that are entering the market. This does not mean that Ethereum will disappear, but developers will have to work harder if they want to help Ethereum remain competitive.

With the scaling issues that Ethereum is facing and the problems related to the transition between PoW to PoS consensus, other networks are starting to grow and take a place that was before completely owned by Ethereum.

It is also worth mentioning that Ethereum lost the second position in the crypto market after XRP was able to surpass it in terms of market capitalization. This also shows that the sentiment around Ethereum is not as positive as at the end of the last year.

At the time of writing this article, Ethereum has a market capitalization of $12.31 billion and each ETH can be purchased for $119 dollars. Stellar Lumens (XLM), instead, is the fifth largest cryptocurrency with a market cap of $3.07 billion and a price per coin of $0.16 dollars.

Although Stellar is growing, it still has a long way to reach the top 3 and surpass Ethereum.

Tron CEO to ETH developers: Why don’t you just join us? We’re better!

Ethereum has been the world’s second most important cryptocurrency in many ways. It was the blockchain 2.0 pioneer that allowed to use the …
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Ethereum has been the world’s second most important cryptocurrency in many ways. It was the blockchain 2.0 pioneer that allowed to use the blockchain to execute smart contracts, it was the second coin by market capitalization for a very long time and its prestige is, again, second only to Bitcoin. Many different blockchain projects that now have lives of their own (including Tron) started running over the Ethereum’s blockchain, using ETH-20 tokens.

In a year that has been hell for the cryptosphere, Ethereum has suffered more than most other projects, solid as it used to be. EOS and Tron left the Ethereum network behind to launch their own blockchains and independent networks and tokens. The network’s users have been complaining loudly all year long about how expensive the gas price has become.

They’ve also complained about lack of scalability, especially when it happened that a betting game became so popular that it was sucking up most of the network’s power, and left a lot of users unable to run their applications and smart contracts.

If all that wasn’t enough, only a weeks ago the ETH token was displaced as the world’s second-biggest by XRP. It’s trading at $124 as we write this and that’s after its today’s surge of more than 15% (the whole market is in green today though). Before today, it has been dealing with red numbers, so traded real close to the psychological $100 barrier and, what’s even worse, for a very short time earlier today, it went below it.

Some observers believe that as soon as the ETH price goes to double figures there will be a bullish run on the coin. The fact is that such event already happened a couple of days ago and while it bounced back slightly, there was no bull to be seen anywhere (we’re seeing that today but that’s because of the market trend).

To put it mildly, Ethereum is facing serious problems because now it has competition. Tron, Cardano, EOS, and any blockchain 3.0 projects allow users and community members to do everything they do on the Ethereum network. Only faster and cheaper.

The question is: Will Ethereum’s users and developers migrate en-masse to other networks? That’s what Justin Sun wants.

Mr. Justin Sun is Tron’s founder and CEO. On top of that, he is masterful at using his Twitter account to great effect. Yesterday, Mr. Sun launched a call to Ethereum users inviting them to leave their current network behind and join Tron’s. He also explained why. His tweet (which was copied by the whole Tron community and re-published afterwards) reads like this:

In bear market, #Ethereum developers should migrate your token to #TRON immediately

1. 0 transaction fee, no gas in #TRX

2. Compatible to #ETH, 0 migration cost

3. 2000 TPS

4. #TRON dex listing. You can easily increase your token value 100% with High liquidity$TRX

— Mother of Crypto 🐉 $TRX $XLM (@MotherOfCrypto_) November 26, 2018

Mr. Sun’s tweets have been known to cause the rage of Vitalik Buterin (Ethereum’s founder and leader) in the past. This one is surely not going to make Mr. Buterin’s day either.

The problem here is that Mr. Sun is right because Ethereum’s leadership has failed to read the writing in the wall and fix all that’s wrong with the project. The TPR must scale to much higher numbers if current users will be able to keep developing new apps and contracts, and they also must find a way to make the gas price way cheaper, even free if possible.

We can’t wait to see how the cryptosphere will react to Mr. Sun’s invitation.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image Courtesy of Pixabay.

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AWS launches a managed blockchain service

It was only a year ago that AWS CEO Andy Jassy said that he wasn’t all that interested in blockchain services. Clearly something has changed over …

It was only a year ago that AWS CEO Andy Jassy said that he wasn’t all that interested in blockchain services. Clearly something has changed over the course of the last year because today, the company is launching two new blockchain services: Quantum Ledger Database and Amazon Managed Blockchain.

As the name implies, AWS Managed Blockchain is a managed blockchain service. It supports Ethereum and Hyperledger Fabric.

“This service is going to make it much easier for you to use the two most popular blockchain frameworks,” said AWS CEO Andy Jassy. He noted that companies tend to use Hyperledger Fabric when they know the number of members in their blockchain network and want robust private operations and capabilities. AWS promises that the service will scale to thousands of applications and will allow users to run millions of transactions (though the company didn’t say with what kind of latency).

Support for Hyperledger Fabric is available today. Ethereum support is launching a few months from now.

Getting started with Managed Blockchain is a matter of using the AWS Console and configuring nodes, adding members and deploying applications.

“When we heard people saying ‘blockchain,’ we felt like there was their weird conveluting and conflating what they really wanted,” said Jassy. “And as we spent time working with customers and figuring out the jobs they were really trying to solve, this is what we think people are trying to do with blockchain.”

more AWS re:Invent 2018 coverage

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Ethereum (ETH) Vulnerability Could Have Led to Exchange Drains, Report Says

A group of researchers has unearthed a critical vulnerability in the Ethereum (ETH) network which could have resulted in massive losses for crypto …

A group of researchers has unearthed a critical vulnerability in the Ethereum (ETH) network which could have resulted in massive losses for crypto exchanges. The exploit would have allowed hackers to force exchange desks without a Gas usage limit to spend extremely high fees on transactions. In addition, the vulnerability also allowed attackers to gain massive profits.

Discovered by a group of cryptocurrency researchers, the vulnerability was part of the code for Ethereum-based cryptocurrency GasToken. The exploit only affected exchanges initiating ETH transactions, not platforms processing them. In a report published last week, the researchers explained the bug would have allowed hackers to drain unprotected cryptocurrency exchanges by forcing them to pay huge transaction fees, as well as to mint GasToken by imposing a small amount of GasToken tax for “naïve users.”

“In the simplest exploit scenario, Alice runs an exchange which Bob wants to harm. Bob can initiate withdrawals to a contract address he controls with a computationally intensive fallback Function. If Alice has neglected to set a reasonable gas limit, she will pay transaction fees out of her hot wallet,” the paper explained.

Although the exact number of exchanges prone to exploits is unknown, the researchers reached out to a number of platforms that could be affected by the bug.

The report issued several recommendations for preventing malicious exploits. The authors propose implementing “reasonable gas limits on all transactions,” especially those to random addresses. They also observe that monitoring the primary GasToken contract is insufficient and would not prevent the issuing of new GasToken contracts with the same properties as the original. Furthermore, the paper warns that similar EVM-based blockchains, such as EOS and Ethereum Classic, might also possess a vulnerability of this kind.

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Securitize Raises $12.75 million in Series A funding of Digital Securities Platform

Securitize has successfully landed over $12 million USD in funding. Most notably of which, comes from Seattle-based Coinbase. This Series A funding …

Neufund

A self-described ‘end-to-end solution for securities tokenization and issuance’, Neufund is looking to ramp up development with an upcoming token sale. This offering represents one of the first opportunities for public investors to gain access to such a platform.

Beyond the services offered to companies looking to tokenize, Neufund looks to facilitate its own growth through the issuance of NEU tokens. These tokens represent fractionalized ownership of Neufund itself, and offer holders rights to a proportionate share of company revenue. The protocols utilized by the token and platform are based on the Ethereum blockchain.

In a recently released statement, Neufund CEO, Zoe Adamovicz, spoke on company development. He said, “More than a year ago we made a promise to conduct the first ever legally binding offering of tokenized equity on Blockchain in 2018 and we remain true to that plan. The first ETO will be the ultimate showcase of our product.”

Fifth Force GmbH

Fifth Force is a Berlin, Germany based venture capital firm. They are the ‘mother company’ of Neufund. Fifth Force was co-founded by Zoe Adamovicz and Marcin Rudolf in 2016. The firm has a primary focus of blockchain based investments.

Equity Token Offering

The upcoming equity token sale (ETO), is scheduled to commence on November 27th. Initially, participation will be restricted to a whitelist. The sale will proceed until December 9th, 2018, with the final 7 days being open to the general public.

Although initial plans were for a minimum €500 investment, last minute changes due to regulations have changed this to €100,000. Neufund CEO, Zoe Adamovicz, commented on the change, stating, “…We couldn’t foresee it. Anyone can invest on our platform and we remain fully committed to making offerings on Neufund more accessible, with a lower minimum ticket size. We hope that, after this one is resolved, we will receive no more unexpected requests.”

In their statements regarding the crowdsale, Neufund indicated that this offering is the first of two planned events. A second sale will occur in 2019 with a significantly lower level of investment needed – thereby opening up the opportunity to a much great audience.

Full details of the token sale will be made available on November 27, 2018 via the Neufund website.

Companies’ onboarding

Here at securities.io we have detailed various companies that plan on hosting STOs in the coming months via Neufund. These offerings range from electric vehicles to eyewear, representing a broad range of industries that have the potential to benefit from digital securities.

Neufund has indicated that in the near future there are 7 companies scheduled to host their own token offering, and have more lined up. This is a very good start for a promising platform.

Lack of U.S participation

Those that follow blockchain may have noticed, in recent months, a restriction on opportunities for those based in the United States. With the ongoing regulatory uncertainty plaguing the industry, companies such as Neufund have chosen to disallow United States residents from participating in their crowdsale. Other international investors are welcome to participate in the proceedings however.

This is, unfortunately, not the first instance where a situation like this has occurred. Countries such as Malta, Switzerland, and others have taken a more welcoming stance towards the industry. This has led to an exodus of talent. This will hurt both the present and future footing of the U.S within blockchain.

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