Project Update: Stellar Lumens (XLM) the Protocol for Value Exchange

by birtanpublished on September 27, 2020

Hello digital means and welcome to this project update for the star lumens project with a token x11 now today's 26 of July and in this video I will be basically looking at how it is currently doing and what are the future plans for this project as always thank you very

Much for watching this video and I do hope it will be useful indeed we'll begin with the basics of the project let's give what it trying to do so the clinic banks payment systems with the aim of moving money quickly reliably at

Almost no cost so through stellar users can basically send funds across the world without any significant fees or delay so the entire process will take about 2 to 5 seconds usage wise the project is being aimed at both

Individual users as well as businesses so stellar can be considered at the centre eyes ripple they're very similar but sterile is not as controlled by one central authority as ripple s so the team is based in USA they do have

Offices in San Francisco and New York as well this is like the basic information about the project now we're gonna look into the tokens and the actual usage so the features of the platform include stuff like – remittances which means you

Can send your money across boards very quickly very easy for a fraction of a cent micro payments that increase efficiency and decrease the cost of small transaction so again sound very tiny amount of money without having to

Worry about any significant fees they'll have more branches that are gonna allow the usage of the mobile branches to expand the retail operation mobile money that means customers can send money to recipents with different providers

Services for the unbanked so low-cost amounts locals account loans and micro savings for people struggling basically to get normal bank accounts so they're trying to basically unbanked the unbanked did you have their own token

Which is Exilim it is a native asset that's built into the network and it's basically needed for a small transaction fees when you send the money also if you want to create an account you need to hold a

Little bit of the tokens as well and it's also gonna be used as a bridge between the front of a different currency so to exchange currencies you would have to exchange into the stellar first and then from stellar into a

Different currency from there so some of the recent news that they had and they had a lot of different news of their very significant ones the recently Star has received a certificate of the Sharia compliance that will allow them to

Basically use by the Muslim population it's a pretty significant deal quite often overlooked but it's pretty major then they haven't mentioned as one of the asset considered for the coin base listing again that is a very significant

Development something that only few coins received IBM either you have a partnership obviously with IBM pretty well-known company pretty big business and they confirm the increased adoption of star by confirmation that basically a

Couple of the largest banks are adopting it to help with the adoption IBM is exploring cryptocurrency pegged to the u.s. dollar is going to be called stronghold USD and it will be running on the star of Block C Network kind of like

Tedder if you think about it and then they do have their own star the central exchange already life and running what they do they will have some improvements and some additional features on it so as you can see there's quite a stuff

Happening well this project which can explain the recent price explosion they do have some additional developments in the roadmap for 2018 so first of all they do have that decentralized exchange but do you have

Ongoing developments to it basically trying to finish the feature list there is further support for the ecosystem plant for 2018 so they have stuff like weather over a brand communication help with more guides better technical

Documentation that includes release notes and continued improvement to the horizonte P I and the SDKs as well and then they have another major development will be Lightning Network something a Bitcoin or the house and that would have

A very positive impact on stellar because it would improve the long-term scalability and security as well obviously Sarah is listed on several exchangers of the major ones being balanced were

Almost half of the volume goes through significant volume for imbalance if you want to buy star elements you should probably buy it from there because there's a lot of token so you can probably get the best price

Oh—but that's a Korean exchange that's a main exchange for the Koreans Paulo X which is a decent alternative to buying US but I like burns way much then the following so I would probably avoid it it's also listed on all the other

Exchanges like the BCH Beatrix Kraken koi neck oqx head bit all of those but if you do want to buy it then violence is probably the best choice obviously it is stood on their own decentralized exchange as well so the

Current price as of its 26th of June right it's around actually do I suddenly July it's 33 cents with the token be ranked on 6th place in terms of the market capitalization and a market cap of 6.2 billion so very significant

Market cap there around 19 billion out of the hundreds and 4 billion of tokens is in circulation so there will be plenty of tokens introduced in the future here is the price graph as you can see there's quite a low price

Movement in the past a lot of significant swings especially the major major price increase as you can see here that at the end of December and beginning of January then they're also April increase and recently changed due

To the announcements overall it really was one of the strongest altcoins during the bear market that in currently had well still have really the all-time high is almost $1 from 93 cents and I was achieved on the 4th of January so

Most my overall opinion is a pretty quick video as I usually try to have videos in this series pretty quick so they have been very impressive recently quite a lot of you know good development good announcements and as a result good

Price increase now we do have to consider ripple being the main competition and April is worth currently three times as much as stellar which I personally think is not justified as any star is just as good as ripple but I

Think it's more of a case of ripple being over priced currently ripple being you know the market cap of ripple is not being justified by what they have achieved so I think the ripple should be more closer to the star

Place price than the other way around on the other hand harvest are there any value that seems benign like I said before and they do have that IBM partnership which is great they have Bank partnership which is great too but

It's already very high market cap it's one of the highest coins in terms in the market caps or something to consider as well the future does look very good for it though they do have very significant updates the likes of Lightning Network

And they do have quite a lot of upcoming projects that will be built on top of it including that stronghold USD so I think it's on the safest choice out coins next to the likes of is cerium iodine near or reaching I personally would probably

Pick any of those but if you do like what star is doing and what the team is trying to achieve then I think it's a very justifiable justifiable choice I think it's a very good choice I personally don't hold any star who

Lumens tokens but not a financial advice I think it does seem to be like a decent project anyway that cuts a possibility to go mainstream in the future that's my opinion obviously you do not have to agree of it

But I like the project I don't think it's the best investment out there but I think it's a very solid investment thank you very much for watching I do appreciate you checking out my video subscribe for more and I still love you

Cheers and bye

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