Stellar: The Ethereum Killer for 2018?
One cryptocurrency is having a stellar performance this early in 2018, and it is aptly called Stellar.
Some analysts believe 2018 would be the year of Ethereum. But another platform for distributed apps is coming along, with even bigger promises. Stellar (XLM), recently rebranded from Stellar Lumens, grew more than 230% in the first days of 2018, reaching a price of $0.75.
Stellar functions similar to Ethereum, with a gas-like asset called Lumens used to pay for transactions.
Stellar’s transactions are much faster, finishing between two and five seconds. It also allows users to swiftly exchange government-backed currencies, including turning U.S. dollars into Euros. Stellar also features a decentralized exchange.
Next Stellar Build Challenge
Stellar announced that its next Stellar Build Challenge would happen on February 15, 2018. The 5th Stellar Build Challenge closed at the end of 2017 and had attracted over 50 projects. Stellar said in its year-end announcement:
“Over 50 different projects were submitted for this year’s build challenge, and 35 were awarded a total of 5.7 million lumens by our judges. Thank you so much to everyone who participated this year. Additionally, we’d like to give thanks to the community members who provided feedback for this rounds submissions.
“With the increased interest in blockchain technology, this is the perfect time to make something for the Stellar Build Challenge. We hope to see these projects again, as well as many new ones!”
The Future of Stellar
For now, Stellar has been a rather unpopular platform for ICOs, which have flocked to Ethereum and Waves. But Stellar may improve, and make good on its promises that money should move like email.
For now, the Kik app is only doing test runs on Stellar, and in the future may migrate its token to the new network, if the tests show feasible results. The KIN digital asset and Stellar may both have a field day in 2018, as they remained depressed in the past year.