Could Stellar Take Ethereum’s Position In The Crypto World?
Could Stellar take the no.2 title away from Ethereum? Some cryptocurrency experts foresee great developments from Stellar, which had a whopping increase of 41,900% in 2017 and is slowly climbing its way up the list of top cryptocurrencies.
Konstantin Richter, CEO of Blockdaemon CEO has suggested that the Stellar blockchain could be integrated soon, the platform’s founder strongly hinting about favorable prospects for the cryptocurrency. Stellar and Blockdaemon have already announced that they plan on working together.
“I cannot say enough good things about Stellar,” said Richter. “Besides their amazing technical performance, we love that they give back 95% of gains to the community.” Stellar is currently making some important connections, having recently declared that it will enter a collaboration with IBM to enable real-world transactions by using crypto chips.
Blockdaemon also obtained a noteworthy investment from Comcast, an established communication company, which wants to forward its concept of blockchain as a service technology. Stellar has a high compatibility with this node support platform.
“Stellar is important for us,” Richter concludes. “We believe the Stellar ecosystem will be the Ethereum of this year.”
Stellars’s future really looks like there will be some promising prospects in store. While many cryptocurrencies were affected badly by the crash at the beginning of 2018, Stellar’s rise continued, experiencing a growth of 5.26%. This led to a significant rise in its market cap, reaching around $7.5 billion: still pretty far away from Ethereum’s $68.07 billion, but this rise is remarkable nonetheless. While being a cryptocurrency, Stellar is also an open-source system that can be used for processing monetary transactions.
Jed McCaleb, the founder of the cryptocurrency, disclosed to conference delegates last year that 30 banks already agreed to employ Stellar for their cross-border transfers. Stellar, and similar cryptos such as Ripple, could take the place of wire transfers in the future and drastically minimize the time needed for long distance transactions. This potential is what makes Stellar an important cryptocurrency that investors should keep their eye on. Mainstream financial institutions are very interested in it, and may well continue investing and contributing to the growth of the currency’s value in the process.