What is Stellar?

What is Stellar? Stellar is an open-source network, which essentially means that any Steller user can access its systems and influence workings. It accepts all kinds of money, privileges no one, and supports people to create, send, and trade all kinds of currencies. Steller like all the other famous cryptocurrencies runs across a decentralized network, built on a blockchain that keeps the network synchronized.

Stellar Blockchain boosts the efficiency of the network, decreases the cost, saves time, and also enables the network to perform cross-border transactions adequately. Though in its nature it is much similar to that of Bitcoin and Ethereum practically it’s quite different from them as it portrays its self essentially as a payment and not as a cryptocurrency.

Previously it operated on protocol 13 but on the 23rd of November Stellar development fund upgraded the network and now Stellar is operating on protocol 15, which is relatively more suitable and efficient.

Stellar is also famous for its unique consensus protocol which is the first of its kind. The stellar consensus protocol is the first practical implementation of the FBA (Federated Byzantine Network) protocol idealized by Professor David Mazieres in 2015.

One more thing that makes Stellar unique among its peers is its vision to enhance and revolutionize the crypto market. rent financial system. In other words, it is here to support the existing financial system and not to challenge it.

Fundamentally it is designed to bridge the gaps between the different financial institutes and Its main objective is to create a synchronized environment for all kinds of financial networks. Stellar XLM Brief History Jed McCaleb is the mind behind the innovation of Stellar.

he is one of the major contributors to the crypto market, the market we see today owes plenty to Jed him. He is also the co-founder of Ripple, and on the negative side, he is the same man who invented the infamous crypto exchange Mt. Gox (which at one point was the biggest crypto exchange in the world and held more than 70% of Bitcoin) that was declared Bankrupt by Tokyo District Court in April 2014.

What is Stellar?

Jed McCaleb collaborated with the lawyer Joyce Kim and launched Stellar in 2014. Later Stellar partnered with Stripe CEO Patrick Collison and they together found Stellar foundation, a not-for-profit organization to support the development and adoption of Stellar Lumens payment network. Initially, Stripe also supported Stellar by investing $3 million in seed funding.Stellar’s XLM unlike Bitcoin or Ethereum nor can be mined neither can be awarded by the protocol.

The fixed number of Stellar XLMs were produced when for the first time it went live.Initially, 100 billion XLMs were produced and the number was planned to increase by 1% each year but later the Stellar community voted to curb the XLM supply by 50%, in Oct 2019, as the result of which we now have 50 billion XLMs, Out of which 20 billion are traded, bought and utilized by the Stellar users and remaining 30 billion are held by Stellar foundation to support and promote Stellar adoption as a payment network.

Cardano Price Prediction 2021-2025 | Will ADA Ever Reach $10? Dogecoin Price Prediction 2021-2025 | Can DOGE ever hit $1?Stellar (XLM) All-time price historyFor years after its launch Stellar never really achieved any significant feet but in Dec 2017.

It surpassed the $0.10 price level in the first week of Dec. Then in the first few days of Jan 2018 it crossed the $0.50 price level and in the same week, Stellar reached the all-time-high of $0.93 (at that point it also hit the peak on the BTC/XLM trading pair and reached 6,300 satoshis-smallest unit of BTC).

But it failed to maintain that price level for long, as within the next three weeks it lost roughly 70% of its value then for months Stellar continued stumbling on the different price levels and during mid-Dec 2018 its price dipped down to less than $0.10 price level and continued on an average price of roughly $0.07 for months until the tail of Nov 2020 and from then on Stellar had been trading at an average price level of $0.15.

The ongoing month of January 2021 is proving to be an extremely lucrative month for Stellar as its value has gone up by roughly 60% in the last few days, just today Stellar has also hit the 2 years high of $0.41, this recent price hike has once again placed the Stellar in the top 10 list of words biggest cryptocurrencies.

XLM Recent Price Hike Stellar Price Prediction Stellar Price Prediction Stellar is now the world’s 9th largest cryptocurrency, one of the best performing coins among its peers, and has grown by more than 160% during the last week, with a market cap of $7,533,322,623. Now let us see what famous forecast agencies have predicted about it?

Stellar Price Prediction by Long Forecast Forecast agency, Long Forecast has done the most comprehensive prediction about steller’s price Their predictions are lower side as compared to the current market situation.

Stellar XLM Price Prediction 2021As per the projections made by longforecast agency Stellar will trade somewhere between $0.40 – $0.66 in April 2021, during August 2021, it will trade around $0.70 – $0.80, and during December 2021 Stellar will trade somewhere in between $0.75 – $0.96.Stellar XLM Price Prediction For 2022-2023They are predicting stellar of staying somewhere between $0.60 – $0.70 during 2022.

However, its value will dip down a bit during August 2022 as Stellar is projected to trade between $0.50 – $0.55 in the meantime, and at the years end there would not be any significant change in its value and the coin will continue to trade between $0.60 – $0.70. In the first quarter of 2023 Stellar is projected to between $0.72 to $0.80, and will be valued somewhere between $1 – $1.50 at the end of the year.

Stellar Price Prediction 2024-2025Stellar (XLM) prediction of 5 years, form now, seems rough as the Cryptos are volatile and we cannot make any certain decision of will they react in the next minutes. But, XLM should have taken off by the end of 2025. The price will be roughly $5.

This means that the current price has risen by more than 600 percent.Stellar Price Prediction by Captian altcoin Though they are projecting a short-term increase in the value of Steller during the year 2021 as they are suggesting that it will be trading below $0.50 during the year.

According to the projections they have made, the Altcoin Stellar can certainly be a thing, given the stable market environment that can cause it to possibly cross the $5 price level, during the period next 5 years.Stellar Price Prediction 2025 by Coinswitch According to Coinswitch, Stellar will be trading around $0.77 in the year 2021 and will certainly reach $5 by 2025.Stellar Price Prediction 2025 by Cryptoground Cryptogroud is projecting Stellar of reaching around $0.74 by the year 2025.

RippleCoinNews team disagrees with this price prediction.Stellar Price Prediction 2021Stellar Price Prediction 2021Our Stellar (XLM) Price Prediction After considering all the factors involved with Stellar price-variation, we are making the following predictions about XLM: During the year 2021, its value will stay somewhat between $0.40 – $0.60,

in the year 2022 it can go upside and is projected to trade between $0.60 – $0.65, continuing its growth it can probably cross $1 and can be traded in between $1 – $1.40 in the year 2023.Further during the year 2024 Stellar will continue its journey towards $2 and in the meantime, it will stay somewhere between $2.45 – $2.70 and if everything goes smoothly and skepticism of the market towards the cryptocurrency continues to deplete it will end up crossing the value of $5 as it ends the year 2025.

CONCLUSION

Stellar with its huge potential, can go up in quick succession. Given the market, the environment remains steady and Bitcoin continues performing smoothly which certainly affects all the growing altcoins. Moreover, if Stellar continued working in the right direction it is not improbable that it will become one of the top five coins in the digital market and reach $5 way early than expected

About the Publisher

Leave a Reply

Your email address will not be published. Required fields are marked *

Recommended Articles!