As the market begins showing strong signs of recovery, Stellar has announced the next big step for the project. The Stellar Development Foundation has revealed that it is currently in the final phases of preparing the release of their own decentralized trading platform (SDEX).
The Stellar Decentralized Exchange is rumored to be launched sometime next month. SDF has revealed that with the exchange launch, there will be changes to the core protocol of the Stellar network.
Stellar to Change Protocols for Buy and Sell Orders
The change in protocol would change the sell and buy orders of XLM tokens on every platform that trades Stellar. Currently, users of Stellar-based platforms can create multiple ‘shadow,’ which adds up to more than the wallet’s total holdings. The newly proposed protocols will allow users to buy or sell the exact amount that their wallet holds.
The new protocols will also introduce a new feature (liabilities). With this feature, inbound and outbound liabilities would be examined, keeping track of what an account is buying or selling, preventing the manipulation of this kind of order book. Stellar is also raising the stakes with the next announcement.
Stellar Could Be Ripple’s Rival
Since the introduction of xRapid and xCurrent, Ripple has reigned supreme as the leading payment solution. While Ripple comes out top with its payment solutions, the future could see Stellar become a stiff competitor for Ripple in the payment industry.
IBM (through a partnership with Stellar) has launched a project – IBM Blockchain World Wire with the aim of making it easier and cheaper for consumers and merchants in the South Pacific region. The IBM project is built using the Stellar Lumens (XLM) blockchain.
IBM announced the reason for leveraging the Stellar blockchain is because of the non-profit status of the project. Other reasons include the scalability of the network, its professional team, token ownership transparency of the network. In addition to this, Stellar has the ability to support any asset type.
Conventional movement of funds is very expensive, more often than not too, the process can be very difficult. The partnership will see both institutions work together to create a better system for the movement of funds. In this way, it would be possible to make it more fair and equitable for all.
Similar to the payment solutions of Ripple, the IBM Blockchain World Wire will create a method for customers and institutions to transfer money across the world with minimal transaction fees in very little amount of time.
Furthermore, like xCurrent and xRapid, the IBM World Wire Stellar Lumens (XLM) will be the native currency used on the platform. This is an interesting development for Stellar, like Ripple, the IBM Blockchain World Wire could set Stellar up for major growth.
Market Performance of Stellar Lumens (XLM)
Majority of the crypto market is undergoing recovery, including Stellar Lumens (XLM). Over the last 24 hours, XLM has hiked by 9.01 percent. The hike now means XLM is trading at $0.152071.
Stellar now has a market capitalization of $2.94 billion which makes it the 5th most valuable cryptocurrency. Over the last 24 hours, XLM worth $95 million has been traded.