Payments Blockchain Stellar Hits Milestone

Stellar, the open source, community-owned cross-asset payment framework has achieved the milestone of 1,000,000 accounts on its network. This was revealed in a tweet posted by OrbitLens posted on Monday, August 27.

Initially modelled and based and Ripple, Stellar has the goal of disrupting finance in three different ways simultaneously. It offers cross-asset transfer of value similar to that of Ethereum, which enables it host ICOs, although it supports a lower number of software types. The ability to facilitate exchanges between fiat and crypto makes it one of the very few options for ICOs alongside Ethereum.

Unlike Ethereum, Stellar offers extremely low fees for all transactions (0.00001 lumens) and it offers transaction speeds that are comparable to that of Ripple, making it one of the fastest payment systems in existence.

Stellar thus competes favorably against Ethereum, Bitcoin and Ripple, offering a superfast cryptocurrency-based payment system and a cross-asset transfer framework all in one package. For many investors, this nexus of functionality has made Stellar’s Lumens cryptocurrency one of the most exciting crypto assets to invest in.

Unlike Ripple, Stellar’s platform is completely open-source and decentralized, leaving only – Stellar’s supporting organisation – as a centralized entity in the entire Stellar ecosystem. The market has rewarded this mix of both centralized and decentralized worlds, with Stellar experiencing steady growth from $0.003 at its launch on August 5, 2014, to $0.22 on August 28, 2018.