Stellar (XLM) News Update – Stellar Lumens (XLM) may have had a rough time in the first quarter of the year, but that has been the story for most cryptocurrencies.
On the other hand, MobileCoin will use its funding to create a proper team and develop working processes at the same time as its product is being developed. For MobileCoin, the enclaves in all of the nodes of the network hide the currency’s indelible ledger from view. They chose Stellar simply because they believe it offers them the speed and scalability potential to meet the potential of mobile coin large scale adoption. There are some features of the Stellar Lumens network that gives the coin an advantage over other currencies.
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- Mobile Coin has announced to adopt the Stellar Consensus protocol in creating their network.
- The team claimed this will help them to achieve high transaction speeds and scalability.
Stellar Lumens is one of the highest potential cryptos in the market today.
But crucially MobileCoin is designed so the node operators can never directly access users’ private keys. The currency Marlinspike has been working on as technical advisor for the last four months, alongside technologist Joshua Goldbard, is MobileCoin. Bitfinex announced that it is adding Stellar Lumens to its exchange platform. MobileCoin will use Stellar consensus protocol for speed and will be integrated into messaging platforms once it is ready.
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There are lots of potential for Stellar Lumens with regards to this integration.
While most currencies were trading below the red line, Stellar Lumens rose to $0.46. Moxie Marlinspike, the founder of end-to-end encryption messaging app Signal and Open Whisper Systems, joined MobileCoin as a tech advisor in August, 2017, according to Wired. Current Performance of Stellar Lumens People have always compared Stellar Lumens and Ripple because Stellar Lumens founder founded the coin on the protocol of Ripple. The platform is a decentralized network that supports assets added by Stellar Lumens users.
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“A mobile-first, user-friendly cryptocurrency, like MobileCoin, plays a critical role in driving mainstream cryptocurrency adoption,” Binance Labs said of the deal.
In short, MobileCoin is made in a way that messaging apps can integrate with the coin’s wallet. However, what’s getting everyone excited is the announcement by the Mobile Coin team that they will be using the Stellar Consensus protocol in creating their network. The Stellar platform was in the center of attention regarding the news of the MobileCoin ICO, which recently increased to $30 million. So why is it such a big deal that it will be using the Stellar Consensus Protocol?
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MobileCoin will be based on the federated Stellar Consensus Protocol (SCP), enabling transactions to process in less than a second.
Source link Signal’s cryptocurrency named MobileCoin decided to raise $30 million for a new project involving mobile payments. MobileCoin just announced that they’ve raised $30 Million with Binance leading the round. While MobileCoin has the power of Marlinspike’s support, the talent, and funding, the project is still in its early days. The news about MobileCoin’s integration has brought massive attention to Stellar Lumens.
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This will make the volume of Stellar Lumens to rise and its intrinsic value will dart up the sky.
The project was built over the Stellar network, and has confidentiality as its chief aim. Hitherto, the KIN blockchain project and the KIN Foundation have not allocated any details which will show the migration to the Stellar network. The mobile coin team could have chosen any other blockchain, but they choose Stellar! There are lots of potential applications for MobileCoin, but Goldbard and Marlinspike envision it first as an integration in chat apps like Signal or WhatsApp. Mobile coin is backed by Binance labs, which means that it will be listed on Binance, one of the world’s largest crypto exchanges in the world. Although Stellar Lumens is a fork of Ripple, the two coins are different.