The price of Stellar Lumens will double after the public network update starts

The price of Stellar Lumens (XLM) rose 60% in the past 24 hours, topping the $ 0.2 mark for the first time since September 2018. The price campaign for “Stellar” came after an announcement by the project developer that The validators had launched a new version of the Stellar protocol for public networks.

The Protocol 15 update went into effect on November 23 at 4:00 p.m. UTC Introduces two new features aimed at reducing the complexity presented to users of applications and services based on the Stellar network.

Price action for Stellar Lumens was relatively subdued over the past year until November 21, when trading volume began to rise. XLM has doubled in price in the past 48 hours and leads the top 100 currencies by market capitalization in weekly earnings, more than 125%. It is among a handful of coins currently topping the altcoin package in a highly anticipated “old season”.

The price of Stellar Lumens will double after the public network update starts
The price of Stellar Lumens will double after the public network update starts

First from the Ripple Labs protocol from forked Jed mccaleb and launched in July 2014, Stellar is trying to reduce the cost of cross-border payments using blockchain. The project focuses in particular on serve regions of the world that do not have banking serviceswhen access to traditional financial services does not exist or is unaffordable.

Includes Stellar Protocol 15 update two new components to improve the user experience while maintaining a defense against “farm attacks” and other methods where bad actors can attempt to undermine the purpose of the network. A farm attack occurs when an entity creates multiple accounts with the target Collect the small amounts sent to these accounts by service providers that are needed to activate the account.

According to the official Stellar blog The features of Protocol 15 have been in development for over a year and they address some of the “biggest problems” developers face when building customer applications and services on Stellar.

“After upgrading, developers will be able to create better, simpler user experiences that abstract the complexities of the blockchain without losing the benefits of a fast, cheap, and permissionless public ledger.”

Stellar just announced one too Partnership with the East African business-to-business payment platform provider ClickPesathat serves six countries in the region. According to the Stellar blog post, ClickPesa was motivated to use Stellar by realizing a “Ability to reduce friction in cross-border payments in Africa and in P2P payment activities”.

In October, Stellar announced that USDC stablecoin will be hosted on its blockchain network sometime in 2021Promote its mission to facilitate cross-border money transfers. Stellar Lumens’ extremely low transaction fees and processing times of 4 to 5 seconds are among the most important selling points as a cryptocurrency.

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