It is no longer a secret that Stellar Lumens (XLM) ambitions among crypto projects are coming true since the creation of Interstellar a few months ago. The coin is changing the way people interact with their digital assets. The outfit is keeping to its promise of transforming the existing financial systems and ushering in a new era in the industry.
Money movement across borders via existing banking channels and payment protocols is set to get a new outlook that is more efficient, quick, reliable and cheap. In a bid to turn their dream into reality, the Stellar.org through Interstellar have announced the release of a bidirectional settlement channels; Starlight that allows users to make private, instant and secure transactions freely.
Entry of Starlight to the Stellar (XLM) Ecosystem
The entry of Starlight into the Stellar system has positive implications not only to the current users but those in the banking and money remittance sectors as well. While breaking the great new on twitter, Interstellar has said:
Interstellar @go_ interstellar
“We’re excited to release Starlight: a demo implementation of payment channels on Stellar, and a step toward a Lightning-compatible payment channel network!”
10:08 PM – 25 Oct 2018
The news has also been made clear through the Medium blog and this might be a huge milestone for the fast growing platform in terms of expansion and demand. The Starlight payment channels will make it better for the user as per the official blog.
“Normally, making a payment on a network like Stellar involves publishing details of the payment to all observers, paying a small fee, and waiting for the network to reach consensus and confirm the payment.”
“A payment channel, on the other hand, uses the network to “lock up” some funds for use by the channel’s participants. They may then pay each other these funds without further involving the network. Such payments are thus private, instant, and free.”
However, the Starlight is a demo release and bugs are expected before it is fully released into the market. To get familiar with the software, you can download it here. At the moment, Starlight only connects the Stellar test-net to protect users losing their assets to the software bugs. The Starlight payment channels come barely a month after the release of StellarX a free tool on the Stellar platform.
StellarX and what it means to your Trading
Just to quote the StellarX Blog:
So we’ve got this thing started. We’re methodically positioning StellarX to be the most popular place to trade in the world. We know it’s a big, dumb goal. But we think it’s achievable.”
We also, today, show tokens for Euros, Philippine Pesos, Nigerian Naira, Chinese Yuan, Hong Kong Dollar, and the British Pound, and we’ll add in-app deposits/withdrawals for these as soon as their issuers support our standards. We anticipate a full suite of forex stablecoins in the coming months: we will be a “local” exchange for many countries that currently have nothing.
Simply put, the StellarX is a free trading platform and any expenses; including network fees incurred while transacting are refunded to the user. Thee system gives you total control over your assets and simplifies how assets are moved throughout the globe.
Stellar (XLM) Route to Market Strategy
In other related news Stellar is set to be part of the upcoming Pioneer online game creation tournament with competitive prices. The Pioneer and Stellar working together is a clear indication of their intent to woo more adopters to grow the XLM user base. The tournament kicked off on October 19 and you can join the fun by applying from their official registration page.
While making the announcement, Pioneers has given a brief hint of the prices to expect:
Big news: winners of our upcoming October tournament will receive $6,000 in Stellar lumens (in addition to $5,000 in USD). It’s a cryptocurrency air-drop to the creative outsiders of the world.
With the great new streaming in, the XLM price is down by 0.58% against the dollar to trade at $0.23488 which is a general slip in the market with a major breakout anticipated towards the end of Q4. The outfit appears to be challenging its major comparators including Ripple’s XRP and is set to dominate the globe with better and affordable services.