New cryptocurrency to take on Bitcoin and FIAT

2 Payment and Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term executives have come together to offer a new decentralized payment system with its own cryptocurrency included called Stellar.

Jed McCaleb co-founder of Ripple and now defunct BTC exchange MtGox has partnered with Stripe CEO Patrick Collison to form the “Stellar Development Foundation”. Stellar acts as its competition, Bitcoin, by offering P2P transfers on a decentralized payment network. A major difference is the network allows for transfers of digital and traditional currencies and will be converted to Stellar and vice versa in real-time. Supported currencies include USD, euros, pesos, and even Bitcoins.

This means at points the cryptocurrency acts as vehicle for traditional funds. Also, with the convenience of transferring back and forth from Stellar to FIAT offers a more easy-to-access native experience.

Stellar received $3 million in funding from Collison’s firm Stripe. The open source based protocol currency will be based on gateway institutions to run a decentralized network of computers to effectively manage and validate a public record of transactions.

Unlike other virtual currencies like Bitcoin and Litecoin, Stellar will not cater to miners. Distribution will begin with 100 billion Stellar being made available and having 95% being rolled out to users, for nothing in return.

Stellar distribution will be done as follows: -50% distributed to people who sign up for an account -25% distributed by other non-profits -20% given to current Bitcoin and Ripple holders *The remaining 5% will be given to early adopters in the charity and non-profit sector.

According to Executive Director of the Stellar Development Foundation Ms. Joyce Kim, the main idea behind Stellar is to offer a digital currency free of charge to help boost adoption. By free distribution, Stellar has overcome the 2 primary obstacles for Bitcoin adopters to overcome, high exchange rate due to currency Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and the expense of mining which offers little ROI.

Do you think Stellar has a chance against long stays in the field like Bitcoin, or is it a little too little to late? Let us know in the comment section below.