• bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H
Crypto Currency Bazaar 4u: Today’s Latest Worldwide News on Cryptocurrency Market delivered to the last minute, Live Crypto Price Data and Indexes, Crypto Investment & Finance opportunities & Blockchain projects, Global Crypto Classifieds
  • INVESTMENTS
    • Crypto General
    • Masternodes
    • Mining Projects
    • NFTS Investments
    • Invest In ICO
    • Exchanges
    • Staking Yeild Farming
  • WORLD
  • USA
  • CANADA
  • JAPAN
  • UK
  • UAE
  • INDIA
  • MORE
    • BRAZIL
    • AUSTRALIA
    • EL SALVADOR
    • CENTRAL AMERCIA
    • SOUTH AMERICA
    • AFRICA
    • EUROPE
    • ASIA
    • OCEANIA
    • ICO
  • Login
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE
HealthNews
No Result
View All Result
Home USA

Footprint Analytics: Stellar aims for rebound in 2022

CB4U by CB4U
January 8, 2022
in USA
0
Footprint Analytics: Stellar aims for rebound in 2022
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

By [email protected] Analytics

Date: 8th January 2022

Data source: Stellar dashboard

Last month, the Stellar Development Foundation (SDF) participated in a cryptocurrency hearing hosted by the U.S. House Committee on Financial Services.

CEO Denelle Dixon presented the technology of the Stellar decentralized payment system and its applications. With the recent news that Ukraine and Mexico will be using Stellar to run their digital currencies, Stellar is once again in the spotlight.

What is Stellar

Launched in 2014, Stellar is a platform that supports cross-border transactions between currency pairs and aims to solve global payments problems through blockchain technology.

The global payments and settlement system are complicated with various fiat currencies and each country’s financial and regulatory systems.

Stellar aims to solve this problem by making transfers between different currencies efficient (within 5 seconds) and low cost (under 1 cent USD) through decentralized transaction validation.

The current status of Stellar

In its seven years of development, Stellar used to have an illustrious history.

It was once a top 10 blockchain project in terms of Market Cap. And even set a record for a 100x increase in token price before DeFi Summer.

Unlike projects in the crypto world, Stellar has built many partnerships with the traditional financial community, including IBM and national financial institutions.

Footprint Analytics - XLM Price
Footprint Analytics – XLM Price

However, according to Footprint Analytics, Stellar is currently growing slowly.

After years of growth, it has a TVL of around US$1.5 billion to date, ranking it 40th among public chains, and this rate is far less than that of the up-and-coming public chains that are just starting.

Footprint Analytics - Stellar TVL 
Footprint Analytics – Stellar TVL 

Stellar’s ecosystem is highly underdeveloped, with only two projects at present and very homogeneous.

Footprint Analytics -Protocols TVL in Stellar
Footprint Analytics -Protocols TVL in Stellar

Reasons for Stellar’s Slow Growth

Poor Ecosystem Incentives

At the time of Stellar’s creation, an inflation mechanism was set up to prevent a reduction in the circulation of XLM.

Each year the inflation scheme generates tokens equal to 1% of Stellar’s total supply and accounts for more than 0.05% of Stellar’s total share receiving additional XLM coins.

The purpose of the inflatable mechanism is to incentivize. However, analysis by Coinmetrics shows that 98% of the XLM incremental coins went to the SDF (Stellar Development Foundation) and did not benefit the Stellar project.

One reason for this is that the foundation has been involved since the early days and therefore can participate in the annual distribution of newly generated tokens.

The second reason is that most Stellar participants joined during the 2017 burst and are speculative users with little involvement in the ecosystem.

XLM inflation CoinMetrics
XLM inflation CoinMetrics

The Omission of SDF

The foundation holds a large number of tokens due to inflationary mechanisms. However, the foundation has failed to use these tokens to help the project function better. Crypto Slate analysts stated in 2019 that the foundation has only consumed $40,000 for community projects. Having a large amount of money but not using it well maps out the inaction of the foundation.

In 2019, the Stellar Development Foundation initially mitigated the token mismatch by ending its inflation plan and destroying more than 50% of its tokens. However, XLM still needs to expand its usage scenario.

The Road Ahead for Stellar

Although Stellar ended up lagging since its launch, it is set to make a comeback from 2021.

With the explosion of DeFi projects, multi-currency, cross-chain transfers are a current blockchain pain point, and Stellar offers one of the solutions that define a new standard for global payments.

Stellar has gained market recognition through expanded payment companies, national banks, financial institutions, and more, gaining recognition from multiple parties and several strong partners as a global solution for cross-border payments.

EVM Compatibility 

The incompatibility of Stellar contracts with EVM means that developers cannot quickly deploy projects on Ethereum to Stellar in February 2021.

FlareNetworks has announced the integration of Stellar Lumens (XLM) with its smart contract platform, thus enabling compatibility with the Ethereum blockchain. If successfully landed, Stellar will be even more scalable.

Summary

Stellar’s recent moves show that it continues to interface with the financial community and bridge the gap between traditional and on-chain payments.

We can keep an eye on Stellar and look forward to its continued development in solving global payments challenges.

What is Footprint Analytics?

Footprint Analytics is an all-in-one analysis platform to visualize blockchain data and discover insights. It cleans and integrates on-chain data so users of any experience level can quickly start researching tokens, projects and protocols. With over a thousand dashboard templates plus a drag-and-drop interface, anyone can build their own customized charts in minutes. Uncover blockchain data and invest smarter with Footprint.

Footprint Website:https://www.footprint.network/

Discord:https://discord.gg/3HYaR6USM7

Twitter: https://twitter.com/Footprint_DeFi

Youtube: https://www.youtube.com/channel/UCKwZbKyuhWveetGhZcNtSTg

Posted In: Stellar, Analysis

CryptoSlate Newsletter

Featuring a summary of the most important daily stories in the world of crypto, DeFi, NFTs and more.

Get an edge on the cryptoasset market

Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Advertisement Banner
Previous Post

Samsung Opens Flagship Metaverse Store In Decentraland

Next Post

Where to buy Sandbox, the most popular metaverse game

CB4U

CB4U

Next Post
Where to buy Sandbox, the most popular metaverse game

Where to buy Sandbox, the most popular metaverse game

Discussion about this post

RECOMMENDED

Highlights from Financial Service Committee hearing on stablecoins

Highlights from Financial Service Committee hearing on stablecoins

2 weeks ago
US Treasury publishes laundry lists of crypto risks for consumers, national security

US Treasury publishes laundry lists of crypto risks for consumers, national security

9 months ago

DON'T MISS

Bitcoin network hash rate hit a record high in May

Bitcoin network hash rate hit a record high in May

June 4, 2023
Bullish Pattern Sets $SOL Price Next Target to $24

Bullish Pattern Sets $SOL Price Next Target to $24

June 4, 2023
Crypto Live Trading || 3 JUNE || @thetraderoomsss  #bitcoin #ethereum #cryptotrading

Crypto Live Trading || 3 JUNE || @thetraderoomsss #bitcoin #ethereum #cryptotrading

June 4, 2023
The Recent Wave of Mysterious Deaths in Crypto

ONFO Coin Co-Founder and Crypto Advocate Found Dead in Arkansas: Report

June 4, 2023
Crypto Currency Bazaar 4u: Today’s Latest Worldwide News on Cryptocurrency Market delivered to the last minute, Live Crypto Price Data and Indexes, Crypto Investment & Finance opportunities & Blockchain projects, Global Crypto Classifieds

The Cryptocurrency Bazaar 4U was founded in 2020 for providing the most trusted information for the Crypto enthusiasts covering a broad range of news about blockchain technology, cryptocurrency assets, emerging fintech trends in the decentralized space, and other related wide array of information surrounding this emerging technology.Our team provides the most up-to-date and accurate news from different sources in this space comprising of unbiased news, in-depth analytics, detailed cryptocurrency price charts, and insightful opinion pieces is the basis of our editorial content.

POPULAR POSTS

Bitcoin network hash rate hit a record high in May

Bitcoin network hash rate hit a record high in May

June 4, 2023
Bullish Pattern Sets $SOL Price Next Target to $24

Bullish Pattern Sets $SOL Price Next Target to $24

June 4, 2023
Crypto Live Trading || 3 JUNE || @thetraderoomsss  #bitcoin #ethereum #cryptotrading

Crypto Live Trading || 3 JUNE || @thetraderoomsss #bitcoin #ethereum #cryptotrading

June 4, 2023

Categories

  • AFRICA
  • ALTCOIN
  • ASIA
  • AUSTRALIA
  • BITCOIN
  • BLOCKCHAIN
  • BRAZIL
  • CANADA
  • CENTRAL AMERCIA
  • CRYPTO GENERAL
  • EL SALVADOR
  • ETHEREUM
  • EUROPE
  • EXCHANGES
  • ICO
  • INDIA
  • INVERST IN ICO
  • INVESTMENTS
  • JAPAN
  • MASTERNODES
  • MINING
  • MINING PROJECTS
  • NFTS
  • NFTS INVESTMENTS
  • OCEANIA
  • SINGAPORE
  • SOUTH AMERICA
  • STAKING & YEILD FARMING
  • UAE
  • UK
  • Uncategorized
  • USA
  • VIDEOS
  • WORLD
  • CONTACT US
  • DISCLAIMER
  • PRIVACY POLICY
  • ABOUT US
  • CLASSIFIED
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

No Result
View All Result
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H