Bitcoin Global News (BGN)
August 02, 2018 -- ADVFN Crypto NewsWire -- Since most of the
Crypto industry has been losing ground over the entirety of this
year, how is the Stellar network defying the odds?
Certain industry insiders claim
that the true reason for this is the number of ICOs that have
chosen Stellar over others like Ethereum, which is a claim that
bears further examination.
As of today, in what some might
consider to be a strange turn of events, Stellar has even outpaced
Litecoin, whose constant hold in or around the top 5
Cryptocurrencies on the market has
been slipping.
At the close of July, Stellar had
achieved a total monthly gain of 40%.
While ICOs that took place on the
Stellar network do not seem to have been as heavily publicized as
those that have continuously taken place on the Ethereum network,
certain examples like Kik serve to suggest just where Stellar’s
differentiator might lie.
The Kik network, which is a
well-known messaging service that is somewhat on par with WhatsApp,
began by running its ICO on the Ethereum Blockchain last
year.
In March of this year, however,
Kik announced that it would be shifting its kin token’s structure so that it could be
supported on the Ethereum chain as well as the Stellar chain, at
the same time.
Just two months later,
they flipped the script and
decided that both networks had too high fees to be viable
supporters for their product, instead deciding to fork the Stellar
network and create their own native chain.
To review, in this
context, to fork a Blockchain is to
take a snapshot of at a certain point in time, change a few of its
unique features, and launch it again as an entirely new
network.
At around the same time, Kik
officials were quoted as comparing Ethereum to the earliest version
of the internet, in terms of it being a viable platform to support
ICOs. Despite this critique, the fact that they choose to break off
from Stellar does not exactly speak volumes in terms of their
stance on either network.
With Kik’s example in mind, it
might be best to avoid allocating new resources towards Stellar at
this time, at least until the dust clears as to whether their value
jumping is mere speculation or something else entirely.
By: BGN Editorial Staff
News:
Stellar Lumen
(XLM)
Cryptocurrency
Ethereum
(ETH)
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