HomeNewsCryptocurrencyStellar News #1: Workshops, Lightnet, Decentralization, 2020 Outlook, Network Growth

Stellar News #1: Workshops, Lightnet, Decentralization, 2020 Outlook, Network Growth

There are numerous cryptocurrency and digital asset ecosystems to take note of. Stellar is not a competitor to bitcoin or ethereum, albeit it is certainly home to plenty of ecosystem activity.

In the past week, several key developments have taken place. They will all help the Stellar ecosystem grow over time, yet they may not impact the XLM price directly. 

Ongoing Stellar Workshops

One way of spreading the word about this ecosystem is by engaging audiences around the world. Blue Orion is doing an excellent job in this regard. Their focus lies with running workshops and seminars to spread the word about Stellar.

This approach will help the team to provide real value for all participants. While creating a viral effect will not happen overnight, the company appears to be on the right track. This is a company that deserves more attention and support from the community.

The Lightnet Funding Round

For companies and startups trying to disrupt the financial sector, building on Stellar’s technology makes a lot of sense. Lightnet, one of the companies pursuing this option, made some big headlines this week. It raised over $ 31 million in Series A funding.

With the money, Lightnet can tackle the global remittance market. Its starting point will be in Southeast Asia. That region is home to plenty of money transfer streams, yet also inefficient systems. It will be interesting to keep an eye on this company’s progress.

Further Decentralization

Ecosystems such as Stellar’s are often criticized for being too centralized. In reality, this network is becoming more decentralized every quarter. An example of this progress comes in the form of Stellar.Expert. 

The team has launched two extra validator nodes to help the network. Moreover, this helps contribute to the ongoing decentralization of the ecosystem.Users can add these servers to their quorum set. All nodes will remain operational around the clock.

Looking to the Future

The start of a new decade also means plenty of new opportunities to be explored. The Stellar team has shared their look forward for 2020 and beyond.  There is a lot of work to be done. No industry can afford to stand still in this modern era.

There is also a look back at 2019. The SDF has noted a significant growth in team members, which is a positive sign. There are also more network accounts than ever before. Combined with 2 major protocol upgrades, the year 2019 has been very positive overall. 

Prominent Network Growth

According to CoinMetrics, Stellar is growing rather nicely. There is a hefty increase in the number of network transactions over the past few months. Utilization of the network is crucial to sustain any growth in this competitive industry.

Fintoism Stellar Stats 1601

The charts also reflect the ongoing growth in active network addresses. While there are peaks and lows, the overall trend appears very promising overall. Ensuring further growth of the network and ecosystem will remain an ongoing challenge for all parties involved. 

JP Buntinx
JP Buntinx
JP Buntinx is passionate about cryptocurrencies, fintech, blockchain, and finance. He currently resides in Belgium.
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