Stellar (XLM) is designed to give the user a seamless, fast and cheap payment system combined with a decentralized exchange, SDEX. Stellar is currently ranked at position 8 on the Coinmarketcap market capitalization ranking. The coin’s price is currently at $0.207 with a total of 18.5 billion XLM currently in circulation with a total market capitalization of $3,858,000,000 USD.
This comes in a period the whole market in general has been on the green since the week began. The development and introduction of the decentralized exchange last year in October caused the coin to triple in price within a day causing a stir in the cryptocurrency field. The SDEX has now gained a great foothold in the field as the continue adding currencies after Mobius, the first coin on the platform.
Stellar Decentralized Exchange
The Stellar Decentralized Exchange (SDEX) is the first item on the development team’s roadmap for 2018. The SDEX has been one of the major points of sale interchanging with its fast payment system. The exchange offers quick transactions, low fees and a scalable platform for ICOs to launch. The quick and cheaper service is a relief to any of investor and user on the platform.
- The exchange is decentralized.
The current cryptocurrency exchanges are centralized hence it easy for regulation to be put in place on any of these exchanges. In such a case, your funds can be tracked and sometimes blocked from access. However, with the decentralized exchange- SDEX is one of the best in the market- it is impossible for regulation to take place as servers are located on different locations around the world.
The SDEX also provides prevention from hacking or compromise of the exchange as a whole. Decentralized exchanges have servers around the world. Even if the hackers are able to cause malice on one or two servers the rest will continue to function properly. This increases the security of your account even more.
- The exchange is fast, secure and scalable
As explained in the section above, the decentralized nature of the exchange makes it secure. Notwithstanding, the exchange is created on a blockchain making transactions immutable and out rightly secure and cryptographic. Stellar DEX is the fasted exchange at the moment with a transaction time of 5 seconds, unmatchable.
While all these cool qualities make one wonder why the coin has not yet hit the $1 mark, the scalability feature only serves to reinforce that doubt. The platform offers a blockchain where developers can create their own dApp easily and even launch an ICO. The recent nomadic movement from Ethereum to Stellar gives a clear picture. Most blame the pioneer of smart contracting, Ethereum, as being relatively slow and inhibits the scaling of these decentralized applications.
- Growing platform
The SDEX platform was just created less than a year ago and it already supports over 10 cryptocurrencies and fiat currencies on the platform. The exchange is currently supporting Bitcoin, Ethereum, Litecoin and fiat currencies such as US Dollar, Korean Won, Japanese Yen and Chinese Yuan. The marketing team vowed to increase their resources to making the platform well adopted and it may well be the key to Stellar’s success.