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Is Stellar (XLM) Destined For A Top 3 Finish With IBM News?

So what would it take for Stellar (XLM) to make it to the top three in the markets? Well, for starters, its market cap has to exceed that of the current number 3 holder, Ripple (XRP) which stands at $20,194,391,911 at the moment of writing this. This means the price of Stellar would have to rise to around $1.09. This would not be an impossible task, for the coin known as Stellar (XLM) had reached levels of $0.91 on January 4th. This value is only $0.18 shy of what is needed to dethrone Ripple in the markets.

So what would cause a rise of Stellar (XLM) to $1.09?

Firstly, the recent news that IBM has been meeting with executives from large corporations, commodities trading platforms and global central banks in an attempt to find ways of saving money through the use of cryptocurrencies and blockchain technology. Of concern, is the use of the Stellar platform after a partnership between IBM and Stellar that was announced last October. The partnership guarantees the use of Stellar to settle almost instant cross-border payments by digitally connecting fiat currencies on both ends of the transaction. Stellar now becomes a sort of bridge that was earlier occupied by Swift.

With talks of several global Central banks considering issuing their own digital cryptocurrency and given that many of these banks use IBM products and services in their backend, it is only natural to assume that the new crypto by these Central banks will be on the Stellar blockchain. This blockchain has the ability of issuing its own tokens and smart contracts which are less flexible than the popular Ethereum smart contracts, and with limits: qualities that Central Banks would love due to the added control of transactions.

Stellar smart contracts are expressed as compositions of transactions that are connected and executed using various constraints implemented by the coder. The constraints include: multisignature, batching/atomicity, sequence and time bounds. These constraints would be ideal for central bank issued cryptocurrencies.

Price analysis puts Stellar (XLM) as attempting to bounce off the downward trend line as the rest of the market is still bearish. What is advised is going long on XLM as implementation of the Stellar platform continues to grow with IBM and as they continue talks with 20 global Central Banks. IBM is in itself running 9 Stellar nodes to confirm transactions in locations around the world.

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Bitcoin Hard Fork Segwit2x Closing-In: Coinbase Supports Both Blockchains

The San Francisco-based trading platform – Coinbase, has just declared an update relating to the SegWit2x Hard Fork. The platform and Wallet provider follows Bitfinex announcement  of its plans for the could-be split.

The provider of more than 36 million wallets to BTC users and traders has showcased its plans for the Segregated Witness 2X fork. The trading platform states that is letting users and costumers know that their main target is to ensure safety and trust within the ecosystem. On top of that, it highlights that there is no action needed to be taken by users:

“Bitcoin can be securely stored on Coinbase before, during, and after the fork. Customers with bitcoin balances stored on Coinbase at the time of the fork will have access to bitcoin on both blockchains,” explains the exchange. After the fork, we will enable access when we have determined each blockchain is secure and stable. We expect this to happen within a few days after the fork, but it may take longer if additional risks emerge.”

Dan Romero – the firm executive, described how the company is still working in the process of Bitcoin Cash [BCH] withdrawals. The platform stated also that it is researching: “engineering and security requirements for each bitcoin blockchain.”

However, this announced did not answer what everybody was questioning – How will each fork be named – as which fork has the right to be called Bitcoin. Moreover, the declared information is quite different from what its initial plans were to not support the previous HF – Bitcoin cash BCH. Now, the firm is stating that access will be allowed to the new blockchain and users do not have to withdraw their coins.

Community members are curious about the decisions made by companies like Coinbase and as these firms have a lot of users within the bitcoin ecosystem. Coinbase does intend to tell the public how it will deal with the naming the two forks, as the company reveals it will be releasing this information in the near future.

“In the coming weeks — nearer to the date of the fork — we will provide a more detailed plan for how Coinbase will approach naming the two Bitcoin blockchains.”

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Here Comes Ethereum: Byzantium Upgrade More Promising than Ever

On Oct 6, a final schedule meeting was held by Ethereum’s core developers before the Upgrade – expected on October 16, will be taking place on the second-largest by market capitalization blockchain network.

The assembling was held at 14:00 UCT via Google Hangouts, in which it was discussed that all ethereum users and clients will be taking the right steps of upgrade for their software in unison so any unwanted splits will be missed. The clients have to take the necessary steps and changes that go-with the upgrade names as Byzantium and on top of it the trigger at block 4,370,000 which is the ‘green card’ for changing position to the new code.

Once complete, the hard fork will introduce improvements to ethereum, such as making the network faster with fewer data constraints. Additionally, Byzantium – which constitutes the first of two releases in the wider Metropolis upgrade – will ramify security measures and implement new variables that might pave the way for enhanced privacy on the network.

But while past upgrades have proven more complicated, according to today’s discussion, developers expect clients that have yet to release an update expect to do so by next week. Already, the network’s most popular client, Go Ethereum (Geth) has published its release.

Further, though the deadline might seem to mark a challenge for client developers, the core development team believes the later release will favor the upgrade by keeping it top of mind.

Even that it all sounds breezy there were some missteps along the way. There are cases that client developers had forgotten to exam their software against the lower mining difficulty marks which will be showcased in the Byzantium upgrade.

However, despite the fact there are no planned meeting until the upgrade, the developers left doors open for conversation:

Meeting chairman Hudson Jameson stated

“We’ll talk at the hard fork if something goes wrong, otherwise, we’ll talk on the 20th.”

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Ethereum Taking Over: South Korea Running the Show

The growing number of active development, domestic projects and communities, the second largest Ethereum market – South Korea is turning into a supportive power-backbone for the complete network.

Going in a timeline row, first on Sep 21 South Korea took the second place in Bitcoin trading volume replacing (as expected) China.

This week, the largest in history Ethereum meetup ever held was taking event in Seoul with speakers from Casper, Plasma and OmiseGo. It sold 1,000 reservations and 800 on the waiting list, which resulted with the first Ethereum gathering including over a thousand attendees. Very respected and well-known figures like Vitalik Buterin, Ethereum Foundation researcher Karl Floersch and OmiseGO managing director Vansa Chatikavanj attended the event as speakers.

Potential ICO Ban

Yesterday, South Korean officials and regulators of the Financial Services Commission declared out plans to band domestic ICOs (Initial Coin Offerings). Keeping in mind that the particular branch of the ‘ethereum industry’ is a majority in the market, from panic many sold Ether which put pressure on the value and it started declining.

However, on a quick note the recovery on the second session brought the pair ETH/USD above $300 as per today with 3.00% gain on the last 24-hours. Even that the SK part of the global-scale market dropped from 33 to 32 percent, the South Korean still had the second place safe for them.

The majority of traders in the South Korean Ethereum market are speculative investors and tend to be largely influenced by any movement in the industry that could lead to a decline in Ethereum price. However, a fairly large portion of investors are avid supporters of Ethereum as a technology and an infrastructure for decentralized applications.

One significant factor that will play a role on the market capitalization and price of Ethereum and its technology, is the performance of decentralized applications that will be evolving in the upcoming years. This was supported by the co-founder Vitalik Buterin in an interview with JoongAng – finance news outlet in South Korea. Buterin did note out that it might take 2-5 years for the Network (ethereums) to scale to a point in which the above mentioned applications could be sustained and launched with millions of users.

There are many multi-billion dollar conglomerates and financial institutions in the Ethereum industry developing decentralized applications and platforms on top of the Ethereum protocol. The emergence of efficient and innovative scaling solutions will create a better environment for decentralized applications and will allow highly anticipated projects such as decentralized cryptocurrency exchanges and marketplaces to evolve.

This kind of mindset and support (community enthusiasm) about Ethereum in South Korea, could lead the country to become a major factor on the impact the blockchain could have. As Buterin noted in the interview with JoongAng in the upcoming years, applications of Ethereum in a variety of industries will be tested and implemented.

“I would say that Ethereum’s main benefits are in its generality and in its utility to many kinds of industries. There are applications in finance, identity, supply chain tracking, health care, energy and many other areas. This is a result of Ethereum deliberately being designed as a general-purpose programming platform.”

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