Advertisement
AD

Main navigation

Stellar (XLM) up 9% to Lead Altcoin Growth, Here's Reason

Advertisement
Wed, 28/06/2023 - 11:02
Stellar (XLM) up 9% to Lead Altcoin Growth, Here's Reason
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News
Contents
Advertisement

As the broader digital currency ecosystem makes an attempt to wriggle out of its bear zone, Stellar (XLM) has grown to become the apparent top performer relative to other altcoins. The cryptocurrency is changing hands at a spot price of $0.1027, up by 9.77% over the past 24 hours. Stellar's bullish momentum has gained steadily over the past week, joining the best performers with week-to-date (WTD) growth of 22.52%.

What's new on Stellar?

The push into a more scalable ecosystem remains one of its core focuses in the short term. As shared on Twitter by one of the protocol's core developers, Timer Weller, developers can now make use of the new overlay protocol that will allow Stellar to scale significantly and enable efficient Soroban smart contract invocations.

Stellar was developed in 2014 as an efficient peer-to-peer (P2P) decentralized payment network and, thus far, it has become one of the dominant protocols in this niche. Despite its strategic growth and integrations across the board, the need to scale remains one of the dynamic challenges for the protocol, as much as it is for most Layer 1 blockchain networks.

Per the reference update from the Stellar protocol, the scalability push hinges on a proposed change to transaction submission.

Related
Stellar (XLM) Partner MoneyGram Obtains Major Award by Newsweek

Blockchain scalability: Need to get it right

Despite the revolutionary ideology of most blockchain protocols, the push toward scalability remains a crucial bane for most around, including Ethereum (ETH) and Cardano (ADA).

Over the years, both protocols have made significant efforts to enhance scalability on their respective chains and has thus led to the emergence of Layer 2 scaling solutions like Arbitrum, Polygon zkEVM and Optimism, among others.

Cardano is developing the Hydra head, which will work in an offline mode to boost the transactions per second (TPS) such as has never been recorded in the industry. Getting scalability right is a prerequisite for blockchain systems to beat traditional financial service providers in the long term.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Fidelity Surpasses BlackRock and Other ETFs by Daily Bitcoin Inflows Today
Cardano Praised by Dan Gambardello As Strong Chain While Avalanche Hit By Outage
Shiba Budz (BUDZ) Novel Meme Coin Pre-Sale Gaining Steam in Late February as Majors Dogecoin (DOGE), Shiba Inu (SHIB) Remain in Tops
Ripple Cofounder Celebrates Major Stellar Success, Polkadot Secures Spot on Coinbase Futures, Shiba Inu Burn Rate Surges 8,511%: Crypto News Digest by U.Today
Ethereum Dencun Upgrade Date Confirmed by Devs
Millions of XRP Shifted by Whales as Price Hits Key Support
Binance Web3 Wallet Announces Massive Crypto Giveaway to Celebrate ERC-404 Integration
Legendary Trader John Bollinger Issues Bullish Wake-Up Call as Bitcoin Price Turns Red
Spot Bitcoin ETFs Break Record With $50 Billion Trading Volume
Ethereum (ETH) Price Prediction for February 23
Solana (SOL) Price Prediction for February 23
BlockDAG Network (BDAG) Pre-Sale Might be Gaining Steam in February since Retik Finance (RETIK), and eTuk Tuk (ETUKTUK) Communities Show Interest
Shiba Inu Developer Excites SHIB Community With Tweet, What It Pertains To
SHIB Army Receives Crucial Warning From Shiba Inu Team
MetaClip (MCLP) Cryptocurrency Sale Campaign Invites Investors as XRP Price Growing
DeeStream (DST) Asset Release Campaign On-Boards Investors as Blur (BLUR), Cosmos (ATOM) Keep Surging
XRP Makes Crucial Price Move, But Massive Roadblock Is Ahead
DeeStream (DST) Crypto Coin Sale Campaign Might be in Spotlight since Shiba Inu (SHIB), Polkadot (DOT) Supporters Waiting for Upgrades
Cardano Founder Hails Elon Musk's X for Crushing ECB's Bitcoin Diss
First ERC404 Token Pandora Shows Explosive Performance as Whales Turn to Buying
Our social media
There's a lot to see there, too

Popular articles