The Stellar network is setting its ground in the market with an ever-growing number of major partnerships. They have recently announced their adoption of Lightning network protocol into their technology.
Jed McCaleb, the co-founder of Stellar agrees to the fact that the blockchain project may suffer from scalability problems in the mere future. If all of its partners use the platform to their maximum capacity, the system can encounter lags and jams. Stellar is well prepared for such scenarios and has decided to adopt the Lightning Network Protocol. Bitcoin had a similar slowdown and traffic jam issues with so many partners before the adoption of the same technology protocol.
The Lightning project has a smart code base which helps circumvent the default limitations of old blockchain technology. This will help increase trade volumes exponentially and makes sure the traffic is not an issue.
Stellar Lumens [XLM] is trading with a net of almost $0.24 after a 6.69% increase in the last 24 hours. It is placed amongst the top 10 coins in the market. Such progressive growths will probably clear paths for XLM further above in the market, experts claim.
The integration of Lightning technology with their network is an early adoption to ensure the problems of scalability is eradicated even before it is established. It is easier to tackle an expected problem before it makes an impact on blockchain itself.
Kik, a messaging app recently dropped Ethereum because of the same issue and instead decided to build their trades on the Stellar platform. Stellar might not be ready to support this immediately but lightning could turntables. IBM also plans to use STR network for remote banking projects support. This is just another drain to the network in terms of resource usage which will be taken care by lightning.
This is how the lightning network works; they depend on the ability to build an extra layer for payment just above the parent blockchain. It has the potential to make transactions across blockchains. This allows any XLM holder to theoretically and directly trade for Bitcoin without the need for a third party exchange. This new form of liquidity was nowhere available in the market previously. This is also a result of smart contracts.
Stellar fans are absolutely rejoicing the news.
“It is time to go beyond the moon and do an Inter -“STELLAR”- Travel to another galaxy. STELLAR has a brilliant future. Wish you all the best guys!!!!!!”
Magna comments with her best wishes:
“I really hope you guys figure out how to utilize lightning with Stellar. I know you are already working hard on it. I just hope you actually figure it out!”
Adam Smith quoted:
“Love it, keep up the great work. I have believed in Stellar since the day I heard about it! Excited, we support any developments of Blockchain technology.”
AK, a cryptocurrency enthusiast says:
“Go stellar …light up the lightening network”
The Lightning Network is one of the most significant upgrades to blockchain functionality since the original release of the technology. Stellar is challenging other top cryptocurrencies, jockeying for a top slot by market cap.
Another Twitterati says:
“Excited. As a store value Crypto securities, we support any developments of Blockchain technology.”
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