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Stellar Lumens [XLM]’s 13% hike and updates on Kin Foundation – XLM in the right route?

Sthuthie Murthy



Stellar Lumens [XLM]'s 13% hike and updates on Kin Foundation - XLM in the right route?
Source: Pixabay

According to the earlier news about Kin Foundation partnering with Stellar, their ecosystem needed a more predictable blockchain regarding transaction confirmation time and fee where Stellar was the winner.

They put Stellar’s public blockchain network to a test with their experience and immense knowledge of over 9 years in engineering and scaling with their main aim: to see if Stellar actually stands up its performance claims.

The following metric was considered to accomplish the same:

  1. Median confirmation time: Consistency and time duration for consensus to reach the network for new ledgers
  2. Operation count: Number of transactions in each ledger
  3. Network responsiveness: Node response time to incoming operations and handling others simultaneously

As a summary, the test was to see if the Stellar network can handle processing a series of 10 transactions every second consistently over the duration.

The success rate of the 4 main load tests was nearly 100%. Even the failed ones succeeded after re-transmitting them.

Kin Foundation quoted:

“We had plenty of technical and design questions during the load testing process, and the Stellar team proved to be an amazing group to work with. They were quick to respond and very professional.”

During the same, the team also mentioned that there were minor bugs and performance issues with Horizon which resulted in higher response times than expected. This was notified to the development team who quickly turned to deal with it and fix it.

Stellar Lumens [XLM] has steadily increased in the market. XLM is trading at $0.21 after gaining 13% since yesterday and is worth a capital of $3.9 billion as seen from AMBCrypto’s price data.

Jacob Marley, a Stellar Enthusiast Tweeted:

“Awesome stuff guys, I can’t wait to see you excel this year. Keep up the good work, this sounds really exciting. Stellar is huge.”

Tony Stefany, a TRX trader wonders:

“I know that you will support both kin on both the Ethereum and Stellar blockchains but I’m curious if there will be any chance of a price gap at some point? Would it be smarter to go through the whole selling, transferring, rebuying process to turn my ERC20 Kin into XLM Kin?”

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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.