- Stellar’s quarterly reports indicate a remarkable growth rate
- The network posted a continued growth of 5.5 seconds
- Stellar recorded several tech partnerships in the last quarter
Stellar Lumens News Today – the Stellar Development Foundation recently published its quarterly report for the year on the current developments in the network. According to the report, the community and cooperation partners have all contributed hugely to the significant growth of the Stellar ecosystem. Stellar has improved in transaction volume and usage as well when compared to what was attained in the last quarter of 2019.
Confirmation of High Scalability and Faster Transaction Speed
The total number of registered Stellar user accounts has slightly dropped. The figure has decreased from 4,614,261 (in Q 4 of last year) to 4,531,632 in this quarter. This change indicates a decrease of about 1.79%. When you compare this to the average trade volume on Stellar’s exchange (XLM) the story is different. In this area Stellar’s trade volume increased from 3,231,673,996 to 3,490,422,131. This is an 8% right.
The daily operations of the Stellar Network has increased by 113%. It moved from 1,086,301,804 to 2,319,330,319. This change means that the existing players have been making greater use of Stellar’s network than they did in the last quarter. Additionally, the total number of absolute payments dropped by 1.75%. It declined from 6,114,465 to 6,007,446. One transaction is confirmed in every 5.5 seconds on Stellar’s network. This is significantly faster than the majority of the projects available.
Stellar’s Partnerships in the Last Quarter
Recently, the Stellar development team was able to convince payment processing firm CoinQvest to utilize the Stellar Network. CoinQvest will use Stellar’s Blockchain to process cross-border transactions. Stellar will be able to move millions of USD in a matter of seconds at the rate of a few pennies, no matter where the recipient and sender are (close by or thousands of kilometers apart).
The Stellar Foundation has also pushed the development of the Stellar wallet, which is set for a summer release. To this end, the SDF collaborated with the Settle Network, Saldo, nTokens, AnchorMXN, and, AnchorARS. The goal of this collaborative effort is to improve developments in this sector and provide better scalability. Stellar also announced that it will continue to expand its presence in Southeast Asia and East Africa.
The Stellar development team is reportedly investigating the potential use for stablecoins based on Stellar’s network. This move could ensure that such technology is deployed mainly in countries that have weak economies. Mostly developing countries. During the last quarter, the Stellar Development Foundation also announced the first corporate investment on the network. This investment cost the foundation $715,000 and it was done in Liechtenstein-based firm DSTOQ. DSTOQ will tokenize securities based on Stellar’s Blockchain and ensure that they enter emerging markets.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.
