- Stellar Lumens recorded strong growth in Q2 2020
- The SDF has hired ten new employees despite coronavirus pandemic
- The foundation aims to drive the adaptation of XLM
Stellar Lumens News Today – the SDF (Stellar Development Foundation) has published a new quarterly report a few hours ago. The report contains details of the current progress of Stellar in the second quarter of this year. Stellar’s developers have also initiated a vast number of innovations. The Stellar community has made a huge contribution to the network’s development and adaptation. The community did this through many donations and other means of assistance.
Additionally, a comprehensive network expansion known as the Protocol 13 update has been implemented. This latest innovation contains several new important functions. The SDF has also unveiled a good number of strategic partnerships in the second quarter of this year.
SDF Hires Ten New Employees and Implements Protocol 13
The SDF’s quarterly report talked about a major network expansion followed by the release of Protocol 13 (which introduced many important new features like fee increase, multiple accounts, and more detailed asset authorization control). The Stellar Foundation has invested in the to Abra use XLM. The goal is to spread and increase its acceptance.
Abra has about 3 million active users around the globe. The firm is constantly growing and drawing in new parties. Stellar also invested in SatoshiPay. SatoshiPay offers a forum for instant processing of transactions across national borders. With Stellar you can process transactions in real-time at a cheaper cost. The SDF has increased its media impact too. In fact, in the last few weeks, the foundation has held 20 virtual conferences and events. It has also participated in eight separate crypto-focused conferences.
The SDF has Continued to Establish Strategic Partnerships
Additionally, the SDF established a strategic partnership with the World Economic Forum to facilitate the acceptance of XLM. The overall number of transactions completed in quarter two compared to quarter one of 2020 has risen by 38.70%. It rose from 9,570,121 to 13,282,383. Meaning, there was a significant rise in the use of Stellar’s Blockchain compared to last year. The 24-hour trading volume of Stellar’s DEX (decentralized stock exchange) has risen from 3,4490,422 to 5,940,311 which is a growth of about 70 %.
The SDF also partnered with ofinclusive to offer compliance services and monitor Stellar’s network. Back in May, the SDF also created a boot camp application that allows Stellar’s users to trade play money. The model introduces them one step at a time on how to trade and handle digital currencies. Coinqvest also announced the integration of Stellar into its platform to facilitate quicker and cheaper payments via the Stellar network. Finally, the Stellar Development Foundation has also partnered with Elliptic to offer custody options for institutional investors.