- Special round table to deliberate on achieving network effects on an Open Network set for october
- Denelle Dixon, Ronaldo Lemos, Lin-Hua Wu, Keith Rabois, and Jed McCaleb are participants
- The issue of network congestion will be addressed
Stellar Lumens News Today – scheduled for October 7, 2020, is a special round table event that will deliberate on achieving network effects on an Open Network. Denelle Dixon, Ronaldo Lemos, Keith Rabois, Lin-Hua Wu, and Jed McCaleb will make up the round table. They will talk about the value of network effects which is considered as an essential part of the process of building businesses and solutions.
Speaking on this topic is paramount because achieving network effects isn’t an easy task in the blockchain sector. Creating Network effects takes a huge amount of resources and talent. It requires a solution that builds user confidence, trust, and adoption and offers effective leadership, thus building a strong network.
The Different Ways to Active A Value Growth Model Will be Discussed
They will discuss the different ways to accomplish a value growth system in Blockchain as an open network. Those participating have been asked to register beforehand. After registering, all participants will get confirmation emails with a step-by-step guide on how to sign up with the webinar. The digital asset analyst Sydney Ifergan tweeted:
“Stellar knows it is crucial to explore Network effects because the support and interest of real people is something we hold in high regard. It is essential for the success of our products or services.”
Network effects are essential because the more people using a particular network (and the more people using the network’s products), the better its value will become. Participants are users who want to benefit from a particular network. Network effects can result in exponential growth levels. The network effect is only possible when the network is useful for participants. Network effects can’t be faked. Fake attempts to make something appear like a network effect won’t last long.
The Issue of Network Congestion to be Addressed
When the users on a network service are too many, it can slow down the network’s speed. Per the report, this is also one of the issues that will be looked into. The network providers need to make sure that the capability of scalability can be boosted in a way that allows it to accommodate more users. The Stellar network announced that its Stellar Protocol 14 rollout is now officially underway.
The Stellar Core v14.0.0 and Horizon v1.9.0 launch candidates are now out as well. It has several new features that are well documented. The network have published a few details on issues that Stellar Developers have to follow in preparation for the Protocol 14 upgrade. The developers who are working on the stellar network must make a note of these recommendations. The upgrade won’t necessarily require time-consuming database migrations. Hence, it will be a fairly painless process.