Stellar Lumens News Today – The Stellar blockchain was developed by the co-founder of Ripple, Jed McCaleb. He created it to be an improvement of Ripple and the XRP token. The Stellar Lumens token is the native cryptocurrency of the Stellar Lumens blockchain. Just like Ripple and XRP, Stellar aims at reinventing the financial sector using blockchain technology. It is fast, cheap and efficient. In fact, according to Weiss Ratings, Stellar Lumens has one of the best consensus mechanism in the blockchain space. Still, it isn’t as popular as Ripple, Tron or many of the other top blockchains. Why is Stellar Lumens not popular? Will an increase in popularity promote adoption and price?
Stellar Lumens News Today – Crypto Twitter Analysis Why Stellar Isn’t As Popular As It Should Be
In our previous Stellar Lumens news, we made mention of the fact that Stellar is meant to be among the top five cryptocurrencies in the space. We also noted that the Lumens token was undervalued and required a significant bull push to reach its full potential. Apparently, Smartereum.com isn’t the only one concerned about the poor performance of the Stellar Lumens token and the lack of popularity of the blockchain.
Yesterday, this issue of Stellar popularity was discussed on Twitter. Weiss Ratings asked its followers this same questions we’ve been looking for answers to. The tweet was as follows;
“#Stellar has one of the best consensus algorithms of any projects ever. Yet it doesn’t get the recognition it deserves. How come? #XLM #StellarLumens #crypto #cryptocurrency #altcoins”
While some users disputed the efficiency of the Stellar blockchain consensus mechanism, another user suggested that the main reason why Stellar Lumens is lagging behind per popularity is that the Stellar Development Foundation has zero marketing skills. The user made reference to Tron stating that Justin Sun and the entire Tron Foundation spend a lot of time and money on marketing. The marketing power of Sun is behind the progress of the network and the token.
Anotheruser suggested that the main problem with Stellar Lumens lies in the consensus mechanism. You’ll recall that a while ago, the Stellar blockchain suffered a downtime because of issues with just three nodes. Such a thing hasn’t happened on the Tron or XRP network before. So, according to this user, people are more comfortable with these other networks than with Stellar.
Stellar (XLM) Price Today – XLM / USD
Someone else pointed out that the Stellar network is suffering the ripple effect of the Mt. Gox scandal. Mt. Gox was one of the top cryptocurrency exchanges in the world but it crashed in an exit scam that caused investors millions of dollars. The founder of Stellar was a major operator at Mt. Got. So, investors are still wary about diving into a blockchain network that was created by someone who once worked closely with scammers.
Many other users made suggestions about why the Stellar Lumens blockchain isn’t as popular as it should be. The bottom line is that Stellar needs to divert more effort into marketing. Simply hosting airdrop after airdrop isn’t going to cut it anymore. With a good marketing strategy, Stellar will be able to gain the trust of investors and this will encourage adoption of the blockchain.
What do you think about the Stellar Lumens news today? What is behind Steller’s lack of popularity in your opinion?
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.