- Mobile Coin has announced to adopt the Stellar Consensus protocol in creating their network.
- The team claimed this will help them to achieve high transaction speeds and scalability.
Crypto World: In the present cryptocurrency community, Stellar Lumens (XLM) is rising to overtake Ripple (XRP) as the top cryptocurrency in cross-border payments. A recent plus to Stellar Lumens that got everybody excited is the announcement that Mobile Coin team would be using the Stellar Consensus Protocol to create their own network. The motive behind this is to achieve high transaction speeds and scalability.
Mobile Coin, backed by some big firms including Binance Labs, and has raised more than $30 mln in the last round of funding, is a privacy digital currency that intends to integrate with mobile messaging platforms such as WhatsApp.
What makes Mobile Coin using the Stellar Consensus Protocol a big deal is that Stellar will be the bridge for those who want to convert Mobile Coin to fiat currency and vice versa, once the crypto is adopted. To be clear, once Mobile Coin is integrated into some of the world’s largest mobile messaging platforms, it will be a Big Hit for Stellar Lumens (XLM). This will make the volume of Stellar Lumens to rise and its intrinsic value will dart up the sky. Chances that this happening is possible is that Mobile coin is backed by some big firms including Binance Labs, this means that XLM would be listed on Binance, the world largest cryptocurrency exchange. XLM will draw attention through this listing and this would attract some chat messaging platforms. Integration of Mobile coin to chat messaging platform would give it an instant access to billions of users, everyone using Stellar Lumens as a bridge.
More so, this announcement endorses Stellar as a superior blockchain. Mobile Coin could have selected any other blockchain other than Stellar but chose Stellar simply because it believes Stellar offers the speed and scalability potential required to meet the possible large-scale adoption of Mobile Coin. The fact that IBM, a global tech services firm, is using Stellar to launch digital assets, and cut costs on cross-border transactions is a further validation of the stellar network
As a result of this, Stellar Lumens’ investors should expect a short-term pump in the value of XLM as soon as the deal is confirmed. And as more partnerships come into effect, there would be an exponential growth in the value of this XLM. Hence, XLM is one the cryptocurrencies that would experience a huge rise this year, closing this year at $1 and above.