Prior to bitcoin's launch in 2009, digital money was largely a theoretical concept in the global economic place. But today, it has become a central matter of discuss on major media fronts in the cyber space. It would interest you to also know that the bespoke focal shift was catalyzed by the advent of crypocurrencies.
Talking about cryptocurrencies, the 2017 unprecedented climb in market cap did well to attract a lot of attention to the sphere, really.
Aside, take a major exchange like binance or mercatox for example, the volume of transactions that are performed on a daily basis is a good indicator of just how well digital monies have grown abroad.
In spite of its volatile nature, it is safe to assume that digital currencies will have a huge role to play in shaping the kind of tecnological era that is soon upon us. And, the host of features that it offers speaks volume of this.
To be frank, until bitcoin's first major market crash, when altcoins like Ethereum and Monero were deployed into the sphere, only a few users were in the know of just how much wonder they could wreck with the coins. With cryptocurrencies, there is no such thing as border restrictions. Right from the comfort of the closet, a Nigerian can instantly transfer value (currency) to an Indian. And that revelation was just enough to carrot many enthusiasts to join the sphere.
Some interesting features about cryptocurrencies include- peer-to-peer instant transactions, account privacy, APIs and co. And, as with all human creations that reach the stage where there arises the need for improvements, a number of existing crypto platforms are gradually approaching a breaking point. Personally, the need for a better alternative although not pressing at this instant, is imminent, hence Stellar Gold!
What is Stellar Gold?
Stellar Gold is a decentralized state-of-the-art infrastructure equipped to enable users buy crypto across borders and easily convert to the fiat of their choosing. In my opinion, bitcoin has done a great deal of benefit, by paving the way for emerging brands like Stellar Gold to further expand and bring the crypto sphere to mainstream. Stellar Gold is a truly promising brand, whose mechanism of operation is based on the Stellar Gold Consensus Protocol. The SCP is specifically structured to help cut down on the system's transaction processing time and likewise encourage inclusion into the everyday life of an average user. As a matter of fact, the same is its major essence.
Stellar Gold's uniqueness is borne from the following features.
Zero reliance on existing technology
In all fairness, bitcoin and ethereum's infrastructure are quite remarkable. However, the time lag experienced occasionally in the process of verifying transaction is anything but excusable. Its no rocket science then, that the sort of architecture originally designed at the onset of creation was not well capacitated to cater for the teeming community of crypto users and the volume of operations. Aside, the energy consumption of bitcoin and ethereum is quite high.
So, Stellar Gold group decided to create its own state-of-the-art technological infantry that would be well capacitated to deal with scalability issue and adequately serve the crypto community. The implication of this is that Stellar Gold will undergo system optimization on a regular basis.
As earlier mentioned, the SCP, upon which Stellar Gold is based will truncate the need for a large computing power. This will lead to reduction in the energy requirements and by effect, a more distributed network (decentralized) . Such decentralized infrastructure will encourage faster transaction speed.
Purchase and conversion of crypto to fiat at zero deposit/withdrawal fee
Users are incentivised to migrate to Stellar Gold's platform and get their private Wallet by charging close to zero fees on deposit and withdrawal. Today, only few crypto platforms are able to sustain such feat, hence I strongly believe that it will be a major selling point. The solution that the group is proposing by availing the Stellar Gold platform will undoubtedly encourage cryptocurrency investment, trading and vagaries of practical use cases.
The foregoing speaks volume of how Stellar Gold can revolutionise the crypto sphere. Truly, many brands have tried to integrate same into the mainstream market with little success, it would however seem that Stellar heralds a break from the norm. Being a modern day platform, it is safe to say that it will do well to meet the needs of the community. Aside, the zero transaction fee will go a long way to promote mass adoption.Hopefully, Stellar Gold will supersede public expectations.
BountyOx username: michades97