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Payments Blockchain Stellar Hits 1 Mn Accounts to its Network, Added Most is Last Six Months

September 05, 2018 16:08
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Stellar Lumens, the open decentralised cross-asset payment framework has achieved a significant milestone in its network with 1,000,000 accounts. The framework based on that of Ripple, has gained significant traction in recent days both in terms of the addition of accounts to its network and steady growth in value.

The data from StellarExpert Explorer shows that the 1,000,000 accounts mark was achieved on August 27th and has grown rapidly since the start of this year. At the start of this year, the Stellar had just over 200,000 accounts. 2018 is proving to be one of the best years for the Stellar project and has seen a couple of industry partnership and exchange listings making it one of the hottest crypto asset.

Stellar was Co-founded by Jed McCaleb, who also founded Ripple and served as CTO until 2013 when he parted ways with the project. Stellar competes directly with Bitcoin, Ethereum and Ripple offering a superfast crypto-based payments system and a cross-asset transfer framework all in one package.

Its overall crypto-asset transfer framework is very similar to that of Ethereum enabling it to host ICOs (though in limited software project types), facilitating smooth crypto-fiat transactions. Also, it offers transactions at lowest fees (0.00001 lumens) and its transaction speed is comparable to Ripple, making it one of the fastest.

Since its launch, its value has increased from $0.003 to $0.226 per token ( a growth of over 7000% in last four years) and also its market cap went has grown from $772,596 to over $4 billion, due to its continued adoption.

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