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The number of registered Stellar users has grown by 500%.

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Recently, Stellar (XLM) is increasingly being discussed in crypto space. At the time of writing, XLM is trading at a price of $ 0.162, with a market capitalization of $ 3 billion, which puts Stellar (XLM) in 4th place in the Coinmarketcap rating.

Stellar certainly has more options than ever, since a recent report by Stellar Expert, which tracks analytics on the Stellar network, showed that in the last 6 months Stellar had an incredible leap — the number of registered accounts increased by as much as 500%.

The Stellar team commented on this event on Reddit:

2,000,000 Stellar accounts. It took almost four years to get from 0 to 1 000 000 accounts and only two months to double the number. Network effect in action!  

It is worth noting that this message was viewed more than 500,000 times in one day.

A growth of 500% is certainly significant, but in fact does not reflect the full extent of how Stellar grew in 2018, which is even more impressive, because cryptocurrency markets showed a bearish trend for most of the year.  

In particular, Stellar began the year 2018 with just over 162,000 active accounts, but now this figure has reached the level of 2 million accounts. This means that Stellar has increased the number of registered users more than ten times this year.

The “network effect”, which is mentioned in a message on Reddit, is a common concept in technology and business circles. This phrase means that the more users are added to a particular network, the greater the value of the network or platform itself. This concept is commonly used to estimate the value of many startups that arise, for example, from Silicon Valley.  

It is also worth noting that there were rumors of a partnership with technology giant Stellar IBM. This collaboration will help Stellar enter the global payment space. Many point out that Stellar is a viable competitor to Ripple (XRP) in this regard.

And what do you think about Stellar (XLM)? Leave your comments below!  

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Wells Fargo will launch stablecoin for internal settlements

Wells Fargo & Company, an American financial company, will launch Wells Fargo Digital Cash, a pilot blockchain service for internal payments, based on Corda Enterprise. According to a press release, Wells Fargo Digital Cash will provide almost instant international transfers between company branches using digitized funds (tokens). The company has already tested the concept on transfers from the USA to Canada. The launch of the project is scheduled for 2020 […]

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Wells Fargo & Company, an American financial company, will launch Wells Fargo Digital Cash, a pilot blockchain service for internal payments, based on Corda Enterprise.

According to a press release , Wells Fargo Digital Cash will provide almost instant international transfers between company branches using digitized funds (tokens).

The company has already tested the concept on transfers from the USA to Canada.

The launch of the project is scheduled for 2020. Wells Fargo Digital Cash will initially provide dollar payments, but then add support for other currencies.

Recall that previously the largest US financial holding company JPMorgan developed its own stablecoin JPMCoin for making international payments to large customers.

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Wells Fargo is going to present its own stablecoin in 2020

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Wells Fargo, the fourth largest bank in the US, plans to introduce its own stablecoin in 2020, which will be used in cross-border transfers.

The press release said that the new Wells Fargo platform will create an international payment network based on distributed ledger technology. With the help of this system, as well as the Wells Fargo Digital Cash asset, payments will be made. The stablecoin being developed will be pegged to the US dollar. Initially, the network will be used for internal calculations, after which it will be integrated with other applications.

Lisa Fraser, representative of Wells Fagro, noted that DLT technology has many options for use, the company believes that it can also be successfully applied in banking. In addition, Wells Fargo Digital Cash is expected to enable the company to overcome barriers that still hindered effective cross-border payments in real time.

As you can see Wells Fargo followed the example of the bank JPMorgan Chase, which also introduced its own digital currency. It is noteworthy that back in July, Wells Fargo forbade customers to use credit cards to purchase cryptocurrency and its use in transactions.

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In the Bitcoin blockchain, a record of the network hashrate and the share of SegWit transactions

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is set

The volume of computing power in the Bitcoin blockchain this Monday reached a record value above 104 quintillion per second, according to Smartbit portal data.

The record was fixed after approaching the level of 100 EH / s last week and the subsequent small rollback. Before the current growth period, which began in December and accelerated in June, the previous maximum was fixed at 60 EH / s in October 2018.

As noted earlier, over the past three months , about 600,000 new ASIC miners have joined the Bitcoin network, which has led to a rapid increase in the hash rate .

Last week, another message appeared that the authorities of one of the provinces of China are taking measures to close mining enterprises on their territory.

Also today, transactionfee portal announced another record – the share of transactions in the Bitcoin blockchain using Segregated Witness (SegWit) technology for the first time exceeded 50%.

On the main Bitcoin network, SegWit was activated on August 24, 2017. The technology is aimed at solving the problems of blockchain scalability, transaction plasticity, and also allows you to implement other optimizations. After the jump to 38% last May, the spread of SegWit slowed down and until recently ranged from 40-45%.

Casa Bitcoin developer and CTO Jameson Lopp previously spoke of the proliferation of technology that responded to the congestion of the cryptocurrency network:

"Reducing the demand for transactions, improving algorithms for calculating commissions, distributing SegWit and grouping transactions have led to more efficient use of space in blocks and reduced competition for this scarce resource."

At the same time, the price of the leading cryptocurrency , having shown a steady rise in the first half of the year, has remained in a fairly narrow range over the past months and amounts to about $ 10,000.

Publication date 09/17/2019
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Name Price24H (%)
Bitcoin (BTC)
$10,212.52
0.17%
Ethereum (ETH)
$212.22
7.87%
XRP (XRP)
$0.301239
15.62%
Bitcoin Cash (BCH)
$323.25
5.64%
EOS (EOS)
$4.10
1.70%
Stellar (XLM)
$0.066320
13.57%
Litecoin (LTC)
$75.73
4.40%
Cardano (ADA)
$0.050924
8.23%
Tether (USDT)
$1.00
-0.09%
Monero (XMR)
$74.73
0.34%
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