The price of Stellar Lumens (XLM) has increased 60% in the last 24 hours, and for the first time since September 2018 it exceeded the $ 0.2 mark. The “premium” price movement followed the announcement by the developers of the project of a new public version. The Stellar Network Protocol was implemented by auditors.
The Protocol 15 update took effect at 16:00 UTC on November 23 and includes two new features designed to reduce the level of complexity presented to users of Stellar’s network applications and services.
Stellar Lumens’ price action was relatively weak in the last year to November 21, when volumes began to rise. XLM has doubled in the last 48 hours and leads the 100 best coins by market value in weekly winnings, exceeding 125%. It is one of the few coins that currently drives the altcoin package in what may be the long-awaited “alternative season”.
Originally created by Jed McCaleb of the Ripple Labs Protocol and launched in July 2014, Stellar aims to reduce the cost of cross-border payments using blockchain. The project focuses on serving non-banking or non-banking regions in the world, where access to traditional financial services either does not exist or is very expensive.
Stellar’s protocol 15 update includes two new components designed to improve the user experience while maintaining protection against “farmer attacks” and other ways attackers may attempt to sabotage a network target. A farm attack is when an organization creates multiple accounts to obtain small amounts of money sent to those accounts by service providers required to activate the account.
According to the official Stellar blog, Protocol 15 features have been under development for over a year and address some of the “biggest flaws” of developers when building applications and services for customers on Stellar.
“Once updated, developers can create simpler, more user-friendly user interfaces that remove the complexity of the blockchain without losing the benefits of a fast, inexpensive, and unlicensed ledger.”
Stellar has just announced a partnership with ClickPesa, a payment platform provider in East Africa that serves six countries in the region. According to the Stellar blog, ClickPesa was motivated to use Stellar when it identified “an opportunity to reduce the friction inherent in cross-border payments in Africa and P2P payment activity.”
In October, Stellar announced that USDC stablecoin would be listed on the blockchain sometime in 2021 and continue its mission to optimize cross-border transfers. Stellar Lumens’ extremely low transaction fees and settlement times of 4 to 5 seconds are some of the best-selling points for cryptocurrencies.