JED McCALEB GIVES HIS MOST “STELLAR” PERFORMANCE
As an avid cryptocurrency investor, I am always looking for coins that have huge potential. One of my favorite coins, KIN, which is owned by the KIK messaging company, recently joined forces with the Stellar network to provide faster transactions for their token platform. Stellar’s base technology of creating a blockchain system to achieve faster transactions to match financial systems will revolutionize how coins are transferred digitally. Stellar will make it possible to exchange all types of assets including stocks, bonds and other securities. Since KIN is currently an ERC-20 token on the Etherium network, I have noticed very slow transactions on widely used ERC-20 exchanges such as IDEX and Etherdelta. Stellar is expected to improve these slow transactions with their own network. The success of Stellar is a result of their ambitious co-founder Jed McCaleb. In a recent article by Haley Thompson of Chronicle of the Week, Jed explains how blockchain technology will change banking and finance. Here is the link to the article: https://chronicleweek.com/2018/04/jed-mccaleb-founder-stellar-blockchain-will-change-face-banking/. Let’s explore some key items about the article.
The article first mentions that Jed McCaleb was the founder of Mt. Gox Exchange, which produced the most notorious hacking scandal in cryptocurrency history. Although the hack did not happen under Jed’s watch, it is still associated with McCaleb in a negative way. Jed has turned this all around with Stellar, a top 10 cryptocurrency company by market cap, which has progressed to be the next big thing in blockchain technology. As Chief Technology Officer, Jed envisions a financial world where there will be a universal payment network that will serve as a public ledger that people have access to which provides the ability to use traditional fiat currency.
In addition to faster speed and volume transactions, Haley mentions in her article that the Stellar platform also allows for the tokenization of assets and moving them securely over a protected network. This allows Stellar to handle transactions internationally. The article continues to explain McCaleb’s vision for bridging venture capitalism and ICO’s closer together and digitizing the financial markets through blockchain technology.