Back

Connecty CEO Chooses Stellar Over Ethereum

According to a statement by Oliver Alirol, the Chief Executive Officer of Connecty has explained why the project decided to opt for Stellar tech as opposed to Ethereum based on the overall performance of Stellar. As he states, to conduct 100K transactions of Stellar’s platform, the company has realized that it would take only one XLM coin averagely. As with XLM’s current value, it equals just over $0.20 on the market which, as it turns out, is the cost of just one transaction on Ethereum.

Not Just Economical

Oliver Alirol has stated that many additional features on Stellar which has aided the network in deciding on the platform, including its compliance system, payment methods, and signature threshold. These signatures classify signatures of transactions according to different kinds with each carrying a specific weight. The notion itself is that no transaction may be processed until the included weights within the submission of a certain transaction to a decided figure.

By providing payees with non-replicable weight to each signature and through this, Stellar allows a certain transaction feature which enables a fund recipient to either accept or deny the funds. The CEO then stated that it was vital for the network to introduce a method of payment similar to PayPal in which a payee retains the right to approve or deny any transaction, making Stellar the only blockchain offering such a feature among all the others that were researched by Connecty.

Over the last few weeks, Stellar has climbed to the top in terms of competing for widespread and massive adoption among a large number of competing for blockchain-pay technology battling out in the industry. Earlier last month, Coinbase made an announcement, revealing that Stellar had been shortlisted as a possible listing as a default trading pair with the USD on the leading cryptocurrency exchange within the US.

During the same week, Bahrain’s central bank certified XLM under the country’s Islamic Sharia law, making it the first cryptocurrency be qualified within the country and may possibly introduce almost two billion individuals within the Middle East to cryptocurrencies and their market. Connecty has become the most recent Initial coin offerings to adopt Stellar-tech. As one crypto researcher from eToro has stated, due to the incredibly low costs of Stellar transactions as well as the massive supply of coins in circulation, it presents almost no possible rise in price in the foreseeable future.

1 year ago

Start Weekly Digest

Similar news