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Justin Rice’s Stellar Ecosystem Gets Major Updates in 2020

Justin Rice’s Stellar Ecosystem Gets Major Updates in 2020

In an interview on Tuesday, August 17, the Head of Stellar Development Foundation, Justin Rice, announced that the Stellar Ecosystem is ready with multiple exciting updates. According to Rice, the Stellar ecosystem will reflect the responsibilities of the Foundation in the role of a non-profit organization. Decentralized exchanges will govern the importance of a non-profit in the Stellar ecosystem. In 2020, Rice is set to bring more value to Stellar’s decentralized exchanges and add more advanced features to the Stellar protocol.

Rice stated in the interview that the Stellar Development Foundation would finance education and awareness for the Stellar ecosystem in 2020. It will expand the Stellar Community Fund and incentivize the developers towards building new Stellar protocol applications. With this Fund, Rice will be rewarding multiple projects with a prize of three million Stellar Lumens (XLM) for every quarter of the financial year 2020–21.

Justin Rice believes that XLMs can work well with other blockchains. The projects being selected by Rice will serve a vote by the public community. The Foundation will also provide an opportunity for community education to promote these projects. The Stellar protocol will be used exclusively for building these projects/applications.

In the Stellar ecosystem, dApps will be emphasized via advancements in Stellar protocol features. Building Stellar applications in 2020 will be a lot exciting and easier. Developers can work independently and do not need to interact with the backend for APIs. Details of API documentation will be provided to developers via walkthroughs. Stellar will also give SDKs to developers and help them build dynamic applications by running the Stellar protocol on other programming languages.

For decentralized exchanges, new advantages in security and the absence of a single point of failure will be introduced. Interoperability setbacks will be resolved by bringing fiat currencies on the Stellar blockchain. With the use of cross-border remittances, sending tokens via emails will become more safe and feasible.

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XLM Live Price & Current Updates

      Market Capitalization        4 082 733 792 USD 6.96%
      Volume 24hrs       2 780 283 951 USD 66.06%
      ATH       0.938144 USD -79.38%
      Max Supply       0.193429 USD 6.71%

Technical Analysis

Stellar is a secure platform that is designed to offer access to an open and affordable financial system, which makes it easier for users to attain financial independence. It offers a practical solution to critical global issues. Stellar has its cryptocurrency called Lumens, and there are lots of financial institutions that are supporting the Stellar network.

It is important to note here that Stellar refers to the network and platform that makes peer to peer transactions possible. Lumens, on the other hand, is a native currency of the Stellar network. The price of lumens may increase with the adoption of the network.

Stellar (XLM) is showing a strong bullish trend. The past few days have shown a bullish momentum and trading around $0.0700 level. Traders are now considering trading only long positions as long as the price remains above $0.070. The next resistance is located at $0.090. After this resistance, buyers can target $0.18. With the pattern that is currently showing, investors will need to monitor for possible bullish excesses that can lead to a small correction in a short duration. These corrections offer traders opportunities to get in the direction of the bullish trend.

For the very short-term, the bullish statement is confirmed by technical indicators. However, there would be a small bearish correction in excessive bullish movements.

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