StellarX occurs as a new user interface for trading crypto-currencies. The use is for all parties Involved, apparently, for free. It makes you wonder: What is the Motivation behind it is to bring something free on the market? From the looks of it, wants to emancipate Stellar to Bitcoin, and from the competitors Ripple to settle.
The problems with centralized exchanges, zip currently worrying through the news columns. Manipulation of the Bitcoin price and the attacks on the infrastructure are welcome fodder for FUD-Schreier, the trust of the Community could be larger. In all this Chaos, a new trading platform, the would like to clean it up a bit: StellarX.
StellarX – a decentralized stock exchange?
One thing first: StellarX is not a decentralized exchange. The operators emphasize on your home page:
“StellarX has no Order Books or a private Trading System. Even if StellarX maybe a DEX feels, because it is from the own Wallet out and everything is on-chain is achieved, we are not an Exchange. We are basically a pretty good GUI for the publicly available Stellar network.“
to be The offshoot of the Stellar network refers to the fact that only a GUI, a graphical user interface for crypto Trading. In this statement, the objective of the new Stellar platform hidden in the end. But before you can understand it, the question is:
StellarX Is really free?
The answer is unclear Jein. First, each transaction costs 0,00001 XLM. This is due to the principles of the decentralized network. Because in the Stellar Protocol is firmly rooted, that each transaction costs a fee of 0.00001 Lumen. The company promises on its Homepage to bundle these costs and reimburse. StellarX added the fees for each transaction, and pay you once a week to the users.
But also elsewhere fees can occur. Because the Token that you can act on the user interface, are Token from a third party. You want to withdraw it later again, you have to handle this service, as before, through a third party, whereby additional fees may be incurred. In principle, however, the platform is free of charge. At this point, the implicit objective of StellarX:
independence of Ripple and bitcoin, stellar joins as a new infrastructure against Bankencoin Ripple
Currently, the Credo in terms of adaptation is often: the Blockchain? Yes! Bitcoin? No, thank you. So it is often the case that companies are trying to the technology of the crypto currencies, by themselves, however. StellarX is, however, that can change. Because, ultimately, the new platform pushes the Stellar network and can thus ensure long-term and more price stability and more adaptation.
Because if StellarX established as a trading platform, it will increase the chances that banks with the use of the Stellar-deal Tokens. With the aim of, as a Cross-Border payment channel to enforce, Stellar, ultimately, Ripple and the Bankencoin XRP.
independence from Bitcoin
Also, compared to Bitcoin can create the network more independence. Bitcoin is the leading crypto – currency, the price movements of the Altcoins are based heavily on Bitcoin. This is one of the reasons for this dependency is that you can trade Altcoins directly against Fiat currencies. Often the detour is about Bitcoin is necessary.
With StellarX can emancipate Stellar, ultimately, of this dependence. The fact that you can currencies on StellarX Stellars XLM directly against Fiat and Stable Coins to swap, here is a step in the direction of independence.
conclusion: worth A look
Whether or not the project is now in currencies is a graphical user interface, a decentralized stock exchange or a trading platform for Crypto, is ultimately of secondary importance. The bottom line is that StellarX not accept the call for greater independence from Central instances of a serious and an important breeding ground for the adaptation of the Blockchain technology makes it possible for the what the Ecosystem is currently in need of:.