A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, Stellar Force, a new cryptocurrency that takes advantage of many of the benefits of Stellar, such as processing speed, low fees, a democratic and decentralized model, open source technologies and others has arrived.
"Stellar is operated by a non-profit organization called Stellar.org and was founded by Jed McCaleb, who also co-founded another popular cryptocurrency, ripple. Similar to ripple, Stellar is also a cross-border transfer and payment system that connects financial entities with an aim to significantly reduce the transaction costs and time lags. Each transaction has a standard mining fee of 0.00001 lumens.
Stellar’s primary focus is on the developing economies in the areas of remittances and bank loans to those who are still outside of the scope of the banking services. It doesn’t charge individuals or institutions for using the Stellar network.
While Stellar works similar to most decentralized payment technologies like bitcoin, its key distinguishing feature is its consensus protocol. The present-day Stellar is a result of a 2014 fork that created the Stellar Consensus Protocol (SCP) following which Stellar became an open-source system. Under this protocol, the transaction authentication process is confined to a select set of trustworthy nodes rather than being left open to the whole network of nodes. Each node on the network selects a set of such trustworthy nodes, and a transaction is considered approved once authenticated by all nodes that are part of this select group. This shortened approval cycle allows the Stellar network to process transactions faster and keep transaction costs lower."
With that being said, Stellar Force will present a number of important innovations that we expect will become the industry standard in the near future, such as support for the Lightning Network and multi-currency exchanges. In this section, we take a closer look at each of them.
Now that I have your attention, let’s get right to it.
What exactly is Stellar Force?
As depicted above and indicated on the official website of Stellar Force, Stellar Force is a new cryptocurrency that takes advantage of many of the benefits of Stellar, such as processing speed, low fees, a democratic and decentralized model, open source technologies and others. Stellar Force (XLF) will be distributed free of charge to XLM owners after a network snapshot scheduled for February 9, 2019, in a 1: 1 ratio. This will give an early impetus to the XLF and ensure the formation of an organically growing community.
In addition, Stellar Force will present a number of important innovations that Stellar Force expect will become the industry standard in the near future, such as support for the Lightning Network and multi-currency exchanges.
About The ICO platform
Stellar Force will provide not only a wallet and exchange, but also an ideal basis for launching new decentralized projects in an affordable way. Extremely low network charges and high bandwidth mean that launching an ICO on Stellar Force will be many times cheaper than on Ethereum, and all new tokens will be available for exchange on the internal decentralized exchange from the first day.
The vast majority of the original offers of tokens are still running on Ethereum, but this popularity does not reflect any real benefits: the organization of ICO on Ethereum costs a lot of money because it is necessary to use Solidity, the prices for services such as audit and marketing are extremely high, transaction fees they change suddenly, fraud happens very often, and the transfer of tokens bought during the ICO to the exchange often becomes a problem. Stellar Force seeks to fix these problems.
Features of the ICO platform include:
Low fees for project placement and almost zero transaction fees;
Investing in ICO directly from the wallet;
Decentralized voting and selection mechanism for ICO evaluation and fraud prevention;
Internal chat for communication with project teams and community managers;
Easy registration and placement thanks to the convenient use of the ICO page builder;
Flexible tokens distribution tool;
Several payment options, including Fiat;
Internal platform for generosity.
Fast and mobile-friendly wallet
Zero-fee, instant P2P payments using Lightning Network
High-capacity and secure
High-capacity, secure and reliable blockchain network
Safe and affordable ICO platform
About Hard and Soft forks - As illustrated on the official whitepaper of Stellar Force
First and foremost, Forking is a common way to develop new and improved versions of existing cryptocurrencies. Stellar Force is created as a hard fork Stellar, just like Bircoin Cash is a hard fork Bitcoin. However, one should understand the difference between hard and soft forks, as well as unintentional (temporary) forks.
The most common type of fork is the unintended fork, which occurs when two blocks in a distributed ledger are accidentally terminated and checked at the same time. ). In this case, two new blocks get the same number, and the blockchain is divided into two branches. Such plugs do not pose a serious problem if the community of nodes can choose which of the two options to consider the “correct” continuation of the ledger. The second branch is discarded, and all transactions in it are transferred to the main chain or saved in another way. Among recent examples of such random plugs is a case that occurred with the NEO network and was widely publicized because NEO officially could not be branched. However, it is important to remember that a random fork may occur in any ledger - this is not a “real” fork.
The next type of plug is a soft plug, it is completely intentional and includes part of the community that agreed to make important changes to the code. Users are free to stick with it or not; the main thing is that those who switch to the new version will still be able to communicate with the old one. This is similar to upgrading to a new version of Windows, which still allows you to use older versions of Office and other software. The software plug is backward compatible, because the nodes that decide to remain in the old network will still recognize the validity of the blocks completed in the new network. However, if for some reason users decide to return to the state of the software plug, this will require a hard fork.
Stellar Force hard fork: snapshot and distribution
Immediately before the launch of the Stellar Force, a snapshot of the star network will be taken; This step is planned from February 9, 2019. A snapshot is a record of all Star holders who have lumens in their personal wallets at the time of the snapshot, as well as the corresponding XLM in each user's wallet. Each XLM owner will be eligible to receive Stellar Force (XLF) coins for free after a hand in the 1: 1 ratio. It is important to note that after a snapshot, Stellar holders can freely dispose of their gaps at their discretion, including transferring them for exchange to another user or selling them. They will still get free XLF, as long as there are several lumens in their wallet when the picture was taken.
Only XLM in personal wallets are valid for distributing free Stellar Force tokens. The lumens on the exchanges do not give their owners XLF.
Each XLM holder receives free XLF in a 1: 1 ratio.
If you want to buy XLF now:
Send XLM to: GB23OAR65G2TKDDYTR5BDLBEHHCZ2ZOH2PTJ7QWYAUJIJYDDWZ27GHUO
After branching, we will send XLF to your wallet address. Then you can transfer XLF to any of the exchanges, for further sale and get a good yield.
The value of the coins are as follows:
0-5 million: 1 XLM per 1000 XLF
5-15 million: 1 XLM per 500 XLF
15-25 million: 1 XLM per 200 XLF
Minimal transaction amount: 50 XLM
Number of coins for sale: 25 million
The total supply of XLF is limited to 100 billion, of which 25 billion is allocated for presale, 2 billion for campaigns for remuneration and 13 billion for the development of additional services and the management of the Star Force Fund.
Pre-Sale & Values
End Date - 8 February 2019
Minimum Purchase pre-sale - 50 XLM
Total XLF - 100 billion
Pre-sale - 25 billion
Bounty - 2 billion
Development - 13 billion
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
For more information, please visit:
Whitepaper : https://stellarforce.org/wp.pdf
Twitter : https://twitter.com/stellarforceorg
Telegram : https://t.me/stellarforcechat
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2487106
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.