A new merger has just been formed between Lightyear and Chain to make it easier to build and operate on the stellar network. Lightyear acquired Chain to form Interstellar which will work independently from the Stellar Network to help organizations build on the stellar network. Lightyear was founded in 2017 as a Stellar XLM focused commercial entity.
The merger combines Stellar’s global public ledger with Chain’s large customer base and enterprise products making it possible for organizations to issue, manage and exchange assets on the Stellar blockchain. Chain has been a market leader in enterprise adoption of blockchains making it a valuable asset for Stellar. Users on the network will also be able to track assets easily as they are moved between the Stellar network and other private ledgers.
The team leading the newly formed entity, Interstellar, will consist of Adam Ludwin (CEO), formerly Chain’s Chief executive. Jed McCaleb a cofounder of both Lightyear and the Stellar Development Foundation will serve as Interstellar’s Chief Technology Officer.
The company will employ 60 personnel with the main office in San Francisco and other offices in New York and Singapore. Their key responsibility will be to build Interstellar into a platform that will leverage Stellar network to enable developer and businesses issue, transfer and exchange any digital currency over the internet. While Stellar has been working on the network, Chain’s activities have been from within organizations and their merger forms a single entity with streamlined solutions from the ground up.
The Stellar Build Challenge
The Stellar build challenge is one of the platforms through which the blockchain involves the community in its development. The 7the edition of the challenge was concluded this September and it was a great success. 107 submissions were made and the community was active throughout the process, communicating with developers and giving them feedback on their progress. Of the submissions, 50% will receive awards for the contributions they made through their participation. More than 3.5 million Lumens will be distributed as awards to both developers and community members who gave valuable feedback and support during the challenge.
The categories developers could participate in were Application/Security and the Library/SDK/Framework. The winning contributions in the 1st category were made on StellarGuard which provides enhanced security for any account on the Stellar network by adding an additional multisig signer. THE second category was won by Kirbyrawr, whose contributions added significant improvements to the dotnet-steller-sdk.
Other contributions that made it to the finals include a tutorial documentation outlining the steps for creating a payment platform on the blockchain, developments on the sdk making the library accessible to Rust users interacting with Stellar XLM and Horizon, improvements on the social trading platform, Nucleo.fi among others.
XLM Market Analysis
Stellar (XLM) is currently priced at USD 0.20 with a market capitalization of USD 3.757 billion. The coin now ranks 6th by size. XLM fell below the USD 4 billion dollar mark in September but has seen its value grow by up to USD 40 million from yesterday’s valuation. Stellar’s volatility in the past month was relatively low in comparison to that of its peer coins, XLM stood at 24.71%.
The altcoin which is already four years old began trading back in 2014 at $0.003 for one XLM crypto coin. Today, the total Return on investment for the pioneer XLM HODLers is at 6,922.77% given the XLM current market price. Of its 49 months of existence, Stellar has rarely been on the green for a full month but the market bulls have at a time pushed the altcoin to $0.8517. Its highest positive margin within a span of 24 hours was recorded at 114%.