For example, it functions as a decentralized exchange, and it supports atomic path payments. Stellar does a lot more than just Lumens. Fast, cheap, and no electrical powerĪs we wrote before, Stellar transactions are very inexpensive (miniscule fraction of a penny), very fast (5 seconds), and most important, they’re not using as much electricity as a medium-sized country. Only when I make an account my “default” is it announced on my sigchain. Stellar supports other kinds of tokens-not just Lumens-and I hold other tokens in that account. Notice I have some Lumens “+ more” in my acme account. I have 2 other accounts I send from them not into Keybase chat, but to regular old Stellar addresses. However, Keybase will synchronize multiple accounts across my devices. This is the account I use to send and receive on the Stellar network, when transacting with other Keybase users. The top is my “default” account, which I’ve given the name “coyne purse,” a name which is encrypted just for me. Of course, you can still export your private key, for use in a non-Keybase Stellar app: So when you provision a new Keybase device, it automatically has access to your Stellar funds. Keybase now uses this protocol to sync your Stellar keys. This is the same protocol that unlocks your chats and Keybase encrypted files on a new install. Keybase already has an end-to-end secure protocol for communicating secrets, without exposing them to servers or man-in-the-middle attacks. So.how do you get your private keys - meaning, access to your accounts - from one device to another? Synchronizing of your Stellar private keys SAV75USXIJOBMEQXPANUOQM6F5L IYOTLPDIDVRJBFFE2MDJXG24TAPUU7Īccess to this private key lets me send moneyĪgain, Keybase removes the need to see these details. GCFYHS4GXL6BVUCXBWXGTITROWL VYXQKQLF4YH5O5JT3YZXCYPAFBJZB The 2 keys look something like this: stellar address Considering 100 wallets own 98.5% of XLM, airdrops could help reduce this XLM concentration.This “account” just has 2 keys in it, which I don’t need to see.
This is similar to what Stellar is now doing trying to make its network more decentralized and increase participation from crypto and non-crypto users.
Almost 60% of the total XRP supply is owned by Ripple and they claim the funds are used to increase XRP usage. The cryptocurrency community has many times accused XRP of being centralized. Stellar is also a direct competitor to XRP. Back in November 2018, announced an airdrop of $125 million worth of XLM coins.Īt the time, the goal was to drive decentralization and increase Stellar adoption among the crypto community. It seems there is an interest to increase the funds the community has by decentralizing the ownership of XLM coins. 41.4% is owned by the SDF for giveaways, 22.7% is pretended for partnerships, 14.6% for SDF Operations and just 1.5% of the funds are owned by the remaining number of users. With this new airdrop, users could receive around $6.1 million per month until they give away the whole 2 billion XLM.Īccording to data provided by The Block, the top 100 wallets own 98.5% of XLM supply. Keybase is an encrypted alternative to Slack, WhatsApp or Telegram. It demonstrates that we think this is a valuable opportunity for users of Keybase to get to know use. “The number seems much more rational when looked at over a 20-month period. The continuation of this program will highly depend on the results the airdrop will have among users.Īccording to the CEO of the Stellar Development Foundation, Denelle Dixon, the airdrop is an investment in Keybase and its users and in the vision the users share. At the moment, Keybase has 300,000 active users across different services and they can expect airdrops of 100 million XLM per month.Īt the moment, there are going to be three months of airdrops guaranteed according to a report released by the company. The messaging application Keybase announced they are going to be airdropping 2 billion XLMs with the Stellar Development Foundation.
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