CZ Explains How Binance Dealt With Aftermath of $40 Million Theft

6m
cryptoglobe

The End of the Bitcoin (BTC) and Crypto Winter Is Here

8m
dailyhodl

Renowned Dev Crafts Two Improvement Proposals For Bitcoin Privacy

17m
cryptonewmedia

Bitcoin’s $2,200 correct could prove to be a swing trade buy, claims old-school trader |

18m
cryptonewmedia

Top Altcoins Gainers in USD and BTC Value – 2019 Week 20 Edition

18m
nulltx

Just 732,000 Bitcoin Addresses Own At Least 1 BTC

24m
bitcoinist

Netherlands: Odyssey Announces Winners Of 2019 Blockchain And AI Hackathon By Diana Ngo - April 25, 2019 0 269

25m
coinjournal

How to Travel the World With Bitcoin Cash

37m
thebitcoinnews

Bank of America has yet to find any blockchain use case for financial services sector, says Bessant

42m
bitcoinnews

Upper echelons of exchange’s board sparks debate; compliance…

1h
cryptonewmedia

BitMax.io (BTMX.com) Announces Strategic Listing Partnership with DREP

1h
cryptonewmedia

Bitcoin Bulls Wipe Out Losses on Another Strong Weekend

2h
bitcoinnews

Binance Coin (BNB) Heads Toward $30 With A $4 Billion Valuation

2h
zycrypto

Bitcoin Cash Upgrade and 30K Stores Accepting BCH in the Weekly Update From Bitcoin.com

2h
thebitcoinnews

Binance Coin [BNB] registers ATH as it surges by over 16,000% since inception |

2h
cryptonewmedia

Bitcoin Cash’s hashrate comes dangerously close to being controlled by one mining pool |

2h
cryptonewmedia

Kik CEO Says Firm Spent $5+ Million on Negotiations With US SEC: Report

2h
cryptonewmedia

BitcoinNews.com Ethereum Market Analysis 19th May 2019

2h
bitcoinnews

Coinbase CEO Talks About Staking, Voting, Margin Trading, Lightning Network, and More

2h
cryptoglobe

Can Monero (XMR) Trade At $100 By End Of May?

3h
zycrypto

A Perfect Cryptocurrency With No Flaws, Is It Ripple’s XRP?

3h
zycrypto

BitcoinNews.com Bitcoin Market Analysis 19th May 2019

3h
bitcoinnews

Ethereum Is Popular, but It’s Probably Not Perfect

3h
livebitcoinnews

Binance Coin [BNB] registers ATH as it surges by over 16,000% since…

3h
cryptonewmedia

How Microsoft (and Others) Plan to Empower Users to Own and Control Personal Data

3h
cryptonewmedia


XLM Price Surges 25% Despite Stellar Network Going Down for Two Hours

The price of XLM, the cryptocurrency used on the Stellar blockchain, has recently started surging, despite a recent two-hour failure that affected its blockchain, in which users weren’t able to transact.

According to a Reddit thread, the outage occurred as Stellar Development Foundation (SDF) validators went down. Every Stellar validator can choose which validators to trust, and the majority have gone with SDF, leading to a certain level of centralization.

Once the SDF validators went down, the whole network wasn’t able to reach consensus and, as a security measure, stopped processing transactions. The reason the nodes to go down isn’t yet clear. Given the network’s temporary failure, some in the Stellar community have called for a debate on its centralization, hoping to avoid having a single point of failure in the future.

Breaking: yesterday the Stellar network went down for about 2 hours... only those who run validators noticed it. no new transactions were added for ~2 hours. network stats:https://t.co/eSRYFPjDQi

Despite the network’s failure, the cryptocurrency is currently up by nearly 25% in the last 24-hour period, suggesting users are still bullish on it. Related to its price performance could be Poloniex, a major cryptocurrency exchange, announcing support for Stellar inflation rewards.

On the Stellar network, new XLM is issued at a rate of 1% a year, and token holders who have over 0.05% of network votes are rewarded with those tokens. One XLM is the equivalent of one vote. Poloniex’s move could’ve seen various users buy tokens to take advantage of the rewards.

At press time, one XLM token is trading at about $0.15,  and the cryptocurrency has a market cap of $2.87 billion. In the last two weeks, XLM tokens have seen their price rise by 48.1% as they’ve also been accompanying the wider crypto market rally.

Interestingly, XLM’s network went down at about the same time the Bitcoin Cash network faced a glitch, that saw someone take advantage of a bug to get miners to mine empty blocks, stopping transactions from being processed. The bug was fixed by BCH’s developers soon after being exploited.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments