Bitcoin may have stolen the limelight in the cryptocurrency space over the past few weeks but at the same time, altcoins have been conducting their own developments. Stellar Lumens, which had made news earlier with collaborations and coin burns recently revealed that they had conducted important updates to the XLM ecosystem. This comes in the wake of Stellar’s renewed mission to connect banks, payments systems and people with each other by moving capital quickly and reliably.
According to the official blog from the Stellar Foundation, the organization had kick-started its voting phase for the Stellar Community Round 3. After the voting, 8 projects will be selected from the total project pool and be given 3 million XLM tokens in total. The initial release about the voting stated:
” This round began October 12 and will run until January 1, 2020. Nomination voting will begin on December 16. YOU MUST SUBMIT YOUR PROPOSAL BY DECEMBER 14 @ 12:00PM PST (Proposals submitted after this date will not be included in the nomination round). Final Voting will take place on https://stellarcommunity.fund starting on December 27th.”
Developers on the Stellar ecosystem also conducted Core Advancements Proposals [CAP] to document proposed standards aimed to improve various aspects of the Stellar Network. These updates resonate on the same level as the updates conducted on the Bitcoin and Ethereum ecosystems. The Bitcoin Improvement Proposals and the Ethereum Improvement Proposals on GitHub are code repositories built to make BTC and ETH more powerful.
The Stellar Foundation further discussed the proposal of adding protocol-level multiplex accounts to its fold. These accounts target users who forget memo IDs and in turn, result in massive support costs. If the proposal passes, all sources and destinations of payments in the XLM ecosystem will be replaced with a MuxedAccount type. The Stellar Foundation’s focus on the new accounts has been evidenced from its focus to get feedback from various players in the space such as Coinqvest, Lobstr and Stellarport. Stellar Development Foundation [SDF] chief scientist David Mazieres even added:
“The question on the table is whether we should accept CAP-0027, which already has an implementation.”
Denelle Dixon, the CEO of the Foundation has called 2020 as the year where XLM will break into the mainstream forefront. Dixon touched upon the fact that recently there has been a 73 percent increase in the number of Stellar accounts, which was a 5 fold increase in Tier 1 validators.