Stellar was born in 2014 as an offshoot of Ripple because Jed McCaleb, the co-founder, had philosophical differences with the rest of the Ripple board. While Ripple is focused on providing solutions to banks, Stellar aims to help facilitate payments between people. While they work in a similar fashion, Stellar is sort of like a “bottom-up” approach compard to Ripple’s “top-down”. Stellar Lumens are the currency used by the Stellar network, and when the network was started 100 billion Lumens (XLM) were created.
ICOs have started following a pretty standard script in how they introduce themselves to the crypto-community: Announcement on Bitcoin Talk offering bounties for shilling Advertisements on Coinmarketcap.com that make browsers die Requisite witepaper that no one reads Slick website featuring glossy images of the giant team The poing of all of this is, of course, to raise a lot of money when the ICO starts. This is dramatically different than the way a “normal” startup works - build a minimum viable product, get some customers, find a Venture Captialist to fuel your grown.
Introduction There’s been a lot of news this year about companies raising hundreds of millions of dollars by having an Initial Coin Offering, called an ICO. If you’re not familiar with an ICO, it can sound bizarre, or even like a scam (and some are). Here’s the basics of what you need to know. The Rationale Let’s say you’re a startup in the blockchain or cryptocurrency space. You think you’ve got a great idea, but you’re going to need some captial to support you while you develop your idea.