Wow stellar lumens! Shoot over 100% today!! 16/10/2017

Stellar was based on Ripple protocol, but it then forked due to critical consensus code. So Stellar is the latest currency scheme that plan to move current financial system into the blockchain technology. What it basically does is allow us to send and receive fiat in multiple currencies. For example, you're living in the US and wish to send your relative an amount of pesos in Mexico. You can do that by using this platform without having to pay for high fee of wire transfer.

How they going to execute it?

Instead of using gpu mining or asic miner like bitcoin and other altcoin, stellar uses a network of decentralized servers to power a distributed ledger.

From : stellar.org

Then the ledger records the money you deposited as credit, all of this is done by anchor. Anchor is like a bridge between your real fiat money and the virtual stellar network. This is evident too in today payment system.

What causes the current high spike in price?

The big news : IBM big tech company uses Stellar Lumens to settle its own cross border payment! THis is huge!

In the kind of unveiling that can only come before one of the biggest events in global finance, IBM is revealing today at Sibos 2017 the results of a partnership with blockchain startup Stellar in which it successfully settled real transactions using the company's custom cryptocurrency, lumens.

While currently limited to cross-border payments involving British pounds and Fijian dollars, the early-stage platform is nonetheless designed to scale to handle seven fiat currencies in the South Pacific – including the Australian dollar, the New Zealand dollar and the Tonga pa'anga.

Source : https://www.coindesk.com/ibms-stellar-move-tech-giant-use-lumen-cryptocurrency-payments-rail/

IBM is not the only one who have partnership with Stellar, there are more than 20 companies in partnership too!!

.stellar.org/about/directory

Conclusion

Stellar is definitely in a overbought position right now. I will wait for a pullback before buying in. Right now the highest volume is around the price of 0.046$ to 0.056$. If it breaks through the support area, it might signifies the correction to come. That's the time I would buy in. Stellar is definitely a long term investment rather than short term! Buy it while it's less than a penny now!