Token Development for ICOs With Stellar Could be Better and Cheaper Than With Ethereum

A couple of days ago, I received a call from my uncle asking me for advice on bitcoin investment. After a few minutes talking about bitcoin, he mentioned Stellar Lumens.

"It's so cheap! A few cents per coin, I will throw a hundred bucks on it to buy thousands of tokens and when it gets to price of Bitcoin, I will be rich!". He said excited like a little kid in a candy store.

"Hold on a second uncle. Someone at the door..."

I wasn't familiar with Stellar, but I was sure that just because a coin is so cheap, it doesn't mean it will make you rich overnight.

I googled the latest on Stellar and found a k-pop band, but I also realized that IBM partnered with Stellar

Wait a second..

IBM is using Stellar as their cross-border payment solution. Maybe my uncle is right and the price will go the same direction Stellar logo is going.

Yet, I have to say that I am a not professional trader, but a software developer building the future of international trade in INplaza and our ICO. Whatever I say about the price is pure speculation. I can talk about the technology, though.

Using Stellar for ICOs

While doing my research, I came across an interesting article in Stellar's blog where they explain the benefits of using Stellar instead of Solidity and Ethereum to issue your own token and there are some aspects that I would highlight.

Extremely Fast Confirmation Time

In the ancient SWIFT system the banks still use, an international transaction can take 3-5 business days. With Ethereum in INplaza we are attempting to solve this among other problems for importers and exporters within 3.5 to 10 minutes. Stellar confirmation time for a transaction is 5 seconds, so if you are a Stellar engineer I would like to talk to you as we already did with Ripple guys.

Forget About Gas, Stellar is Almost Free

Ethereum is becoming more expensive due to the gas spent on transactions, some can go really high. However, Stellar say they only charge .00001 XLM ~= $0.0000002 which means, with a dollar you can make thousands of transactions.

Documentation for Developers is Great

They provide you with excellent documentation to develop your token. We developers love good documentation. I can keep going, but I rather share this video from Stellar which explains why they might be a better choice for ICO development.

Thank you for reading, please let me know if you are using Stellar for your ICO or if you think my uncle will be rich by buying thousands of Stellar Lumens XLM