INTRODUCTION
Stellar Shark is a new dynamic cryptocurrency specifically designed to gear up the qualities of Stellar (XLM)mechanism, such as open source technologies, low effective transactions cost, flexible and decentralized model of operation, extended consensus protocol, speed of light transactions and others.
Stellar Shark being a hard fork of Stellar (XLM), this mean that all XLM holders who have their XLM on their XLM private Wallet are entitled to receive XLK from the snapshot that was taken from the Stellar Shark network (XLK) for XLM owners, which done June 28, 2019, at a ratio of 1:1. This will make XLK more active and ensure prosperity in the cryptocurrency community.
The current problems facing the crypto currency industry and Stellar Shark projected solutions:
With rapid growth and launch of new cryptocurrencies, the ascent of bitcoin and every other mine able cryptocurrencies could boost global warming to 2C in just two decades, according to a new analysis.
Cryptocurrencies have emerged in recent years as a novel means of completing financial transactions online, but experts have become increasingly concerned about their environmental impact.
The demand such currencies place on the energy system are enormous, and this drives up carbon emissions which in turn add to the overall global warming effect.
On the contrary, removing miners from the equation, pre-designed cryptocurrencies, such as Stellar/Stellar Shark, provide more green approach and much higher transaction processing rates.
Why Banks are scared of Cryptocurrency
The rate at which cryptocurrencies are growing over the last few years has filled bankers with abhorrence.
Cryptocurrencies are rapidly growing and bankers fear they might lose control over all money. If many people turn to the cryptocurrency, bank customers will reduce and hence the income will go down as well. And there are already many crypto telegram signals, that helps the new trader in the crypto game to invest more efficiently.
The bankers fear that this new technology might replace them. Seeing cryptocurrencies as a competitor and not as a contributor is a major reason why bankers hate cryptocurrency.
Transferring a huge FIAT over long distances requires more time. With this new technology, it will only take a few seconds to transfer equivalent cryptocurrency. This means bankers will no longer have control over the economy as Stellar is positioning itself as a friction-free money transfer system, and supporting several currencies (perhaps all currencies in the world) is one of its strengths. It allows for an almost unlimited number of currency pairs, both crypto and fiat.
Stellar transfers work in the same way as PayPal: money deposited by one user is
automatically converted into internal loans that are sent to the recipient. When a user wants
to exchange one currency for another, the system looks for the best match in its order book
Stellar Shark Hard Fork
a hard fork is a permanent divergence from the previous version of the blockchain, and nodes running previous versions will no longer be accepted by the newest version. This essentially creates a fork in the blockchain: one path follows the new, upgraded blockchain, and the other path continues along the old path. Generally, after a short period of time, those on the old chain will realize that their version of the blockchain is outdated or irrelevant and quickly upgrade to the latest version.
Stellar Shark (XLK) is a hard fork of Stellar lumen (XLM), just like Bitcoin Cash is a hard fork of Bitcoin. However.
According to informations gathered from Stellar Shark Whitepaper, Stellar will provide the following services:
Stellar Shark Wallet
Now we are doing everything so that Stellar Shark would rather be added to the main
wallets accepting Stellar, such as Ledger, Astral, StellarPort, Interstellar and others.
However, while the Stellar Shark team is in the process of negotiation with these wallets,
we will offer our community a specially designed, convenient and user-friendly wallet to keep their digital assets in. Here are some of the features of the Shark wallet:
- Ultramodern, minimalist interface;
- Mobile-friendly and fast;
- Seamless integration with the Stellar Shark ICO platform, dApps and decentralized
exchange; - Users retain full control of their private keys;
- Money transfers to any country via the Lightning Network of DEX straight from the
wallet in just 3 clicks; - Two-factor authentication with the possibility to add biometric features (face
recognition, fingerprints); - Integration with NFC technology for money transfers and in-store payments;
- Encrypted SSL Web protection;
- Easy wallet recovery from seed without the need to download the whole ledger;
- Current exchange rates updated in real time right in the wallet;
- Interfaces for Web, iOS and Android.
ICO platform
Stellar Shark will provide not just a wallet and an exchange, but also an ideal framework
to launch new decentralized projects in an affordable way. Extremely low network fees and
high capacity mean that running an ICO on Stellar Shark will be many times cheaper than
on Ethereum, and all new tokens will be tradeable on the internal decentralized exchange
from day 1. Thanks to this feature, bounty program participants and smaller contributors
will not have any problem selling their tokens.
The vast majority of initial token offerings is still launched on Ethereum, but this popularity
does not reflect any real advantages: ICOs on Ethereum cost a lot of money to organize
due to the necessity to use Solidity, prices for services such as audit and marketing are
extremely high, transaction fees unexpectedly change, scams are very frequent, and
transferring tokens bought during an ICO to an exchange is often a hassle. Stellar Shark
aims to rectify these issues. Features of our ICO platform include:
- Built-in marketplace for marketing, promotion, community-building, code audit, design,
and other services; - Low project placement fees and near-zero transaction fees;
- Investing in ICOs straight from the wallet;
- Decentralized voting and selection mechanism to rate ICOs and preventscams;
- Internal chat for communicating with project teams and community managers;
- Easy registration and placement thanks to a user-friendly ICO page builder;
- Secure escrow service;
- Flexible token distribution tool;
- KYC service;
- Multiple payment options, including fiat;
- Decentralized due diligence;
- Internal subplatform for bounty.
Thanks for reading through, to gain more about the Stellar Shark project, please do find time to read through their whitepaper.
Site: https://stellar-shark.com/
Whіtерареr: https://stellar-shark.com/wp.pdf
Fасеbооk: https://www.facebook.com/stellarshark/
Twіttеr: https://twitter.com/sharkxlk
Gіthub: https://github.com/stellarshark
Tеlеgrаm: httрѕ://t.mе/ѕtеllаrѕhаrkоffісіаl
YоuTubе: https://www.youtube.com/channel/UCqJUebgjC6DtQvAs9hfvNnw
Creator: Zalixo
My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile&sa=summary&u=2110265