This past Friday being the 28th day of Sept 2018, marks the accomplishment of a very important milestone for the stellar company as they announced the launch of the full version of its much anticipated zero-fee decentralized crypto exchange, StellarX.
The Zero-fee decentralized exchange was first announced in July this year and ever since then, has been undergoing the testing stage. The company behind StellarX is called Interstellar.
StellarX will allow users to directly deposit US dollars into a US bank account. It has a large variety of fiat currencies available for trade and deposit including the US Dollar, Euro, British Pound, Hong Kong Dollar, and others. It also lists all major cryptocurrencies such as ETH, BTC, LTC, BCH, etc. But the platform seems to offer much more than other crypto exchange operators –
First of all, StellarX lets you live the inter-chain dream of swapping your Philippine Pesos for Litecoin for municipal bonds for lumens, and all of those trades settle in seconds.
We let you trade directly from your wallet, and you can deposit and redeem off-chain assets, like BTC or EUR. We also help you manage your secret keys, though of course we never have access to them or your assets.
Because we’re built on the open Stellar order book, *no one* — no exchange, no miners, no middleman of any kind — takes a cut of your transactions. In a world of a thousand DEXs, we’re one of the few true peer-to-peer, trader-to-trader platforms.”
The stellar company thinks the currently existing decentralized exchanges are lagging behind in so many angles, so they decided to launch theirs calling it the true peer to peer crypto exchange that requires no charges whatsoever. If Interstellar has built a fully function decentralized zero-fee crypto exchange, then it will be a landmark for the industry and a huge success. Stellar plans to include stocks, bonds, real estate and commodities on its crypto exchange. Its free, fast, and compares itself to Robinhood, an increasingly popular “for the people” crypto exchange that offered a zero fee service earlier this year.
Stellar is the sixth largest coin by market capitalization. It was created as a fork of Ripple (XRP) in 2014. Both Ripple and Stellar were created by Jed McCaleb, who also founded Mount Gox, moving on before its historic collapse. The two coins function as payment settlement networks. While the focus of Ripple is on facilitating payments between banks and companies as a larger real-time gross settlement system (RTGS), the aim of Stellar is to facilitate payments between individuals and small businesses. McCaleb is the current CTO of Interstellar.