Share this page!

pothu Profile picture
Twitter logo
Apr 10 • 11 tweets • 11 min read
#Stellar in 7 Tweets

The most important things you should know about the Stellar Network, the bridge between crypto and fiat currency.

A thread 🧵👇
1. The Stellar network is a distributed ledger technology that facilitates financial transactions. #Stellar allows users to create, send, and trade digital representations of currency. It’s designed for all of the world’s financial systems to work in unison on a single network.
2. #Stellar is extremely well suited for finance. The transaction confirmation time is 3 – 5 seconds, facilitated by its consensus mechanism. It can support thousands of transactions per second. Stellar also supports Multi-signatures and Smart Contracts.
3. Stellar connects banks, payment systems, and people. It allows all these entities to move money quickly, reliably at a very low cost. The transfer of cryptocurrencies and/or fiat currencies is swift and cheap through Stellar.
4. You can create a digital representation of a U.S. dollar (dollar token) on Stellar. No matter how a token moves through the economy, the underlying dollars never leave that bank account in the United States.
5. At present, the base fee on the #Stellar network is .00001 $XLM. The sender of the transaction incurs the expense. The fee is collected by the ledger and subsequently redistributed in the process of inflation.
6. #Stellar’s consensus algorithm is based on the Federated Byzantine Agreement (FBA). The “Stellar Consensus Protocol,” (SCP) allows Stellar to facilitate fast transactions at low costs. Agreements on the network are reached within seconds.
7. #Stellar is doing a great job at being a global exchange. Unlike most of #DeFi Stellar aims to support the existing financial model. Stellar does a really good job intertwining #crypto and traditional currency.
Accounts for #Stellar insights:
@MasonVersluis @thebu11runner @NicolasFlamelX @noaty343 @XLM_Top @iCryptoNetwork @NCashOfficial @lIllIlllIIIll @Stellar_News_ @StellarUpdate @STELLAR_trading @samconnerone @StellarFamily @Stellar_Family @LumenatorJack @ReachROCKIN
RT would be great
More #stellar accounts:
@BigBabvshka @pipsielot @MIGmanagement @gootecks @JayBlessed901 @Call_Me_Cypher @bullringcrypto @UtilityTheory @acoindetective @SharkAnth0ny @ObviousRise @Lydia78976035 @XRPharaoh33 @DCA_Cryptoz @artbydixon @driftxchange @r6kimry
RT would be great!
Hope this was insightful. I regularly post 101s and breakdowns, follow to keep up. Check out my Medium for some of my past write ups:
medium.com/@pothu

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with pothu

pothu Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @cryptoPothu

pothu Profile picture
Apr 11
Secret Network Explained: Privacy for all chains

Here’s your everything guide to the Secret Network and its token $SCRT. The Secret Network is a privacy-by-default protocol that enables dApps to perform encrypted computations, transfers, and contract calls.

A thread 🧵👇
2. At face value, crypto seems anonymous. Your crypto address isn’t connected to your irl identity. But even if the address is anonymous, it’s possible to analyze transaction histories and identify people.
3. There are already reports of government tracking tools that analyze crypto transactions. The Secret Network aims to bridge this gap between blockchain technology and privacy.
Read 18 tweets
pothu Profile picture
Apr 4
If you’re reading this you’re early.

Web3 is growing like crazy though. It’s only a matter of time before it’s a regular part of everyone’s lives — not just degens like us.

I think it’s important to take advantage of the opportunity, before Web3 becomes saturated.

🧵👇
2. The biggest people in Web3 right now only have around 200k followers right now. @Zeneca_33, @thedefiedge, @Route2FI, @NFTLlama are all around 200k—these guys are thought leaders. 200k sounds like a lot, but in the grand scheme of things this is miniscule.
3. In most industries, 200k is nothing, but in Web3 you’re a thought leader.This isn’t to take away from any of these legends, but I just wanted to illustrate how much room there is to grow.
Read 12 tweets
pothu Profile picture
Apr 4
$XRP in 9 tweets

Here are the most important things you need to know about #XRP and the #XRPL

A thread 🧵👇
1. XRPL is based on the Federated Byzantine Agreement (FBA) consensus algorithm. XRPL is an open-source, permissionless, decentralized blockchain. $XRP was created to be a financial tool. Its fast and transactions are cheap.
2. The #XRPL settles transactions in 3 seconds. Most transactions cost less than a penny (0.0001 XRP on average). The XRPL can also process over 1500 transactions per second. On top of all this the XRP ledger is eco friendly.
Read 14 tweets
pothu Profile picture
Apr 4
You can make life changing money with NFTs. Collections can 10x overnight. Kids drop out of school to go full time into jpegs. But how do you choose winning projects. How do you find the 5-10x gems?

Here’s your guide to choosing winning NFTs.

A thread 🧵👇
2. I’ve looked at hundreds of projects, spent thousands of hours on their discords, and bought countless NFTs. I think I’ve been burnt enough for all of us. By far the 4 most important things to consider when buying an NFT are the team, the community, the roadmap, and the art.
3. The Art

First and foremost, the art is important. Art is really subjective. I don’t expect you to be an art connoisseur. But you have to love the piece that you’re buying. The NFT market is incredibly volatile. Prices can fluctuate 30-50% if not more on a daily basis.
Read 34 tweets
pothu Profile picture
Apr 4
#Terra in 8 tweets

Here are the most important things you need to know about #Terra and $LUNA.

A thread 🧵👇
1. #Terra is a blockchain that lets users create stablecoins pegged to fiat currencies. These coins, including $UST, are truly decentralized and algorithmic. UST is Terra’s flagship stable coin. It also utilizes a superior seigniorage mechanism.
2. There are many ways algorithmic stablecoins can maintain their pegs. UST’s secret is #LUNA. $UST and other stablecoins in the #Terra ecosystem achieve price stability by adjusting supply based on real-time fluctuations in demand.
Read 14 tweets
pothu Profile picture
Apr 3
#HarmonyOne in 7 tweets

Here are the most importing things you need to know about Harmony One, the original sharded blockchain.
1. #HarmonyOne was the first to implement sharding on a mainnet. Harmony is able to achieve finality in about 2 seconds. A normal transfer is extremely cheap and costs roughly 0.000021 $ONE. This is achieved through Harmony’s FBFT consensus protocol and random state sharding.
2. Sharding allows Harmony to confirm transactions in parallel which accelerates transaction validation speed. To motivate the delevation of stakes across a larger number of people, Harmony uses a novel mechanism called Effective Proof of Stake (EPoS).
Read 12 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(