Stellar (XLM) News
Today a new social experiment on Stellar is started:
The Stellar Torch!
The Stellar Torch is a transaction that is sent from person to person. Just like a relay baton. The amazing thing is that the torch will pass through 100,000 people at the cost of 1 XLM.
How does it work
- Every holder will publicly ask someone to receive the torch and send it to them after receiving confirmation. The sender is responsible for picking a trustworthy receiver that will not run away with the torch.
- In the memo field of the transaction, the sender puts their geographical coordinates in the memo field in this format: [52.370216,4.895168]. You can see find coordinates here.
- The receiver picks a person to send the torch to next.
- It's easiest to send the transaction using Keybase, since it lets you verify social identities before sending. You can go to the "people" tab. Look for someones Twitter/Reddit profile (even if they don't have keybase) and start a chat. In the chat is a $ icon that lets you send the torch. It will ask for a memo (use the stellar one, not the keybase one).
- I'll be starting the torch with a 0.0000001 XLM transaction, exemplary to how cheap and efficient Stellar is.
- In the beginning, it would be nice if community members that receive the torch added between 1$-5$ to the torch. This is to give it some fuel. We need that fuel to onboard people that are not that familiar with Stellar. It is then possible to send the torch to someones Twitter or Reddit account that doesn't have Keybase installed. They would just have to prove their social handle and they can pass the torch on to someone else. The base fee would, however, remain in their wallet, which is why we need some "fuel".
- Ideally, everyone would AT LEAST add 2 XLM to the torch as a social gesture, even if they don't know anything about Stellar.
Ask for help
I have bought the domain name stellartorch.com. It would be amazing if 1 or more of you were willing to help build a website that tracks the torch around the world. The page could summarize things like:
- Amount transferred, distance traveled, transactions, balance, fee's spent, graphical overview of the route, countries it visited, etc.
Please send me a message here or on Keybase if you are enthusiastic to work on it.
Announcing the first Torch Holder
Now the most important thing. The torch is lit and ready to travel around the world and beyond. u/Magofox, are you ready to receive the torch?!
I came "onboard" the Stellar ecosystem via Keybase recently, and completed the coinbase "10 USD" drop. Being generally crypto-skeptic I read the whitepaper (it's quite dense, took me a while), but seems sound. Not to mention, I like that it's not proof of work, so would waste much, much less elecricity than other coins.
So I'm all set, I think I understand what XLM is. But... what do I do now? Are there shops/services accepting XLM? What can I use it for?
|24h Low / 24h High||$0.12121 / $0.13305|
All time high
|All time high||$0.87556|
|All time high date||2018-01-03 (one year ago)|
|Since all time high||-85.80 %|
|24 hours||-0.69 %|
|7 days||-0.40 %|
|14 days||-2.19 %|
|30 days||-10.08 %|
|60 days||24.05 %|
|1 year||-32.42 %|
|Merged pull requests||501|