• Ethereum
    Ethereum

    Like other blockchains, Ethereum has a native cryptocurrency called Ether (ETH). ETH is digital money. If you’ve heard of Bitcoin, ETH has many of the same features. It is purely digital, and can be sent to anyone anywhere in the world instantly. The supply of ETH isn’t controlled by any government or company – it is decentralized, and it is scarce. People all over the world use ETH to make payments, as a store of value, or as collateral. The latest news about Ethereum mostly concerns the move to Serenity the last post-development phase of Ethereum as well as changing Ether mining’s concept from Proof-of-Work to Proof-of-Stake in order to reduce the power cost of the process.

    Lido Finance with $19.1B in TVL, Edges out Curve as the Largest DeFi Protocol 1

    Lido Finance with $19.1B in TVL, Edges out Curve as the Largest DeFi Protocol

    Bitmex's Hayes: Ethereum Could Rise to $10k and Solana to $200 2

    Bitmex’s Hayes: Ethereum Could Rise to $10k and Solana to $200

    Ethereum's (ETH) Price Holds $168 Support Amidst Historic Oil Dump 3

    Ethereum’s (ETH) Price Holds $168 Support Amidst Historic Oil Dump

  • Bitcoin
    Bitcoin

    Bitcoin is the first peer-to-peer digital currency, also known as cryptocurrency. It is famous for its decentralized transactions, meaning that there is no central governing body operating it, such as a central bank. Bitcoin News will help you to get the latest information about what is happening in the market.

    Luna Foundation Acquires An Additional 37.8k Bitcoin Worth $1.5B, Bringing its Total Holdings to 80,394 BTC 4

    Luna Foundation Acquires An Additional 37.8k Bitcoin Worth $1.5B, Bringing its Total Holdings to 80,394 BTC

    Bitmex's Arthur Hayes Requests Leniency, No Jail Time for Violating the US Bank Secrecy Act 5

    Bitmex’s Arthur Hayes Requests Leniency, No Jail Time for Violating the US Bank Secrecy Act

    Could LUNA Hitting a New ATH Ignite a BTC and Crypto Bull Run? 6

    Could LUNA Hitting a New ATH Ignite a BTC and Crypto Bull Run?

  • DeFi
  • Latest
    Latest
    Luna Foundation Acquires An Additional 37.8k Bitcoin Worth $1.5B, Bringing its Total Holdings to 80,394 BTC 7

    Luna Foundation Acquires An Additional 37.8k Bitcoin Worth $1.5B, Bringing its Total Holdings to 80,394 BTC

    Bitmex's Arthur Hayes Requests Leniency, No Jail Time for Violating the US Bank Secrecy Act 8

    Bitmex’s Arthur Hayes Requests Leniency, No Jail Time for Violating the US Bank Secrecy Act

    Lido Finance with $19.1B in TVL, Edges out Curve as the Largest DeFi Protocol 9

    Lido Finance with $19.1B in TVL, Edges out Curve as the Largest DeFi Protocol

  • About Us
    • Contact Us
    • Our Team
  • Advertise
  • POPULAR
    To display trending posts, please ensure the Jetpack plugin is installed and that the Stats module of Jetpack is active. Refer to the theme documentation for help.
Reading
Facebook Denies Entering Partnership with Stellar Lumens (XLM)
ShareTweet
Facebook Stellar Lumens Partnership
Michael Lavere·
NEWS
·August 11, 2018

Facebook Denies Entering Partnership with Stellar Lumens (XLM)

Stellar Lumens (XLM)–Despite news that pointed to the opposite, Facebook has come forth to deny entering into any agreement or long term partnership with the sixth largest cryptocurrency by market capitalization, Stellar Lumens XLM.

Stellar and Facebook

On Friday, the story broke that Facebook and Stellar had recently held talks, leading the industry to speculate over a possible cryptocurrency partnership between the non-profit Stellar organization, their currency XLM and the world’s leading social media platform. Instead, Facebook has denied such a relationship, with a spokesperson telling financial outlet Cheddar, “We are not engaged in any discussions with Stellar, and we are not considering building on their technology.”

Business Insider was the first to break the news on a potential collaboration between Facebook and Stellar, claiming that the social media company was exploring the creation of a Stellar-based blockchain to implement on their platform. While representatives from Stellar declined to comment upon the rumors surrounding their organization and Facebook, the social media giant has been quick to deny any relationship to a cryptocurrency company.

The news also follows on the heels of Facebook Vice President David Marcus stepping down from his position on the board of popular U.S.-based cryptocurrency exchange Coinbase, stating that his presence constituted a conflict of interest. While seemingly unrelated, Stellar Lumens has been the favored currency as the next addition to Coinbase’s exchange, being one of five coins tabbed for exploration and possible addition to Coinbase in the near future. Marcus felt that his position leading Facebook’s blockchain strategy created too much overlap with his role on the board of Coinbase, however he praised the exchange in a statement accompanying his withdrawal from the position,

“Getting to know Brian [CEO of Coinbase], who’s become a friend, and the whole Coinbase leadership team and board has been an immense privilege. I’ve been thoroughly impressed by the talent and execution the team has demonstrated during my tenure, and I wish the team all the success it deserves going forward.”

Despite Facebook denying a partnership with Stellar, the company has been active in developing a presence in blockchain, potentially in anticipation of a cryptocurrency-based payment system. In July, Facebook’s Director of Engineering Evan Cheng transferred to the company’s recently formed blockchain team, a group that was first started by aforementioned David Marcus in May. The goal of the team is to explore applications for blockchain and other distributed ledger technology, without giving specific details towards a payment-based platform. In the original Business Insider report, the website included a quote from several Stellar sources, claiming that Facebook would benefit greatly from forming a partnership with their organization,

“it would make sense for Facebook to record payments transactions onto a distributed ledger like Stellar.”

Given the explosion in Stellar pricing that accompanied the potential Coinbase listing, it’s no surprise that investors are attempting to get to the bottom of a possible Facebook joint-venture. At the very least, such a partnership would directly benefit the sinking cryptocurrency market, with justification by one of the world’s largest companies over the use for cryptocurrency in social media.

Share
FacebookTwitterRedditWhatsappMessenger
Michael Lavere
Cryptocurrency Writer | Bitcoin Enthusiast | Altcoin Enthusiast Reach at: [email protected]
  • Ethereum
  • Bitcoin
  • DeFi
  • Latest
  • About Us
    • Contact Us
    • Our Team
  • Advertise
© 2019 Ethereum World News - This website and the information contained herein is not intended to be a source of advice or credit analysis with respect to the material presented, and the information and/or documents contained in this website do not constitute investment advice.
  • Ethereum
  • Bitcoin
  • DeFi
  • Latest
  • About Us
    • Contact Us
    • Our Team
  • Advertise
Start typing to see results or hit ESC to close
Bitcoin (BTC) General News cryptocurrency blockchain crypto price
See all results

SUBSCRIBE

A customizable modal perfect for newsletters
Go to Appearance > Customize > Subscribe Pop-up to set this up.