Stellar Lumens to eliminate inflation – Monero Schedules Hardfork November 30, 2019

By Steven Anderson October 9, 2019 0
stellar monero

Stellar Lumens is looking to eliminate the XLM inflation.  The Stellar Development Foundation will be doing away with the inflation mechanism included in the XLM protocol. The reason behind this move is that the inflation mechanism is not working well.

To get the process going, the validator nodes on the Stellar Network will have to vote.  The voting will be used to determine the recipient’s address of the distribution node.  Each distribution node should receive 0.05% of the votes to earn an inflation reward. Since these XLM rewards were being redistributed across the HODLers, they were not providing any economic benefits; the Stellar Development Foundation has decided to close this at a technical level.  While the inflation operation will be there in the codes, it will be changed in a way to do nothing.  This is executed as a protocol change.

Monero has been scheduled for a hard fork on November 30, 2019.  The tentative schedule for code freeze is on October 24, 2019, and the release of v0.15 is scheduled to happen on October 31, 2019. A new upgrade called, RandomX, a Proof-of-Work (PoW) algorithm optimized for general-purpose CPUs, will be introduced.  This algorithm will be phasing out the extended payments ID meant to improve the privacy and the user experience of the customers.

The official blog post of Monero read thus: 

“Services still utilizing long payment IDs are thus reminded to upgrade to either integrated addresses or subaddresses as soon as possible.”

It is the period of the crypto crisis; the market is on the downside.  The little signs of green are not sustainable for several Altcoins.  Different Altcoins flocked into the market, and each of them promised a utility.  Some Altcoins, which were obscure, were even accepted among the hype of the many. Retailers flocked into the cryptocurrency market, investing in Altcoins, which they thought would be the next best to Bitcoin.

The sentiments are very low concerning Altcoins.  Many of them are crashing without support.  Several investors who brought in to Altcoins hoping to strike rich are seeing that their money is wiped out completely.  Some Altcoins are gone, and they are not going to recover.  This is about the many of the 2900 and more of cryptocurrencies revolving in the market.  However, those Altcoins which have a mission and purpose are doing all their homework to stay and sustain their promise.

Altcoins are not losing their chances; however, one should be clear that the tokens which will survive are the ones that have continual work happening.

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