Stellar’s Past and Future Challenges

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Not every company is perfect, especially startups. Stellar has been blessed to make very few errors, but we would still like to cover the challenges they have had, and will face. We want you to leave you as well-rounded as possible with your new Stellar knowledge.

Jed McCaleb’s Bad Press

The founder of Stellar is known for getting a lot of bad press. It almost feels like I’m reading a teenage gossip magazine when reading about his past. Nonetheless, it’s important to read about him from multiple sources, as he is leading the company. We’ll post stories from many different sides in the resources.

Kik Integration

It seems they have had trouble integrating with Kik. Kik originally left Ethereum for Stellar, but it seems they may be moving on.

As Kik shows publically they are extremely indecisive on what protocol to work with, some users claim it’s only for publicity because the app is dying, but their intention is unknown.

Centralized Push-Back
Wells Fargo building

Taken by Ken Teegarden (Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0))

Stellar shares most of the adoption challenges that every other cryptocurrency faces. They face a lot of push-back from the government and financial industries that they are trying to disrupt.

As Andreas M. Antonopoulos states in a talk about Bitcoin, “you don’t go and poke a 20 trillion dollar industry, and go hey! We’re going to disrupt you”.

Grain of Salt

I’ve listed a few negative pieces of Stellar’s history in this section. Most often in Cryptocurrency communities you are sheltered from bad press, which is an unhealthy environment for an investor. When reading the press, positive or negative, take everything with a grain of salt.

Do your research, and read from a lot of different sources. That’s how you’ll figure out how you can best invest your time, if you’re choose to develop blockchain applications, and your money, if you are choosing to invest.

3 Curated Resources

An article that covers in a table-view of countries how bitcoin and other cryptocurrencies are being regulated. This may help with your insight as to what to expect for future years.

A much shorter version of the “A Race to Replace Bitcoin” article, if you don’t have the time to read it. You can tell the original article is very biased, and this article goes over whether it is accurate or not.

Kin and Orbs

free, Article

An article written by the founder of Kik, on their current plans of using blockchain. The article seems to state that they are leaving Stellar.