Stellar Lumens (XLM) is one of the top cryptos in the market, currently sitting at position 10 in the charts – as posted on CoinMarketCap. Stellar has also battled hard to retain its status among the top cryptos as the market braces for a bull run expected to break out this year. However, Stellar doesn’t seem to attract as much attention as other popular coins, and Weiss Ratings wants to know why.
In a tweet, Weiss Ratings posed the question to its Twitter followers, wondering why Stellar isn’t largely recognized yet despite having one of the best consensus algorithms. The responses were varied.
Zero Marketing
According to one commenter on the tweet’s thread, Stellar isn’t cutting it into popularity mainly because it doesn’t market hard like other platforms. The user mentioned Justin Sun, Tron’s CEO, in that regard. Granted, Justin has been a major marketing force behind Tron’s success.
Consensus Problems
Another user contributing to the thread opined that Stellar isn’t really that great, especially considering that the platform has been dealing with some problems in its consensus system.
Stellar’s consensus algorithm was once brought down by just 3 nodes within its network. The user went on to argue that such occurrences don’t happen in other networks like the XRP Ledger.
Trust Issues
That wasn’t all. Another user opined that of late, Stellar hasn’t quite inspired a lot of investor confidence, especially since it is run by Jed McCaleb, the same guy who ran Mt.GOX. Mt.GOX was a crypto exchange riddled with scandals.
Also, at least according to this user, Stellar Lumen’s foundation is largely secretive, with not much detail known about it. The user went on to claim that the foundation’s holdings are also unaudited.
All these claims may or may not hold water in a direct, fact-finding debate or discussion, but they may well have affected Stellar’s popularity and possibly eroded some of its strengths as one of the more versatile market leaders.
