Aragon ANT to Stellar XLM Exchange

Crypto Pair Details: ANT to XLM

Aragon ANT

Aragon is a decentralized app (dApp) on the Ethereum blockchain that allows anyone to create and manage a decentralized organization. The Aragon project is open source and led by the Aragon Foundation. It also includes a token, ANT, that grants voting rights to make decisions about the direction of future development. Eventually, Aragon hopes to be a fully decentralized autonomous organization and dApp that’s a neutral jurisdiction for anyone to create an organization on the blockchain. In the early days of development, the project is relying on the nonprofit Aragon Foundation to provide direction and support as the project gets off the ground. The idea, however, is to eventually dissolve, scale back, or change the nature of the Foundation as community support grows. In the future, Aragon will be entirely decentralized and community led. Holders of the ANT token will have voting rights on all issues concerning Aragon. Aragon is an open source, non-profit project. It has many contributors. It also doesn’t technically have a CEO or CTO. Instead, it has a project lead. But don’t get it twisted, the lead is essentially the CEO. uis Cuende is leading the project. In 2011, he received a “Best Underage European Programmer” award, and he’s a recipient of Forbes’ 30 under 30 recognition. He’s a young guy, but with leadership and technical chops. He has advised the Vice President of the European Commission and is an MIT Innovators Under 35 awardee. He has founded several startups and created the first Linux distribution with face login. Aragon offers several core features. It has a module for identity management and closely related modules for ownership and access control. Other modules include shareholder voting, fundraising through token generation, HR onboarding and payroll, and accounts payable/receivable. Taken together, the core functionality of Aragon covers the critical aspects of accounting, governance, and identity that make modern companies work. As you can see, these modules make up most of the administrative functions that a modern company or organization requires. It’s important to emphasize that these modules can individually be turned on and off, providing instant customization for the company’s needs. In addition, all of the code behind Aragon is open source. A company’s development team could edit them as needed to fulfill the company’s requirements. The modular design of Aragon doesn’t stop with the core modules that come standard. Just as companies can edit existing modules, they’re free to develop completely new models as well. They can also develop atop the data and structures of existing models for extended functionality. The modular nature of Aragon, combined with its open source ethos, means we could see a whole ecosystem of free to use modules that extend capacity for organizations on Aragon. Aragon explicitly has the goal of creating a digital jurisdiction. Just like countries have jurisdiction over their citizens when it comes to courts of law, Aragon wants to create the first digital court of law. This court wouldn’t operate based on country boundaries. Instead, it would help enforce digital contracts between organizations on the Aragon platform. The ANT token is the native token of Aragon and plays a critical role in the governance model and incentive structure of the platform. It represents the wealth of the decentralized economy and was initially sold during Aragon’s highly successful ICO in May 2017 that raised $24 million. Subsequently, the ANT token has come to represent a powerful share of the governance on the platform. ANT holders can vote on proposals, participate in arbitration and the decentralized court system, and help contribute to the non-profit Aragon Foundation or to research and development through the Aragon Nest program.

Stellar XLM

The Stellar network is an open source, distributed, and community owned network used to facilitate cross-asset transfers of value. Stellar aims to help facilitate cross-asset transfer of value at a fraction of a penny while aiming to be an open financial system that gives people of all income levels access to low-cost financial services. Stellar can handle exchanges between fiat-based currencies and between cryptocurrencies. Stellar.org, the organization that supports Stellar, is centralized like XRP and meant to handle cross platform transactions and micro transactions like XRP. However, unlike Ripple, Stellar.org is non-profit and their platform itself is open source and decentralized. Stellar was founded by Jed McCaleb in 2014. Jed McCaleb is also the founder of Mt. Gox and co-founder of Ripple, launched the network system Stellar with former lawyer Joyce Kim. Stellar is also a payment technology that aims to connect financial institutions and drastically reduce the cost and time required for cross-border transfers. In fact, both payment networks used the same protocol initially. Distributed Exchange Through the use of its intermediary currency Lumens (XLM), a user can send any currency that they own to anyone else in a different currency. For instance, if Joe wanted to send USD to Mary using her EUR, an offer is submitted to the distributed exchange selling USD for EUR. This submitted offer forms is known as an order book. The network will use the order book to find the best exchange rate for the transaction in-order to minimize the fee paid by a user. This multi-currency transaction is possible because of 'Anchors'. Anchors are trusted entities that hold people’s deposits and can issue credit. In essence, Anchors serves as the bridge between different currencies and the Stellar network. Lumens (XLM) Lumens are the native asset (digital currency) that exist on the Stellar network that helps to facilitate multi-currency transactions and prevent spams. For multi-currency transactions, XLM is the digital intermediary that allows for such a transaction to occur at a low cost. In-order to prevent DoS attacks (aka spams) that would inevitably occur on the Stellar network, a small fee of 0.00001 XLM is associated with every transaction that occurs on the network. This fee is small enough so it does not significantly affect the cost of transaction, but large enough so it dissuades bad actors from spamming the network. The collected fee is then redistributed and added to an inflation pool. This inflation pool releases Lumens at a rate of 1% each year.

SOURCE: COINGECKO

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