To the casual trader or crypto enthusiast, Stellar is not as exciting a cryptocurrency project as some of the big time players like Bitcoin, Ripple, and Ethereum. Stellar, after all, might seem to be shedding some of its gains made earlier last month. However, if the price movement for XLM is anything to go by, Stellar is actually performing well, perhaps even better especially when compared to Bitcoin.
Stellar Lumens currently sits at position 7 on CoinMarketCap with a market capitalization of about $5 billion. Compared to Bitcoin $100 billion, that’s a far cry, but the Stellar’s community has been growing stronger with initiatives that are community-centric and solutions-oriented.
The 7th edition of the Stellar Build Challenge
In fact, stellar has been fast-tracking the development of its platform with the announcement of the 7th Stellar Build Challenge that has made the XLM community excited about contributing to the project. The stellar team announced the event which has so far been held six times as a community-driven challenge set up by the Stellar Lumens team.
Goals of the challenge
The overall goals of the 7th edition of the Stellar Build Challenge are about enabling collaboration and building solutions. In fact, previous challenges have resulted to pretty important submissions such as the Senseo Stellar iOS SDK client library and the Horizon API (an exchange platform built by the community). Another important submission that even became a feature of Stellar’s platform as a result of the challenge is the Stellar support protocol for the Nano S ledger wallets.
Basically, the Stellar Build challenge has resulted in a variety of notable innovations and community-oriented solutions which is a great thing. The challenge allows participants to not only work hand in hand with the stellar team of developers but also enables the creation of open-source projects that make Stellar’s ecosystem better.
What it entails
For this edition, Stellar will be looking for developers who can work on expanding the project’s functionality, improve user experience and even enhance some of the features to mention but a few. From next month, June 1st to be specific, participants will be able to submit their projects by announcing it on GalacticTalk.org. The form submission process will continue all the way until August 15th and winners will be announced on 30th the same month.
The awarding process will be based on merit and the judges will consist of developers from the Stellar Development Foundation. Jed McCaleb (the CTO of stellar) will make the final decision on the winners. With previous challenges, winners managed to walk away with thousands of XLM tokens in rewards. It will be exciting to see the Incentives for participation that will be included in this edition. After all, participants will have an opportunity to collaborate directly with the Stellar team of developers, which is a good thing.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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