Community

Anatomy of a Stellar Scam

Paul Selden of StellarGuard breaks down the scam tactics of the Stellar Activity "hard fork" and how they steal secret seeds.‬

SDF

SDF Ecosystem Updates: Community Vision

SDF lays out their updated community plans, including local gatherings of Stellar users called "Clusters", a Stellar global conference, r/Stellar subreddit governance via polls and points, a way for the community to participate in lumen awards called the Stellar Community Fund, and a hint at a new Stellar.org website coming in 2019.

Wallets

Stellar Hardware Wallet on Kickstarter

Pigzbe launched a Kickstarter for their hardware wallet.

Wallets

BlockEQ acquired for $12MM CAD

Coinsquare - a Canadian cryptocurrency exchange - acquired Stellar wallet BlockEQ. BlockEQ will remain a separate entity and will work with Coinsquare to launch Coinsquare’s upcoming stable coin.‬

Custody

BitGo Adds Lumens

BitGo - a multsig and custodial wallet provider - officially announced support for lumens as well as federated addresses.

Core

Debate Over Deprecating Data Entries

Recent proposals involving the use of data entries have inspired debate over whether data entries should be used or deprecated.

Network

Horizon DDOS Attack

SDF’s Horizon server experienced a brief DDOS attack on Wednesday. Friendly reminder to use your own Horizon server if you are running your own service and need reliability.

Network

209,780,640 Operations in 2018

OrbitLens of StellarExpert published an infographic illustrating the growth of the network.

CAP

Adversarial Transaction Set Ordering

CAP-0014 proposes a change in transaction ordering to prevent transaction front-running.

CAP

Sender Pays Trustline Base Reserve

CAP-0013 proposes core changes that would cause Stellar assets to behave more similarly to ERC-20 tokens, allowing an account to add any asset to another account as long as the sending account covers the increased base reserve for the receiving account. It also proposes updates to the AccountMerge operation that would allow non-lumen assets to be merged into the new account without having to manually remove each trustline (which would be renamed to balances). This is an alternative to SEP-0013

CAP

Relative Account Freeze

CAP-0011 introduces a time lock at the account level to help smart contract writers "sequence time based events easily and circumvent the need for periodic updates in time based protocols".

CBDC

IMF Makes the Case for CBDCs

The Chairwoman of the IMF - Christine Lagarde - made a case for CBDCs at the Singapore Fintech Festival this week, and the IMF released a paper proposing a conceptual framework for assessing CBDC adoption.

“I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy.”

“This is not science fiction. Various central banks around the world are seriously considering these ideas, including Canada, China, Sweden, and Uruguay. They are embracing change and new thinking—as indeed is the IMF.”

CBDC

IBM Blockchain CTO on CBDCs

IBM Blockchain’s new CTO Stanley Yong speaks with CNBC about CBDCs: “We are quite far along in the discussion about how central bank digital currencies can be used for wholesale purposes.”

Consensus

MobileCoin Contributes to SCP

MobileCoin contributed the "aCounter" optimization to an updated draft of the Stellar Consensus Protocol white paper.

CAP

Fee Bump Account

CAP-0010 proposes a solution to scenarios where transactions get stuck because of a fee increase or insufficient fees.

CAP

Exterior Immutable Accounts

CAP-0009 introduces new account flags that can prevent any transactions not signed by your account from modifying your account. This prevents accidental or malicious changes to your account when you are merging it or removing trustlines.

SEP

Bootstrapping Multisig Coordination

Paul Seldon of StellarGuard and Nikhil Saraf of Interstellar put forward a standardized approach for multisig accounts to coordinate signatures across wallets and signing services.

Consensus

New Quorum Monitor

Stellarbeat has added a quorum monitor/explorer. “The quorum monitor gives more insight into the quorum set connections of the Stellar network, active nodes, failing validators, clusters. It also allows you to toggle nodes on/off and see the effects on the network.”

CAP

Deterministic Account Creation

In CAP-0007, Jeremy Rubin introduces a new operation that creates an account with a known starting sequence number, or a "deterministic account". Right now, accounts are created with a random sequence number. This prevents the presigning of transactions for an account before it is created, something that may be important for a contract that "must create an account as a part of its settlement" (e.g. Starlight).

SEP

Account Transfer Permissionless Payment Protocol

In SEP-0013, Jeremy Rubin proposes a way to send an asset to someone who does not have the necessary trustline and is not online at the time of the payment. This is an alternative to another potential proposal that allows the sender to add and pay for a trustline on the recipient's account and requires a core protocol change.

Wallets

$125MM Lumen Airdrop with Blockchain.com

Wallet provider Blockchain.com is airdropping up to 500MM lumens (~$125MM) to their ~30MM users in partnership with SDF. After completing a KYC process, users can receive ~$25 worth of lumens. Lumens are the fourth asset to be added to the Blockchain wallet and the first asset to participate in Blockchain’s new airdrop program in what appears to be the largest airdrop ever.

Core

“Should we push to get rid of inflation?”

McCaleb asked if the network should “push to get rid of inflation”. This has inspired passionate responses and below are summaries of some of the viewpoints and questions.

Keep the current inflation mechanism

  • Inflation replenishes lumens lost over time as people lose their secret seeds.
  • It provides a way to recycle transaction fees.
  • It signals that lumens are not an investment and incentivizes use instead of holding.
  • It draws in and retains retail investors who see it as a “dividend payment”.
  • Many retail investors don’t see the current inflation mechanism as something that devalues each lumen.
  • Changing this would result in backlash from retail investors.

Remove the current inflation mechanism

  • Network performance will drag as more accounts are created.
  • Inflation pools have negated the purpose of inflation. If everyone receives the same amount, people are not incentivized to use - they hodl instead. The theoretical value of each lumen goes down while the value of each person’s lumen balance stays the same.
  • Without pools, the current mechanism makes the rich richer.

The prospect of removing the current inflation mechanism inspires several questions:

Should lumens be inflationary? If yes:

  • Should the network give everyone inflation equally, or should it incentivize specific behaviors like validating ledgers or providing asset liquidity?
  • Can the chosen mechanism be designed to reduce the chance of gaming the system?

If no:

  • Should the network still recycle fees? If so, how? Using something similar to the current inflation mechanism?

Wallets

Lumens on Trezor

Trezor support for lumens has been implemented. It is currently only available in a Trezor-hosted version of the Stellar Account Viewer and is not yet available in the Trezor Wallet app itself. Until other wallets and the Stellar Laboratory support Trezor, you cannot perform any other operations beyond sending lumens.

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