Stellar Lumens (XLM) recently announced that a Malaysian digital token issuer, PinkExc is planning to move to their blockchain from their current Ethereum one. The company also informed that Utilex will soon replace PinkExc and hence will be run on Stellar blockchain. In the message they also stated that they made the decision due to Stellar blockchain technology being able to meets their needs. It is a faster, cheaper and more reliable asset value transaction token.
Company made the official announcement on their official Twitter page. It stated: “Malaysian token issuer to move from Ethereum to Stellar. PinkExc currently operates several cryptocurrencies teller machines in the country, and hosts an online exchange. The project utilized blockchain to raise fund for expansion, besides as a utility medium for transactions”.
While the company confirmed that Ethereum blockchain is simple and fast to create ERC20, it still requires measurable efforts to work on it. “ETH had a solid development team but Stellar has evolved much more than Ethereum. Stellar offers built-in capabilities that can support multi-signature authorizations, generate dividends and limit who can hold tokens and more. Most importantly, Stellar features a decentralized exchange where any token issued through Stellar can be instantly traded without relying on a third-party exchange to list the token. This means that newly issued tokens can be traded in one day, which is really fast”, continued the message.
More from Stellar Lumens (XLM)
Earlier, Stellar reported that a Canadian exchanger, National Digital Asset Exchange Inc. (NDAX) had listed XLM on their platform. They made the announcement on November 28 which stated that the platform will be offering XLM/ CAD trading pair. In addition, the company informed that users can trade the stated pair on the platform for free of charge. The deadline for free transactions is January 31st next year.