27 Apr '16, 9am

Stellar Offers Lumens to Bitcoin Holders, Except in Countries on US Sanctions List

Stellar Offers Lumens to Bitcoin Holders, Except in Countries on US Sanctions List

Decentralized financial system, Stellar , invites the members of the Bitcoin community to claim their cryptocurrency , Lumens. With around 19 billion Lumens being distributed in multiple rounds to anyone based on the quantity of Bitcoin they have, people can start claiming their Lumens on July 5, 2016. Due to restrictions, the program is closed to the residents of New York , Georgia, New Hampshire , Connecticut and any countries on the U.S Sanctions list such as Iran, Cuba , and North Korea. Stellar itself is a network which, unlike regular blockchains, uses the Stellar Consensus Protocol ​(SCP) based on the federated Byzantine agreement instead of traditional mining . This speeds up the transactions process to within seconds while traditional Bitcoin transactions take roughly 15 minutes. “The Stellar Consensus Protocol (SCP) provides a way to reach consensus without relyi...

Full article: http://cointelegraph.com/news/stellar-offers-lumens-to-bi...

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