Stellar Lumens Announces A New Payment Network For Crypto-Fiat Trading, Tempo
Stellar Lumens has recently launched another project. The company, which is known for its many projects that were launched on the community, has been preparing for a new launch. Recently, the company has announced a new project called Tempo.
Tempo will be a cryptocurrency payment network that will be one of the biggest payment networks of any crypto exchange internationally. The company tweeted that Tempo will be a crypto network that will be used to simplify the exchange process from crypto to fiat and to create a huge payment network.
The Stellar Decentralized Exchange, also known as Stellar DEX, will use Tempo. The company has been backed by the Stellar network. By using this network, it is possible to create mobile wallets, smart devices and banking tools that can be used in many different ways.
By simplifying the exchange process that converts crypto to fiat and vice versa, Tempo intends to be one of the largest crypto companies in the world. It was created to facilitate the process of trading on online platforms.
Avoiding Bitcoin ATMs
One of the uses that could make this new enterprise popular is that this software will enable people to use its portable app’s nature, this app can be a good solution for people who are interested in avoiding Bitcoin ATMs. As they have high fees, Bitcoin ATMs can be very handy but they also are expensive and may not be the best option for everyone.
Tempo uses the technology of the Stellar Network, which is a fully open source distributed ledger technology (blockchain) that is used to make P2P payments and transactions. The company also uses the technology of Lightyear.io, which helps investors to integrate software.
An Efficient Way To Use The Stellar Network?
The company affirms that one of the main reasons why Tempo can be a good idea is because the Stellar DEX stores the order book and uses matchmaking technology to settle the transactions on the chain. This technology is considerably versatile and can be used to create other decentralized apps that need this type of tech.
According to users on the internet, it looks like this might be a good way to use XLM to trade for USD or even Euro. It has a high liquidity and can be efficient for international transactions. Users have also commented on how Stellar’s technology might end up being more effective than Ripple and also have other dapps on its network that are more interesting.