Stellar to Implement Lightning Technology

Stellar has reported that it aims to solve the problem of scalability and improve speed, throughput and privacy by implementing the possibility Lightning payments 
24 March 2018   1149

Lightning is a scaling solution for distributed payment networks, originally proposed for the Bitcoin blockchain. Lightning is designed to allow users to make off-chain payments and to support cross-protocol payments without having to trust any parties in between.

Stellar has reported that it aims to solve the problem of scalability and improve speed, throughput and privacy by implementing the possibility Lightning payments, which can be confirmed instantly, has negligible fees and doesn’t have to become public. Lightning should reportedly have a huge positive effect on Stellar’s long-term scalability and security.

stellar lightning timelineStellar Lightning Timeline

Stellar stated in an announcement that Stellar creator, Jed McCaleb, first explored Lightning back in 2015, and the new implementation still reflects the cleverness of his original plan, but with the necessary improvements to make Lightning right.

At the moment of press, these are main market parameters of Stellar:

Average price: $0,238653
Marketcap: $4 426 760 422
24h volume: $46 490 000

Messari to Found Stellar Inflation Bug

Someone was able to issue 2.25B XLM in April 2017 ($10M at that time)
28 March 2019   361

Analysts of the Messari made public a serious inflation bug that occurred on the Stellar network in April 2017. This incident went almost unnoticed.

According to them, a certain attacker using the bug in the MergeOPFrame :: doApply function of the Stellar protocol created about 2.25 billion XLM (at that time about $ 10 million).

Subsequently, the coins were transferred to exchanges and probably sold in the first half of 2017. Analysts were able to detect the history of transactions related to bug through the Horizon client, which is not available in block browsers.

This illicit inflation represented nearly 25% of circulating supply in April of 2017, but public disclosures at the Stellar Development Foundation (“SDF”) regarding the event were relatively muted, and no media seems to have previously reported on the bug or the SDF’s subsequent decision to burn an equivalent amount of XLM from its community reserve to offset the illicit inflation.

Messari Bug

The preliminary fix for the bug was introduced by Stellar founder Jed McCaleb on April 6, but until his official release on April 30, the attack vector remained open.

In turn, representatives of Stellar stated that they had mentioned the use of the bug a couple of times in the release notes and since then have substantially revised the standards for disclosing information.

We recognize that Stellar has since become significant financial software, and our disclosure standards have grown to reflect that reality. There’s been no notable bug since, and if there were we would disclose it in full detail as soon as it was patched.

Stellar Team

In November 2018, transactions for billions of XLM tokens, made at the same address, were seen on the Stellar network. The total amount of transfers then exceeded the coin offer available on the market, but it soon became clear that the transactions were fake.