Stellar released their report for 2022 this past week. Stellar reports extraordinary development in a number of its industries despite the prolonged winter. Their network statistics show that the overall payment growth between 2021 and 2022 was 176%.
Denelle Dixon, the founder and CEO of Stellar, asserted in a blog post that the global payment network will achieve “astronomical” results in 2022 despite a protracted downturn in the market. The primary Ripple competitor Stellar celebrated 1 billion transactions in 2017. However, Stellar was able to complete 1 billion operations in a single quarter this year. They currently have more than 7 million accounts on their network.
Their data showed a 73% increase in total platform assets as well as a staggering 92% increase in processed operations. Between 2021 and 2022, their total compensation rose by 176%, from $125,143,510 to $345,923,663. Additionally, they have seen a 1.9x increase in daily transaction volumes since the year’s beginning.
Dixon went on to say that without the ongoing network development, none of these accomplishments would have been possible. This demonstrates that Stellar’s plan to improve network innovation and stability was effective.
Stellar’s objectives by 2023
Their top priorities for 2022 are network innovation and scalability. They simultaneously increased network membership and promoted diversity and inclusivity. As the new year approaches, they will consider fresh strategies for responding to the constantly evolving blockchain and fintech industries. Soon, a date will be set for a quarterly webinar to go over their roadmap in greater detail. Dixon believes that everyone should take a moment to relax. In her own words:
The momentum we’ve created has given us a better chance than ever to realize our goal of enabling more equitable access to the world’s financial institutions. It’s been a long, challenging year. Let’s all take the upcoming weeks to unwind and rekindle our relationships with our loved ones before starting a fresh, even more exciting 2023. Salutations to the entire Stellar ecosystem and community!
Final Thoughts
It’s been a very long and challenging year. In the current bear market, many investors and companies are having difficulty. However, Stellar gave us fresh reasons to be hopeful. Blockchain technology is still in its infancy and is developing quickly, despite the fact that the market may not be favorable for investments right now. In the same way that electric vehicles (EVs) are now replacing gas-powered cars, blockchain will eventually change the world.
