Jed McCaleb Promoting Innovations In Cryptocurrencies Through Stellar

Jed McCaleb is one of the influential figures in the cryptocurrencies industry. He is one of the early developers in the industry. He joined the industry in 2010 after bitcoin was invented. His interests in alternative currencies had always been there even before bitcoin was invented. He had thought of a currency that could not be controlled by governments as it currently happens. This dream came true after bitcoin was created in 2009. There is no one central location where anyone can pinpoint as the source of the coins. Essentially, even the governments have no control over the currencies.

It was said by Jed McCaleb on LinkedIn that learned about bitcoin for the first time through an article posted on Slashdot. A link to Bitcointalk accompanied the article. When he read about bitcoin, he developed interests which made him want to know more about it. At the time, Bitcointalk only had 200 subscribers. After the article was published, the followers went up to 2000 immediately. This is the article which exposed many people to cryptocurrencies after it emerged. In fact, many of the early innovators in this industry were people from this group.

According to Jed McCaleb, he started working on developing the industry. In 2011, he made his first innovation which was creating the first centralized platform for bitcoin exchange. The platform was known as Mt. Gox. This was one of the platforms among many in the industry at the time, but it was unique. As a centralized exchange, it meant that one did not need to cooperate with other people to transact. It gained prominence in a short time. At the height of its popularity, it was handling more than 80% of the bitcoins transactions.

McCaleb needed to concentrate on resolving other problems facing the industry. He, therefore, sold Mt. Gox to a software developer. In 2014, the platform was hit by hackers, and this led to the fall of the platform.

Jeb McCaleb is currently the co-founder of Stellar Development Foundation, an organization which is engaged in projects of creating a payment network that will allow payments using cryptocurrencies. McCaleb is optimistic that this new project will succeed in offering a new secure way of transacting using cryptocurrencies.

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