Facebook denies partnership with Stellar

Facebook denies partnership with Stellar

Cheddar reports that Facebook denies the negotiation of a partnership with Stellar (XLM). Earlier there was news that Facebook and Stellar consider a potential partnership, which planned the creation of the blockchain on the basis of Stellar.

The press-Secretary of Facebook Said that the company “is not involved in any negotiations with Stellar, and we are not going to use their technology.”

The statement was made in response to the message to Business Insider that the two companies discussed a potential fork of the main network in the framework of Stellar work on blockchain project Facebook. Sources of Stellar, told Business Insider that “for Facebook, it would be advisable to record transactions in a distributed registry, such as the Stellar”.

Last month Evan Cheng, technical Director of Facebook, moved to the same position in the newly created blockchain team. Initially the team was formed by David Marcus, who led the work on Messenger.

Later it became known that Facebook is studying the creation of its own cryptocurrency, despite the fact that at the beginning of this year on the platform was banned all cryptocurrency ad.

Stellar was established in early 2014 as a technology to make payments, built on the Ripple Protocol, although since then he has undergone significant changes.

XLM is in the top 10 best cryptocurrencies in the Coinmarketcap rating and is trading at the level of 0.21 United States dollar.

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