Thank you for reading, I am Dukefish, an EOS advocate and this is a standalone article reviewing the blockchain Stellar Lumens and an entry to the latest announced Trybe competition. Though as always, this article is not investment advice just a special report to provide information and an overall review of the Stellar Lumens blockchain. The greatest knowledge I can pass on to you is, make sure that you Do Your Own Research!
Stellar Lumens (XLM) is the number #6 cryptocurrency in terms of market cap and is chasing at EOS’s heels for the number #5 spot by just a few hundred million. Stellar is a blockchain network aiming to becoming the main platform for quick and easy transactions between the banking sector, existing payments systems (VISA, MasterCard etc). As well as ease of access for your average Joe . It claims it will be able to “Integrate to move money quickly, reliably, and at almost no cost.”
Though known as the Stellar Lumens, this name is a mash up of the two core components of the network. The network is referred to as the Stellar network and the native token is referred to as a Lumen. The XLM is the three letter code for the Network, in the same way that Bitcoin (BTC), Ethereum (ETH) or US Dollar (USD), British Pound (GBP) all have an abbreviation. When you will see XLM listed on exchanges and referenced in numerous articles, news outlets media etc you know that it is Stellar Lumen.
The network was launched in 2014 as a fork of Ripple but the Stellar team reworked and edited the code to create a brand new product, 100 Billion XLM were issued and since launch there has been a fixed inflation policy at the rate of 1% each year. The network also collects a base fee for each operation performed in a transaction and is automatically added to an inflation pool. The community is able to vote and influence where this pool funds are spent, which is a great feature for their network.