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STELLAR ( $XLM ): How Stellar Can Make Your Money Better?


STELLAR ( $XLM ): How Stellar Can Make Your Money Better?

Stellar Lumens An Open Network For Storing And Moving Money. What is Stellar?

Stellar was introduced in 2014 by former Ripple co-founder Jed McCaleb. McCaleb left the Ripple project because of different perspectives on its future development. Since its creation, Stellar’s code has been completely changed, rebuilt, and differs from Ripple in that it bears no resemblance to Ripple’s code today.

Stellar has its cryptocurrency called Lumens, denoted by the symbol XLM. All three terms, Stellar, Lumens and XLM, are used interchangeably, but stellar is a blockchain network, the lumen is a cryptocurrency, and XLM is the trading symbol.

Stellar is an open-source, proper peer-to-peer payment technology or protocol that aims to bridge financial institutions, greatly reducing the cost of asset/value/money transfers and shortening the transfer time.

Stellar is aiming to allow any institution to create a pegged token on the Stellar chain. To do this, they would use anchors, which are essentially ways to deposit fiat or assets and receive the same asset but in a tokenised form. These tokenised assets would then be truly borderless and allow all of these different financial institutions to interact on a single chain with no middlemen.

The mining fee/transaction fee for transfers from the Stellar network is only 0.00001 Lumens (XLM). So the transaction fee is meager.

Stellar runs on decentralised servers and underlying distributed ledger technology (Blockchain). Just like how Ripple works, only a small fraction of nodes are used as verification nodes. Thus, transactions are processed faster. That is, verification is ensured. In other words, the transaction speed in the Stellar network is relatively high compared to Bitcoin or Ethereum. On the other hand, this advantage brings some cost, as in Ripple.

Most people know Stellar is the Lumen or...

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XLM -16.44% · · 16h

XLM; an open network for money

Stellar makes it easy to create, send, and trade digital representations of all forms of money—dollars, pesos, bitcoin, pretty much anything.