Stellar (XLM) - an open network that allows you to move and store money. This is a decentralized peer-to-peer network that is often considered the main competitor of XRP, even if these systems offer different solutions to the same task (payments). The difference is that XRP is reaching out to banks, while Stellar is a form of payment, designed from the ground up for the masses. Quick and inexpensive everyday purchases - that's what the project is good for.
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What is Stellar (XLM)?
The Stellar Network – a decentralized peer-to-peer structure and Lumens (XLM) is the token that powers it. The idea behind Stellar is that anyone, using its services, can transfer anything from traditional currencies to tokens that represent both new and existing assets (dollars, euros, bitcoins, stocks, gold and other valuable tokens). These assets can be exchanged between users with minimal fees by using Lumens.
Jed McCaleb co-founded Stellar with attorney Joyce Kim after leaving Ripple in 2013 over disagreements over the company's future direction. McCaleb's goal - for Stellar to be able to give people a way to move their fiat to crypto — and eliminate the friction, people typically face, when sending money around the world.
He is currently the project's CTO and co-founder of the Stellar Development Foundation. This non-profit organization aims to unlock the world's economic potential by making money more flexible, markets more open and people more powerful.
What is the value of the project?
Stellar is unique in that each transaction costs only 0.0001 XLM. Given that one unit of this cryptocurrency is only worth a few cents at the time of writing, this helps to ensure that users save more of their money.
Why should you trust this project:
| 1 | A few years ago, Stellar and IBM teamed up to launch World Wire. This is a project that allows large financial institutions to send transactions to the Stellar network, using bridge assets such as stablecoins. |
| 2 | Other blockchains have public funds, which means that grants can be given to projects that help to grow the ecosystem. Stellar allows its users to vote on which businesses should receive this support. |
Stellar's value rests on the use cases for this cryptocurrency, as well as its ability to transfer digital assets across borders cheaply and efficiently.
Buying a token
A total of 100 billion XLM was issued when the Stellar network launched in 2015, but things changed since the release date. The total supply is currently 50 billion XLM and the circulating supply is currently 20.7 billion. You can buy Stellar on a wide range of leading exchanges, including:
- Binance;
- Coinbase;
- Kraken;
- Bittrex;
- Bitfinex;
- Upbit;
- Huobi.
It will be possible to buy, sell or exchange XLM for any other cryptocurrency in just a few seconds. There is no mining or staking on the platform.