Put simply, Stellar is an open network that allows money to be moved and stored. When it was released in July 2014, one of its goals was boosting financial inclusion by reaching the world’s unbanked — but soon afterwards, its priorities shifted to helping financial firms connect with one another through blockchain technology.
The network’s native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers, who often charge high fees for a similar service.
If all of this sounds familiar, it is worth noting that Stellar was originally based on the Ripple Labs protocol. The blockchain was created as a result of hard fork, and the code was subsequently rewritten.
Stellar price today is $0.166450 USD with a 24-hour trading volume of $304,013,934 USD. Stellar is down 3.56% in the last 24 hours. The current CoinMarketCap ranking is #11, with a market cap of $3,618,137,379 USD. It has a circulating supply of 21,737,142,026 XLM coins and the max. supply is not available. The top exchanges for trading in Stellar are currently Binance, Huobi Global, OKEx, Binance.KR, and CoinBene. You can find others listed on our crypto exchanges page.
What Makes Stellar Unique?
Fees are a sticking point for many. However, high costs when making cross-border payments aren’t just exclusive to fiat-based payments solutions such as PayPal — transaction fees have also been known to go through the roof on the Bitcoin and Ethereum blockchains because of congestion.
Stellar is unique because every transaction costs just 0.00001 XLM. Given how one unit of this cryptocurrency only costs a few cents at the time of writing, this helps ensure that users keep more of their money.
Few blockchain projects have managed to secure partnerships with big-brand technology companies and fintech firms. A few years ago, Stellar and IBM teamed up to launch World Wire, a project that allowed large financial institutions to submit transactions to the Stellar network and transact using bridge assets such as stablecoins.
Although other blockchains have community funds, meaning that grants can be given to projects that help further the ecosystem, Stellar allows its users to vote on which ventures should be given this support.
Borderless. Limitless. Powerful.
Stellar Coin makes it possible to create, send, and trade digital representations of all forms of money: dollars, pesos, bitcoin, pretty much anything. It’s designed so all the world’s financial systems can work together on a single network.
Stellar makes money better.
Stellar’s API and SDKs are ready to help you transform the world of finance, and the network’s currency connections could give even a small company the power and reach of an international bank. Here’s what you can build with a few lines of code:
Global Payment Apps
Leverage the many currency-backed tokens already on the Stellar network.
Use Stellar’s built-in decentralized exchange for crypto, forex, or securities. Users can swap between tokens using simple functions built into the protocol.
Power payments of any size with Stellar’s low, flat fees and fast transactions.
Built on Stellar
Large enterprise companies and companies as small as single-dev startups have chosen Stellar to move money and access new markets.
How Is the Stellar Network Secured?
This network is secured using the Stellar Consensus Protocol, which is described as having four main properties: “Decentralized control, low latency, flexible trust, and asymptotic security.”
Through SCP, anyone is able to join the process of achieving consensus, and no single entity can end up with the majority of decision-making power. Transactions are also confirmed cheaply and within a few seconds — and safeguards are in place if bad actors attempt to join the network.
Where Can You Buy Stellar (XLM)?
Stellar says XLM is listed on an array of top exchanges — including Binance, Coinbase, Kraken, Bittrex, Bitfinex, Upbit and Huobi. It’s also common to convert fiat into Bitcoin before purchasing altcoins, and you can find out more about how this is done with the guide.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.