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Stellar

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Description

What does Stellar do?

Stellar aims to be one of the fastest, cheapest, and most flexible payment and exchange platforms. Stellar’s native currency is referred to as a Lumen (XLM). XLM can be used for almost instant and decentralized cross-border transactions. To use Stellar, you must upload funds and pay a nominal fee to gain access to the network. Once your account is credited, you can start making transactions on the Stellar network. You can transfer your funds anywhere in the world nearly instantaneously and with minimal fees compared to more traditional money transfer services.

You can also settle your transaction in any local currency you need. Using Stellar you can transfer your funds anywhere in the world nearly instantaneous with minimal fees, while settling the transaction in virtually any local currency.

What is XLM (Stellar coin) used for?

XLM, also known as Lumen, is primarily used as a means of transfer. This can be in the context of sending XLM to other people, or the Stellar platform using XLM as a bridge currency for making cross border fiat to fiat transactions. XLM is also used to pay for fees associated with transactions. There is no mining and there is no staking, but 1% of the total supply is released to users each year which keeps a steady 1% inflation rate.

How can XLM (Stellar coin) appreciate in value?

Stellar lumens’ price, like that of all cryptos, is dictated by supply and demand. There are just over 100 billion XLM that exist with a 1% yearly inflation rate. In the past, Stellar has gained serious traction and publicity. The project has the potential to be seen as the primary solution for national and international transactions, knocking out companies such as PayPal. If Stellar gains this type of recognition, then the platform may onboard millions of users, creating demand that surpasses the increasing rate of supply.

What are the differences between Stellar and its competitors?

Ripple is Stellar’s largest competitor as XLM is a fork of XRP. They both compete in the international payments space, offering lightweight, low-cost offerings. XRP (as a currency) is centralized, while XLM is decentralized. Many enthusiasts appreciate the decentralized aspect of XLM versus Ripple’s centralized XRP. Still, Ripple has the first mover advantage, and a much larger speculative base than Stellar, with interest coming from major banks and institutions.

  • Mainnet Launch: Yes
  • Open Source: Yes
  • Consensus Type: Stellar Consensus Protocol (SCP)
  • Technology: Blockchain
  • Total Coin Supply: 104,125,061,584 XLM
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Description

What does Stellar do?

Stellar aims to be one of the fastest, cheapest, and most flexible payment and exchange platforms. Stellar’s native currency is referred to as a Lumen (XLM). XLM can be used for almost instant and decentralized cross-border transactions. To use Stellar, you must upload funds and pay a nominal fee to gain access to the network. Once your account is credited, you can start making transactions on the Stellar network. You can transfer your funds anywhere in the world nearly instantaneously and with minimal fees compared to more traditional money transfer services.

You can also settle your transaction in any local currency you need. Using Stellar you can transfer your funds anywhere in the world nearly instantaneous with minimal fees, while settling the transaction in virtually any local currency.

What is XLM (Stellar coin) used for?

XLM, also known as Lumen, is primarily used as a means of transfer. This can be in the context of sending XLM to other people, or the Stellar platform using XLM as a bridge currency for making cross border fiat to fiat transactions. XLM is also used to pay for fees associated with transactions. There is no mining and there is no staking, but 1% of the total supply is released to users each year which keeps a steady 1% inflation rate.

How can XLM (Stellar coin) appreciate in value?

Stellar lumens’ price, like that of all cryptos, is dictated by supply and demand. There are just over 100 billion XLM that exist with a 1% yearly inflation rate. In the past, Stellar has gained serious traction and publicity. The project has the potential to be seen as the primary solution for national and international transactions, knocking out companies such as PayPal. If Stellar gains this type of recognition, then the platform may onboard millions of users, creating demand that surpasses the increasing rate of supply.

What are the differences between Stellar and its competitors?

Ripple is Stellar’s largest competitor as XLM is a fork of XRP. They both compete in the international payments space, offering lightweight, low-cost offerings. XRP (as a currency) is centralized, while XLM is decentralized. Many enthusiasts appreciate the decentralized aspect of XLM versus Ripple’s centralized XRP. Still, Ripple has the first mover advantage, and a much larger speculative base than Stellar, with interest coming from major banks and institutions.

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