What is Stellar?
Most novice cryptocurrency traders and investors can only name one cryptocurrency, Bitcoin because that cryptocurrency has the most ubiquitous name recognition. As of this writing, there may be over 5,000 cryptocurrencies and counting.
In the aftermath of the 2017-2018 Bitcoin mania, any other cryptocurrency was known as an “altcoin” whether deserved or not. Stellar XLM is one of those alternative coins.
Stellar is a cryptocurrency-powered non-profit organization founded in 2014 by cryptocurrency pioneer Jed McCaleb and venture capitalist Joyce Kim. McCaleb co-founded the Ripple cryptocurrency and the Mt. Gox cryptocurrency exchange.
The Steller ecosystem was created in the aftermath of a hard fork of Ripple.
Steller was envisioned as a philanthropic alternative and improvement on Bitcoin and the traditional fiat currency transactional system. Steller aimed to create a cheap, efficient, and expeditious payment system that could unite financial institutions in the developed and developing worlds like never before.
The developers of Steller want to extend personal finance empowerment opportunities to disadvantaged people as much as Westerners and divine new transactional opportunities.
The Stellar blockchain is an open-source protocol controlled by the Stellar Consensus Protocol. Instead of mining for Lumens (XLM), the signature Stellar cryptocurrency, Lumens, is earned by transactions via the Federated Byzantine Agreement.
This is a quicker, efficient, and budget-conscious way to transact cryptocurrencies. The XLM lumen is basically a cryptocurrency bridge that facilitates cheaper transactions across international with fiat currencies.
Transacting on Stellar is straightforward. You can deposit fiat currencies into a Stellar “anchor.” An anchor is a real-world financial institution or bank that acts as a real-world bridge to Stellar blockchain.
The fiat currency equivalent of Stellar Lumens is then deposited from the anchor into a virtual wallet as credits. Those XLM tokens can then be transferred almost instantaneously within a few seconds.
Each Stellar transaction fee costs 0.00001 lumens per transaction, which is essentially zero.
A Stellar Future
If adopted for wider use, Stellar can maximize wider money transference over international borders while including more underbanked peoples into the financial system.
What are Stellar Frequenty Asked Questions?
Where does Stellar (XLM) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Stellar currently ranks in position 11 out of the thousands of cryptocurrencies. It is also important to consider Stellar‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Stellar has a market cap of $ 5,971,223,879, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 630,120,638,399, Litecoin at $ 9,454,571,234, Ethereum at $ 159,827,898,096, Tether at $ 24,973,079,833, and XRP at $ 12,498,092,787.
What is the price of Stellar (XLM) today (updated in realtime)?
The current price of Stellar is $ 0.270150 in USD. (The price in Euros is 0,221898 €; and the price in Bitcoin is Ƀ 0.00000800 BTC.)
How has Stellar (XLM) performed recently?
Stellar‘s price has decreased in the last 24 hours by -0.39%. This compares with a seven day change of -10.78%. The trading volume over the last 24 hours was $ 736,149,354. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is Stellar (XLM) official website?
Links to Stellar‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has Stellar (XLM) performed well historically?
Here is a chart showing how Stellar has performed historically.
Where Can I Buy Stellar (XLM)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
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