Stellar (XLM) is Growing Rapidly! The Future of XLM

Why is the Stellar Lumens Price Rising?

Stellar, the ninth largest cryptocurrency by market volume, Stellar (XLM) is on the rise after the Ukrainian Government announced that it has reached an agreement with Stellar to issue a central bank digital currency (CBDC). XLM, which was priced at $0.13 USD on the morning of January 4, was the case at the time of this writing.  It is trading at 0.33 USD, up 150%.
 

Why Stellar Lumens (XLM) Matters

It is a global payment system using blockchain-based, distributed ledger technology that aims to connect all people and financial institutions around the world and reduce the cost and time of cross-border asset transfers. It was developed with the same purpose as Ripple. In addition, if there are beginners reading our article, what is XLM? We said know what. A large part of the world’s population remains unbanked. At this point, Stellar strives to provide universal access and participation in the global economy. While Ripple is a for-profit company, the Stellar Foundation has no profit motive. In addition to accepting donations, it intends to use 5% of the total
XLMs
available for its own use to cover operational costs. While Ripple has targeted the banking industry, Stellar is targeting individual users as well as financial institutions. Stellar has also partnered with IBM as part of their Hyperledger project, where they will try to solve the problem of cross-border payments globally together.
 

What is the Stellar Exit Point and the Difference with Ripple?

Stellar was founded in 2014 by Jed McCaleb, who is also one of the founders of
Ripple
. McCaleb started the Stellar project after leaving Ripple due to disagreements with his partners over the future of Ripple. Although Stellar comes from the same foundation as Ripple, it has a completely unique infrastructure with the code changes made. The average processing time of two to five seconds provides a great advantage. Additionally, many ICOs are moving away from the Ethereum base and switching to Stellar due to its speed advantage. While Ripple has a centralized structure; Stellar is also different in that it works with decentralized servers and a distributed ledger system. It is also used to create smart contracts and new tokens in its distributed system. Systematically, as with Ripple, a small part of the networks in Stellar are used for verification. This is the most important factor that increases the processing speed. The Stellar Development Foundation has approximately 90 million XLM, which is equivalent to more than 85% of the total supply.
 

How Does Stellar Lumens (XLM) Work?

Banks directly provide the necessary intermediary services to exchange or send one currency for another by cooperating with Stellar. They act as a bridge between different currencies and the stellar network. All money transactions on the network take place in the form of issued loans. For example, a user who wants to make a transfer can receive XLM in USD, while the person to whom he makes the transfer can keep it as TRY.
 

Is Stellar Lumens Mineable?

Mining is out of the question as all existing Stellar was mined before the network was launched, i.e. pre-mined.


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