Stellar Lumens (XLM)
Everything you need to know about Stellar Lumens
Stellar (XLM) is the native token of the Stellar Network. A rapidly fast network designed for payments with extremely low fees (typically less than 0.02 XLM). It is a decentralized protocol for digital currency to fiat money transfers. Stellar aims to connect banks, payment systems, and individuals quickly and reliably.
Purpose: Stellar's primary goal is to facilitate cross-border transactions between different currencies in a quick and affordable way.
Stellar Network: The network operates on a decentralized, open-source blockchain. It enables transactions between different currencies and assets through its distributed ledger.
Lumens (XLM): XLM is the native digital currency of the Stellar network and is used to facilitate multi-currency transactions and provide anti-spam security measures.
Transaction Speed and Cost: Stellar is known for its fast transaction speeds and low costs, making it an attractive platform for international money transfers and microtransactions.
Decentralized Exchange: Stellar includes a built-in decentralized exchange that allows users to buy and sell various currencies or assets.
Non-Profit Organization: The Stellar network is developed and maintained by the Stellar Development Foundation, a non-profit organization. The project was cofounded by Jeb McCaleb a well-known entrepreneur in the crypto space.
- Frequently asked questions
-
What's the difference between XLM and XRP?
Given that both XRP and XLM were co-founded by Geb McCaleb and both provide low-cost cross-border transactions they do target different markets.
XLM is focused on facilitating low-cost, cross-border transactions between different currencies for individuals and small enterprises. XRP is primarily aimed at providing solutions for banks and financial institutions to enable quick and inexpensive international transfers.
Technically there are key differences in their network - XLM is far more decentralized too. Both have unique features and serve different segments of the digital finance world.Was this helpful?
- Links & Socials
- Website
- @stellarorg
- White paper