Stellar XLM

1. Summary

Ranks

Liquidity

99

Developer

95

Social

100

Momentum (beta)

53

Stack Rank™

93

Price

$0.11 -0.4%

Market Cap

$3.33B (#29)

Supply

28.24B / 50.00B

Tags

Cryptocurrency Smart Contracts Kryptowaluta Platforma smart kontraktów

More Metrics

Price
52W High price	$0.16
52W High date	21st Jul 2023 (9 months ago)
All Time High (ATH) Date	3rd Jan 2018 (6 years ago)
ATH Price	$0.88
% From ATH	-85.71%
All Time Low (ATL) Date	5th Mar 2015 (9 years ago)
ATL Price	$0.000476120000
% From ATL	26183.56%

Supply & Trading Volume
Trading Volume (24h)	$72.83M
Total Supply	50.00B
Max Supply	50.00B
Circulating Supply	28.24B

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Description

Stellar is a cryptocurrency that is designed to help the unbanked population have access to all of the financial services. It essentially allows any user to move payments across borders in a cheap, efficient way, that serves this role a lot more quickly than the existing systems.

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Stellar is a cryptocurrency that is designed to help the unbanked population have access to all of the financial services. It essentially allows any user to move payments across borders in a cheap, efficient way, that serves this role a lot more quickly than the existing systems.

You can think of Stellar as a system that connects people to financial services at low costs. The interesting part here is that Stellar was originally based on the Ripple Labs Protocol and its blockchain is the result of a hard fork, where the code was subsequently re-written to make it the way it is.

The XLM Token Explained

The Stellar Network created 100 billion Lumens (XLM) tokens when it first started. That being said, the Lumens Foundation, which is a non-profit organization, presides over how these Lumens are issued and auctions off chunks with the intention of raising funds.

These native tokens on the network serve as a bridge that makes it a lot less expensive to trade assets across borders, and all of this aims to challenge the existing payments providers due to the fact that they are known to charging high fees for a service that’s just as good.

Features of Stellar

Here’s the deal, high fees when making cross-border payments aren’t exclusive to FIAT-based payment systems, as they have also been seen on blockchains such as Bitcoin’s blockchain as well as Ethereum’s blockchain due to congestion. Stellar is special in the way that each transaction is intended to cost just 0.00001 XLM. Now, given the fact that a single unit of this cryptocurrency will set you back only a few cents, it helps ensure that you can keep as much of your money as possible.

Stellar’s operation is at times similar to other decentralized payments technologies, and this is due t to the fact that it runs a network of decentralized servers with a distributed ledger that updates every 2 to 5 seconds across all nodes. However, Stellar’s consensus protocol does not rely on the miner network to approve its transactions, and instead uses the Federated Byzantine Agreement (FBA) algorithm that enables faster processing of transactions.

In fact, each node on the Stellar network chooses another set of trustworthy nodes, and once a transaction ends up getting approved by all of the nodes within this set, it is considered approved.

Founders of Stellar (XLM)

Discussing the founders of Stellar, what you genuinely need to know about it is the fact that it is an open network that was founded by Jed McCaleb, alongside the assistance of the lawyer Joyce Kim after leaving Ripple in the year 2013 over certain disagreements about where the company was headed throughout the years.

McCaleb’s main goal is to ensure that Stellar has the ability to provide people with a way through which they can move their FIAT into cryptocurrency and eliminate the friction that people would normally experience when they are sending money on a global basis. McCaleb currently fills the role as the CTO at the company, but alongside this, he is the co-founder of what is known as the Stellar Development Foundation.

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