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Prices are in USD.
|Market Cap Rank||#18|
|Price Change 24H||0.00%|
|Price Change Percentage 24H||-0.69%|
|Market Cap Change 24H||$-55,052,236.00|
|Market Cap Change Percentage 24H||-0.74%|
|Circulating Supply||23,149,088,768 xlm|
|All Time High||
January 3, 2018
|All Time Low||
March 5, 2015 -
|Website||https://www.stellar.org/ , https://stellarcommunity.org/|
|Explorers||https://dashboard.stellar.org/ , https://steexp.com/ , https://stellar.expert/explorer/public/|
|Wallets||ledger.com , trezor.io , https://crypto.com/en/defi/wallet/|
|Community||https://twitter.com/stellarorg , https://bitcointalk.org/index.php?topic=1428573.0 , https://reddit.com/r/stellar , http://slack.stellar.org/ , https://www.facebook.com/729338767130703 ,|
Stellar is a blockchain project that provides a variety of services. It provides a cryptocurrency focused on reducing the charges of money transfers across borders. Additionally, it focuses on reducing the time required in cross-border transfers.
Further, the Stellar blockchain allows users to launch a variety of decentralized applications. They can launch their tokens and even create decentralized exchanges. Stellar also uses smart contracts. This is what powers the launch of decentralized applications.
Therefore, Stellar is going against a giant in the industry in Ethereum. Additionally, it is competing against the Ripple blockchain. These two blockchains are industry giants that rank in the top five in market cap share. Therefore, Stellar has a lot of work to do to catch up with these two projects.
This is not to say that Stellar has a poor performance in the markets. It currently ranks 14th in market cap share. Therefore, it does have significant adoption and a community behind it.
Stellar developers are keen to remind individuals that the project is eco-friendly. It requires little computational power to process transactions on this blockchain. This is unlike blockchains like Ethereum and Bitcoin.
Interestingly, Stellar is older than Ethereum. However, it does have one disadvantage. The coin has cashlike delays in transactions. Therefore, it does not drastically improve transaction time. Luckily, Stellar dramatically reduces the cost of transactions. Transactions on this blockchain cost less than a penny.
Further, the platform can connect to real-world assets. People can represent items digitally and trade them on the Stellar blockchain. This includes things like real-world currencies. The goal of this is to allow people to transfer funds fast across the world.
Consequently, Stellar developers believe that the coin is better in most use cases. They stress that it is best for remittances. They aim to reduce the fees charged by institutions handling such transfers.
Additionally, Stellar provides businesses with anchors. These anchors connect businesses using Stellar to traditional banking platforms. This helps them process fiat currencies. This is what allows Stellar to represent real-world currencies. Additionally, anchors handle any off-chain processes. These include regulatory requirements like KYC.
No, it is not possible to mine on this blockchain. This is because the consensus mechanism that Stellar uses does not support mining. The platform uses a unique variation of the federated Byzantine agreement. They call the resulting protocol the Stellar Consensus Protocol.
In this consensus algorithm, the network makes no assumptions about attackers. This is unlike traditional Byzantine algorithms. Such systems maintain a list of attacker behavior that could be wrong. Hence, such networks are vulnerable to attacks. Additionally, the SCP consensus does not require heavy computational power.
This may leave you wondering how validation on the network works. The platform uses a set of established nodes to validate transactions. These nodes confirm the validity of transactions on the network. The system updates the ledger every five seconds. It does this by updating all balances and operations.
The developers believe that this consensus is ideal for Stellar. This is because it is fast, configurable, and energy-efficient.
Stellar has a great team of developers spearheading its evolution. The CEO of the Stellar Development Foundation is Denelle Dixon. She has tons of experience in leading tech companies. Before Stellar, she worked at Mozilla. Here, Denelle served as the CEO for three years. She was the Chief Business and Legal Officer before that.
Denelle has tons of experience to head any team. Therefore, it is safe to say that Stellar is in safe hands. Moreover, Jed McCaleb, co-founder, also co-founded Ripple. Ripple is now one of the best-known blockchain projects in the world. It is excellent to know that the man who had a hand in its success is in the Stellar team.
Furthermore, Stellar has great advisors. One of the key players in the advisory board is Patrick Collison. He is the CEO of Stripe.
The Token is the native coin of the Stellar blockchain. It powers transactions on the blockchain and has the symbol XLM on listings. This token has an outstanding performance in the market. It is one of the best performing tokens in the market. It currently sits 14th in market cap share rankings.
This is very impressive. It shows that this coin has approval from the community. Moreover, this con has great adoption. The circulating supply of XLM tokens is 21,914,610,101 XLM. This represents 44% of the total supply. Additionally, it has a fully diluted market cap of $6,578,809,217.
Stellar is very concerned about the security of users. Hence, they give a list of their official communication channels for users. This ensures that scammers do not impersonate them to defraud people.
Additionally, they show dedication to protecting the network from hackers. Stellar’s validation mechanism ensures that the network maintains a consensus. The distributed nodes in the network work together to keep it secure. Hence, an attacker would need immense computational power to attack the network successfully.
Additionally, the developers have a bug bounty program. The developers invite security experts from all over the world. Any of them that finds a bug on the network receives a reward. This is a great way to gather expertise from around the world.
In terms of privacy, this blockchain maintains transparency. The public ledger records all transactions and user balances. However, these records are immutable and safe from hackers.
Stellar has an exciting approach to facilitating transactions. The developers focus on facilitating transactions across borders. For this, they deliver a cost-friendly and fast solution. Additionally, merchants can easily use Stellar blockchain. It provides them with a link to traditional financial institutions.
However, the platform has many other use cases. It is a direct competitor of the Ethereum blockchain. Ethereum is much more successful compared to Stellar. The company still has a lot of work to do to catch up with Ethereum.
You can easily add this token to your portfolio. It is one of the better-performing currencies in the market. You can buy this cryptocurrency from several exchanges. Some of the best exchanges to use include Bitfinex, Binance, OKEx, BitZ, and Huobi Global Global.
You can easily hold this coin to sell at a later date. For this, you would need a cryptocurrency wallet. Some of the best wallets to store lumens include Ledger, Trezor, Keybase, and Solar Wallet.
Stellar has a very interesting value proposition to users. They can efficiently perform transactions across borders. The platform offers a cheap and faster solution to traditional transactions. Additionally, it offers developers a robust and powerful blockchain to launch decentralized applications.
However, this blockchain project faces stiff competition from the better-established Ethereum. It is impossible to see how it can dethrone such a big player.
Nonetheless, this coin is one of the best performing projects in the markets. Its Lumen token is top 14th in market cap share. Additionally, it shows a lot of promise.