XLM
StellarUSD 0.092475
as of 2024-10-15 15:20:02 UTC
What
What is Stellar (XLM)?
Stellar Lumens is an open-source, decentralized, and digital currency that is designed to facilitate cross-border transactions between any pair of currencies. Stellar is a blockchain-based platform that allows for fast and cheap transactions and enables the creation of decentralized applications.
The Stellar network uses a consensus algorithm called the Stellar Consensus Protocol (SCP) which enables it to confirm transactions in a matter of seconds and at a fraction of a penny. The network also has its own decentralized exchange (DEX) built-in, which allows for the conversion of different currencies in real-time.
Stellar also has a strong focus on financial inclusion and has partnerships with organizations that work to promote financial access for underbanked and unbanked populations around the world.
XLM, the native cryptocurrency of the Stellar network, is used to pay for transaction fees and to facilitate the creation of new tokens on the network. It is a digital asset that can be bought, sold, traded and stored on various cryptocurrency exchanges.
Why
Why was Stellar (XLM) invented?
Stellar Lumens (XLM) was created in 2014 by Jed McCaleb, one of the founders of the now-defunct Mt. Gox Bitcoin exchange, and Joyce Kim. The goal of creating Stellar was to create a decentralized, open-source platform that could facilitate cross-border transactions between any pair of currencies.
The Stellar network was created with the purpose of making financial services more accessible and affordable to people around the world, particularly those who are underbanked or unbanked. The platform is designed to enable fast and cheap transactions, making it accessible to people in developing countries and other areas where traditional financial services are not widely available.
The Stellar Lumens cryptocurrency (XLM) is the native currency of the Stellar network, it is used to pay for transaction fees on the network, as well as to facilitate the creation of new tokens. The use of XLM is intended to promote the adoption and growth of the network by providing an easy way for users to participate in the Stellar ecosystem.
Additionally, Stellar also has a strong focus on financial inclusion, it has partnerships with organizations that work to promote financial access for underbanked and unbanked populations around the world. And it also aims to provide a platform for creating decentralized applications that can be used for a wide range of purposes, such as creating digital wallets, remittances, and other financial services.
Who
Who created Stellar (XLM)?
Stellar Lumens (XLM) was created by Jed McCaleb and Joyce Kim, who co-founded the Stellar Development Foundation in 2014. McCaleb is a well-known figure in the cryptocurrency industry who was also involved in the creation of Ripple (XRP), while Kim's background is in law and finance.
McCaleb's role in the creation of Stellar Lumens was focused on the development of the platform's technical architecture and implementation, while Kim's expertise in legal and regulatory matters was brought to bear on the project's legal and regulatory compliance efforts. Together, they worked to create a decentralized payment network that could facilitate cross-border transactions and provide financial services to individuals who did not have access to traditional banking services.
Stellar Lumens is the native cryptocurrency of the Stellar network, and it is used to facilitate transactions on the platform and pay transaction fees. The platform has gained a significant following in the cryptocurrency community due to its focus on financial inclusion and its ability to facilitate fast, low-cost transactions across borders.
Since its creation, Stellar has become one of the most widely used blockchain-based payment networks in the world, with partnerships and collaborations with a number of major financial institutions and payment providers.
In addition to their work on the Stellar project, McCaleb and Kim have been involved in a number of other high-profile blockchain initiatives throughout their careers, including McCaleb's involvement in the creation of Mt. Gox, one of the first Bitcoin exchanges, and Kim's founding of Simple Honey, a blockchain-based mobile gifting platform.
When
When was Stellar (XLM) launched?
2014-07-13
Where
Where can you buy/invest in Stellar (XLM)?