Stellar
The Stellar network is an open source, distributed, and community owned network used to facilitate cross-asset transfers of value. Stellar aims to help facilitate cross-asset transfer of value at a fraction of a penny while aiming to be an open financial system that gives people of all income levels access to low-cost financial services. Stellar can handle exchanges between fiat-based currencies and between cryptocurrencies. Stellar.org, the organization that supports Stellar, is centralized like XRP and meant to handle cross platform transactions and micro transactions like XRP. However, unlike Ripple, Stellar.org is non-profit and their platform itself is open source and decentralized.
Stellar was founded by Jed McCaleb in 2014. Jed McCaleb is also the founder of Mt. Gox and co-founder of Ripple, launched the network system Stellar with former lawyer Joyce Kim. Stellar is also a payment technology that aims to connect financial institutions and drastically reduce the cost and time required for cross-border transfers. In fact, both payment networks used the same protocol initially.
Distributed Exchange
Through the use of its intermediary currency Lumens (XLM), a user can send any currency that they own to anyone else in a different currency.
For instance, if Joe wanted to send USD to Mary using her EUR, an offer is submitted to the distributed exchange selling USD for EUR. This submitted offer forms is known as an order book. The network will use the order book to find the best exchange rate for the transaction in-order to minimize the fee paid by a user.
This multi-currency transaction is possible because of "Anchors". Anchors are trusted entities that hold people’s deposits and can issue credit. In essence, Anchors serves as the bridge between different currencies and the Stellar network.
Lumens (XLM)
Lumens are the native asset (digital currency) that exist on the Stellar network that helps to facilitate multi-currency transactions and prevent spams. For multi-currency transactions, XLM is the digital intermediary that allows for such a transaction to occur at a low cost.
In-order to prevent DoS attacks (aka spams) that would inevitably occur on the Stellar network, a small fee of 0.00001 XLM is associated with every transaction that occurs on the network. This fee is small enough so it does not significantly affect the cost of transaction, but large enough so it dissuades bad actors from spamming the network.
Prior to Protocol 12, Stellar had a built-in inflation mechanism conceived to allow account holders to collectively direct inflation-generated lumens toward projects built on Stellar.
As the network evolved and grew, it became increasingly clear that inflation wasn’t working as intended — account holders either didn’t set their inflation destination or joined inflation pools to claim the inflation themselves, and the operational costs associated with inflation payments continued to rise — and so a protocol change to disable inflation was proposed, implemented, voted on by validators, and ultimately adopted as part of a network upgrade.
The inflation operation is now deprecated.
https://developers.stellar.org/docs/glossary/inflation/
Cryptocoins News / CoinJournal - 2 years ago
Stellar (XLM) remains near an inflection point despite its 7.5% upside, with both bulls and bears looking undecided over the next move.
Stellar has gained about 7.5% in the past 24 hours, rebounding above $0.20 as the crypto market looks to shed Tues...
Cryptocoins News / CoinJournal - 2 years ago
The price outlook for LTC, XLM, and UNI heading into the weekend suggests bears are still in control.
As of writing, the market is largely in red, with only Stellar (XLM) +4.22% and Binance Coin (BNB) +2.66% trending green among the top 20 cryptocurr...
Cryptocoins Exchanges / Binance - 2 years ago
Operation: https://stellar.expert/explorer/public/op/154617684489998337 I used path payment instead of directly transferring XLM to binance. This means that the USDC I sent is first automatically exchanged to XLM on Stellar and then sent to binance....
by COINS NEWS - 2 years ago
Many blockchains are implementing pretty awesome features using smart contracts. Multisig, custom tokens, exchanges, anchored currencies (wBTC/Tether/USDC) and more. These are great, but in practice they do currently have some downsides for day-to-da...
by COINS NEWS - 2 years ago
Hello fellow crypto zealots. I have a personal observation on XLM. It is so useful for moving money between exchanges and wallets that I have a lot of trouble holding it. I first bought into XLM at around 10 cents, but was never able to hold it for...
Cryptocoins News / NewsBTC - 2 years ago
The Stellar Development Foundation (SDF) will enable an automated market maker (AMM) functionality via Protocol 18. The implementation will take place with a network upgrade, but a specific date is yet to be revealed.
In an official post, the SDF cla...
Cryptocoins Exchanges / Binance - 2 years ago
Dangit! I had an emergency sell order for XLM on binance.us at .25 and it just shot down and right back up again. Anyone have an idea how/why this happens? submitted by /u/No-Committee2503 [link] [comments]
Cryptocoins News / CoinJournal - 2 years ago
Stellar price has stabilised and shows signs of recovery with price action moving upwards in a V-shaped manner
The cryptocurrency space promises to address myriads of issues in a wide range of sectors. So far, one can boil the areas of focus down to...
Cryptocoins News / NewsBTC - 2 years ago
Stellar Development Foundation (SDF) CEO, Denelle Dixon, celebrated the result of a partnership with the payment infrastructure Wyre. This company has released a new Savings API for FinTechs to have access to a yield earning and savings product.
So...
Cryptocoins News / The Cointelegraph β - 2 years ago
Airtm is aiming to solve a myriad of financial challenges in Latin America tied to last-mile remittance, affordability and equitable access to the global banking system....