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 - 1 year ago
XLM has lost more than 3% of its value in the last 24 hours.
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Cryptocoins News / CoinJournal - 1 year ago
XLM has lost 4% of its value in the last 24 hours despite the Stellar Organisation announcing a huge adoption news a few hours ago.
XLM, the native coin of the Stellar blockchain, has lost more than 4% of its value in the last 24 hours. It is underp...
Bitcoin News / Google News Bitcoin - 1 year ago
Stellar Lumens (XLM) Network Welcomes Bitcoin (BTC) While The Hideaways (HDWY) Offers Club Membership& & Analytics Insight
Cryptocoins News / NewsBTC - 1 year ago
Stellar (XLM), the 27th ranked cryptocurrency in terms of market capitalization, managed to pump its spot trading price by 2.1% over the last 24 hours.
At press time, according to tracking from Coingecko, the asset is changing hands at $0.112 and has...
Cryptocoins News / CoinJournal - 1 year ago
Stellar Lumen (XLM) is up by more than 2% in the last 24 hours as the broader cryptocurrency market continues its positive start to the week.
XLM, the native coin of the Stellar Lumen blockchain, is up by more than 2% so far today. The coin is curre...
Cryptocoins News / NewsBTC - 1 year ago
Stellar is one of the cryptocurrencies that had an interesting and fruitful 2021, perhaps why the altcoin is making positive noise these days for being a viable asset for long trading.
Stellar could enter a dull phase on the coming sessions
XLM is -...
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Stellar Development Foundation (SDF), a non-profit organization focused on the growth of Stellar blockchain, has launched a $100 million fund to accelerate native smart-contract adoption. Soroban, the smart-contract platform that builds on the Stella...
by COINS NEWS - 1 year ago
Coinbase Cashback Rewards will continue to support 4% Cashback paid out in Stellar for 30 more days. This will come as a pleasant surprise for most Coinbase card users since in the past the max % would fluctuate between 2-4%, 4% usually being paid ou...
Cryptocoins News / CoinJournal - 1 year ago
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Cryptocoins News / NewsBTC - 1 year ago
Since the beginning of this month, Stellar (XLM) has increased by 6%, continuing its remarkable monthly performance. Coingecko reports a 4-day performance for XLM of 5.3%, while charts show an impressive 31.50% rise over the previous 30 days.
This pr...
Cryptocoins News / The Cointelegraph β - 1 year ago
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XLM price shows could be ready for a major boost as the price remains bullish with good volume and strength.
XLM trades above support as the price aims to continue its trend movement as the price keeps holding above 8 and 20-day EMA.
The price of XL...