Stellar As A Global Cryptocurrency
Stellar was created to allow people and companies to communicate in an easy way. The transfer lasts only a couple of seconds, thanks to Stellar Consensus Protocol. It’s a perfect cryptocurrency for micropayments.
The main concept
Stellar is an open-source protocol for money exchange. The protocol is supported by a nonprofit organisation, the Stellar Development Foundation. The main mission of this foundation is to expand financial accessibility all around the world. Stellar was created to give people and companies an easy way to connect and communicate with each other. The most important concept of Stellar is the ability to transfer money worldwide in a cheap and fast way. Transactions are based on the original Stellar network – a group of connected servers. The base of this whole system is Stellar Core, which allows the external parties (clients, companies) to connect with the network. That forms a global currency exchange community.
What Stellar gives you
This cryptocurrency is good for micropayments. The fees are very low, so you don’t have to worry about spending lots of money to just make a transaction. Also, the payments are super fast, thanks to the Stellar Consensus Protocol. The communication between users and consensus between servers lasts just a couple of seconds and happens continuously, around the clock. When you make a Stellar transaction, you can be sure that your funds will securely and quickly reach their final destination, no matter where on the planet it is.
Brief history of Stellar
Stellar was founded in early 2014 by Jed Mccaleb and Joyce Kim. Initially, the cryptocurrency was based on Ripple. After facing some problems with the consensus algorithm, Stellar created an updated version of it. The code and whitepaper for this new algorithm were released in April 2015.
Originally, the currency’s name was stellars (with ticker STR) and then after the update, it was changed to lumens (XLM). Since the rebranding, Stellar’s cryptocurrency experienced a dramatic rise in price and usage. The whole company is experiencing visible development, launching new products. Its cryptocurrency has been consistently ranked among the top 10 cryptocurrencies in terms of market capitalization. The biggest rise was noted in January 2018.
STELLAR – INFORMATION
- website: https://www.stellar.org/
- Facebook: https://www.facebook.com/stellarfoundation
- Twitter: https://twitter.com/stellarorg
- Reddit: https://www.reddit.com/r/Stellar/
You can find Stellar on these exchange platforms:
And many more.
- Has a decentralized and open database.
- Confirmation time: 3-5 seconds
- Can enable thousands of transactions per second
- Uses the Stellar Consensus Protocol
- Enables Multisignatures and Smart Contracts
- The official ticker symbol for Stellar token: XLM
- Crypto-asset type: Utility Token
- Maximum token supply: 103 748 462 367 XLM
- Circulating supply: 18 468 394 332 XLM
- Market cap: $4 226 999 707 USD
- Volume: $41 918 082 USD
Image from https://coinmarketcap.com
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