What is Stellar (XLM)? Learn about Electronic Money Stellar Lumens

What is Stellar (XLM)?

Stellar is an electronic money projected to be created by Jed McCaleb, co-founder of Ripple, in 2014. McCaleb launched Stellar after philosophical differences with the rest of the ripple board.

While the Ripple focuses on providing solutions to banks, Stellar aims to facilitate payment between people. Many have compared Stellar with ripples due to its wide appeal to banks and other organizations. In fact, Stellar has launched major partnerships with groups such as Deloitte, which announced a partnership with Stellar in 2016 to develop a paid application. 30 banks have also registered to use Stellar's cross-border transfer protocol.

Stellar remains an unknown electronic money until the end of 2017. By the end of 2017, the electronic price of Stellar, Lumens or XLM, has increased by 41.900%, making it one of the most efficient electronic money. by 2017.

How does Stellar (XLM) work?

Stellar is the protocol, while Lumens is the electronic money used in that protocol. Stellar's open source payment protocol shares some similarities with the ripple.

Like the ripple, Stellar's payment protocol is targeted at financial institutions. It aims to significantly reduce the time and cost of international transfers.

One of the biggest differences between Ripple and Stellar is that Stellar is open source, while Ripple is a closed system.

Stellar also attracts different customers. The company is focusing on developing markets, for example, including remittance services and other financial institutions targeting "unbound" individuals in developing countries. The ripple, meanwhile, is working with established banking institutions and corporations.

At its foundation level, Stellar operates in a similar way to other electronic money. The protocol runs a network of distributed servers, including distributed accounting books, that update every 2 to 5 seconds on all nodes.

The most striking difference between Stellar and other electronic money is the consensus protocol: Stellar does not rely on a network of miners to create consensus. Instead, it uses a unique consensus protocol called the associated Byzantine Agreement, or the FBA algorithm. This allows for faster transaction processing by using "delegate groups" to approve and authenticate transactions. Each "delegation" is part of the network that creates consensus. So instead of relying on the entire network to approve every transaction, Stellar's delegates provide the same security but with much improved speed.

Stellar also has a unique system of "anchors". Each "anchor" is a reliable entity that provides credit lines for people using Stellar networks to use assets such as dollars or euros. Basically, this system involves "betting" a stake on the Stellar blockchain, then receiving the equivalent amount of another asset. You can access USD by betting EUR, for example, by a small fraction of the cost of traditional Forex and loan services.

This anchor system also leads to another powerful feature: Stellar's decentralized exchange. The decentralized exchange can be used to transact anything that is organized by Stellar's anchor network. You can trade anything through the Stellar Marketplace - including fiat and cryptocurrencies.

Features and Specifications of Stellar (XLM)

• Transfers

Send cash across the border quickly, for a fraction of a cent. Facilitate cheap payments between completely different currencies.

• Micro Billing

Increase the effect and reduce the transfer price smaller. Provide advanced payment options to your customers.

• Mobile branch

Get the bank advantage at work with mobile affiliates. Expand your retail business without having to pay a high price.

• Cash mobile

Make the actual mobile cash platform. Let your customers send to recipients with completely different providers.

• Service for underbanked

Therefore, the price of the discounted price so you can transfer money to new customers. Reach the bottom of the pyramid with cheap accounts, loans and microprocessors.

Development team

Stellar is run by a team of professionals with extensive experience in IT, digital currency and business.

Advisors include: Patrick Collison, CEO and co-founder of Stripe. He graduated from MIT and has extensive experience in various business fields. Collison is part of Stellar's advisory team, including Matt Mullenweg (founder of WordPress.com), Sam Altman (chairman of Combinator) and Navik Ravikant (founder of Angelist).

Inner Group: Bartek Nowotarski is a developer at Stellar with a master's degree in computer science. He brings a lot of experience in the field of web application security.

Trading in Stellar (XLM) at any trading platform

Buy LTC on most large decks with different currency pairs.

Stellar storage (XLM) in any wallet

Stellar can store in Ledger, Steller Desktop client, Stangazer Wallet, Wallet lobstrings, ...

Official website (learn more):  https://www.stellar.org/ 

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