Stellar (XLM) is an open source platform uniting payment systems and individuals. Stellar Lumen helps to quickly and securely transfer funds anywhere in the world.
Stellar uses blockchain to develop financial applications, such as mobile wallets, banking interfaces and automatic payment systems. And the XLM token itself is used as a currency for transactions in applications and systems.
A brief History of the cryptocurrency Stellar Lumen
The idea behind the creation of Stellar was to surpass the cryptocurrency XRP and at the time, the developers succeeded. XRP back in 2013 had a closed code, most of the coins were owned by the developers and the community didn’t like that it wasn’t decentralized. That’s how Stellar came about, removing all the flaws of its competitor.
A popular way to store XLM is the cold wallet – Trezor, Ledger Nano S. Settings can be downloaded from the official Stellar page on GitHub. There are also alternative storage methods – online services like Stellar Wallet, available from this link. You can also use wallets Stronghold, LuPoEx, Lobstr, Saza.
- Desktop applications – Stellar Desktop Client, Stargazer.
- Mobile applications – Lobstr, Stargazer, Centaurus.
All XLM coins have been in circulation for a long time and you can’t mine it, some consider it a plus and some consider it a minus.
Pros, cons and features of the cryptocurrency
- Open source, showing everything as it is and complete decentralization
- Secure and fast transaction processing (up to 1100 per second)
- Large number of partners and integrations into other systems
- Any transaction takes a commission of 0.00001 XLM, which helps against all kinds of spam.
A minimum of 0.5 XLM is required to make any transaction, but considering how small the exchange rate of the coin is right now, so far the minus is not significant.
Almost all applications use the Horizon server, it helps to work easily and use any programming language.
Stellar Lumen Predictions
If you compare XLM to XRP now, XRP has been holding its own in the top 10 for a long time and Stellar’s potential could be the same in theory. Although if you take it apart logically, since XRP has removed all the drawbacks and has become fully decentralized, there is no need for XLM.
XLM has a big advantage in its very small commission and a lot of partners and developers who have already integrated it into the system and are unlikely to give it up. Analysts predict good growth once the entire cryptocurrency market starts to recover. The nearest optimistic stellar lumen forecast mark to expect is $0.5.