Why buy Stellar (XML)?
Lumen is the cryptocurrency on the Stellar blockchain. It is used as an ‘anti-spam’ tool. The use of XLM in transactions protects the network by preventing malicious actors from saturating it with a DoS attack. On the other hand, all accounts require a minimum balance of 0.5.
What it is and how it was born
Stellar is in a way the half-sister of Ripple, both having been created by Jed McCaleb. It is not intended to be a direct payment method, but rather an intermediary in currency conversion. Thanks to Stellar, it is possible to send a traditional currency from one part of the world to another via the blockchain with a complex tokenization system. Its technology is truly innovative and has an immediate impact on the real world, especially for countries where access to the financial system is almost non-existent.
The goal? ‘To make money more fluid, markets more open, and people more independent’. Overseeing the project, in addition to Jed McCaleb, is the Stellar Development Foundation, a non-profit set up in 2014.
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