Buy Stellar (XLM), it’s easy!

The Stellar Lumens project has given birth to one of the most interesting altcoins on the crypto market. But how does it work?

What is Stellar?

In a way, Stellar is Ripple’s half-sister. Both created by Jed McCaleb, Stellar is not intended to be a direct payment method, but an intermediary in the conversion of currencies. Thanks to Stellar, you can send a traditional currency from one part of the world to another via the blockchain with a complex tokenisation 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 virtually non-existent.

Why buy Stellar?

Lumen is the cryptocurrency of the Stellar blockchain. It is used as an ‘anti-spam’ tool. The use of XLM in transactions helps protect the network by preventing malicious actors from flooding it with a DoS attack. On the other hand, all accounts require a minimum balance of 0.5 XLM. Therefore, users are pushed to keep the blockchain clean by deleting inactive accounts. This makes all accounts using the Stellar network economically useful.

How was it created?

Stellar’s objective is to “make money more fluid, markets more open, people more empowered”. Supervising the project is Jed McCaleb together with the Stellar Development Foundation. The SDF is a nonprofit organisation founded in 2014 to closely follow the development of Stellar.

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