Stellar Lumens (XLM)

Feb 22, 2018 at 11:36

Launched in 2014 with a goal to incorporate micropayments, remittances, mobile money and services for those without bank accounts; Stellar Lumens’ popularity has been on a steady rise as its market cap is now at $7.4 billion with a value now averaging at $0.40.

Stellar, as an open-source payment distribution infrastructure, connects individuals, payment systems and banks globally with a focus on developing nations. As a virtual currency, it facilitates transactions of multiple currencies and assets using Lumens to bridge a sender and a receiver.

An account holder is required to hold a minimum balance of 1 Lumen with each transaction incurring a fee of just 0.00001 Lumen to prevent malicious users from flooding the network via a denial of service attack.

Its advantage over other cryptocurrencies in the market is its ability to execute programs with very minimal transaction fees. Its protocol also allows startups to customize token distribution, payments and even special offers.

Likewise, Stellar Lumens’ platform is embedded in a decentralized exchange, so, tokens launched on the platform does not need to get listed on third-party exchanges to become available to the wider market.

At present, Stellar Lumens is already available on several large exchanges and is already popular on Upbit, Bittrex, Poloniex, Kraken and Binance among others. Its market cap is deemed to be at 103 billion tokens and approximately 18 billion is already in circulation.

Another factor which makes the cryptocurrency better than others is with the partnerships that it has inked in recent years.

Last year, Stellar Lumens partnered with listed tech firm IBM, which will provide the network with eight new validators aside from 30 other financial institutions that have signed up for the blockchain banking project.