Depicted Certainly! Let's talk about **Stellar (XLM)**, a fascinating cryptocurrency: **Stellar (XLM)** is a **peer-to-peer decentralized network** created in 2014 by The Stellar Development Foundation (or Stellar.org). Its official launch occurred in 2015 with the mission of connecting the world's financial systems and establishing a protocol for payment providers and financial institutions. Here are the key points about Stellar: 1. **Purpose**: Stellar aims to move financial resources swiftly and reliably at minimal cost. It bridges people, banks, and payment processors, allowing users to create, send, and trade various types of crypto. 2. **Native Currency**: The basis of the Stellar network is its native digital currency, known as **XLM** or **Lumens**. XLM acts as an intermediate currency for operations and is also used to pay transaction fees. 3. **How It Works**: The Stellar payment protocol is based on **distributed ledger technology**. When a transaction occurs, money is first converted into XLM and then into the requested currency. This process ensures efficient cross-border transactions, overcoming high fees and slow procedures. 4. **Decentralized Exchange**: Stellar serves as a **decentralized exchange and marketplace**. It has a built-in order book that tracks ownership of Stellar assets. Users can manage buy/sell orders and select preferred assets for settlements. 5. **Security and Nuances**: - **High Security**: Stellar maintains a high level of security. XLM holders must have at least one token to remain active on the network. - **Protection Against Attacks**: Lumens offer protection against flood attacks by making microtransactions too expensive for hackers, ensuring the safety of the Stellar Network. 6. **Target Audience**: Stellar primarily targets inhabitants of developing countries, providing them access to the global economy through fast, simple, and inexpensive transactions. 7. **Currency Conversion**: Stellar extensively uses Lumens to facilitate live conversions and send cash in multiple currencies. For example, currency sent from one peer can be received in another currency, even when there are no widely traded pairs. **Current Status**: As of now, the live Stellar price is approximately **$0.1362 USD**, with a 24-hour trading volume of **$251.6 million USD**. Stellar ranks #33 in terms of market capitalization, with a live market cap of **$3.9 billion USD**¹². So, if you're interested in Lumens (XLM), you're diving into a fascinating world of decentralized finance and global connectivity! 🌟🚀 Source: Conversation with Bing, 05/03/2024 (1) Stellar price today, XLM to USD live price, marketcap and chart .... https://coinmarketcap.com/currencies/stellar/. (2) Stellar Price | XLM Live Price Index and Chart- CoinDesk. https://www.coindesk.com/price/stellar/. (3) Stellar Cryptocurrency Definition, History & Future - Investopedia. https://www.investopedia.com/terms/s/stellar-cryptocurrency.asp. (4) Stellar Lumens (XLM) Explained - The Balance. https://www.thebalancemoney.com/stellar-lumens-xlm-explained-5194038. (5) Lumens (XLM) | Stellar Docs. https://developers.stellar.org/docs/fundamentals-and-concepts/lumens. (6) Stellar | Stellar Lumens. https://stellar.org/learn/lumens. .”
This Stellar RewordFeel free to email us to provide some feedback, or to just say hello!