|Brief||The Stellar Lumens project was developed in 2014 amid widespread criticism of Ripple cryptocurrency. Many users and analysts blamed the developers of this cryptocurrency for a centralized approach to development.|
|Last updated:||Wednesday, January 27, 2021 10:00:02AM UTC|
|Crypto Volatility Index (CVIX):||89|
|Current price, USD:||0.246400|
|Market capitalization, USD:||5 443 456 945|
|Available supply:||22 095 601 011 XLM|
|Volume 24 hours, USD:||633 260 685|
General XLM facts, technical details and general information about Stellar crypto currency
The Stellar Lumens project was developed in 2014 amid widespread criticism of Ripple cryptocurrency. Many users and analysts blamed the developers of this cryptocurrency for a centralized approach to development. As a result, the idea came up to create a fork with the same principles, but with an emphasis on the decentralization of the system.
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The main purpose of cryptocurrency is internal functionality, system support payments and investments. Therefore, to assess the potential and development prospects, attention is to be paid not to digital currency itself, but to the Stellar Lumens platform. The original name is Stellar, later changed to Lumens. The developers do not set as their goal just making their own digital currency a full-fledged means of payment or intermediary virtual currency for exchange.
The Stellar platform was founded by Jed McCaleb and Joyce Kim as a fork of Ripple (XRP) in 2014. At first it worked on the protocol of Ripple, but then in 2015 an original Stellar protocol with open source code was created, and the units of the crypto currency were named stellar, though now they are often also called lumens.
Why did Stellar project founders decide to separate from a very promising platform? The reason is Ripple is still being harshly criticized by many experts for being a completely centralized platform controlled by Ripple Labs company; Ripple’s code has been closed for a long time. Stellar was meant to be “a killer” platform by giving the same benefits as Ripple avoiding its flaws.
Stellar is a fairly fast and scalable open source platform that already supports up to several thousand transactions per second; transaction confirmation time does not exceed 2-5 seconds. The platform can transfer various currencies, crypto-currencies, tokens and so on. To confirm transactions, SCP protocol is used instead of the usual Proof-of-Work. The platform allows you to use both multi-signature and smart contracts. A total of about 100 billion coins have been created, and a fixed annual inflation of 1% is also present.
Stellar makes it possible to create, send, and trade digital representations of all forms of money: dollars, pesos, bitcoin, pretty much anything. It’s designed so all the world’s financial systems can work together on a single network.
All coins are issued initially, so this crypto currency is not mineable. Most of the issued coins belong to the non-profit organization Stellar.org, which provides support and development for the Stellar network. The main mission of this organization was the fight against poverty, creating every inhabitant of the world access to open and low-cost financial instruments, cheap loans and reliable savings accounts.
We list daily Stellar historical data for the past 10 days
|Date||Open, $||Min, $||Max, $||Market cap, $|
|Jan 18||0.303800||0.296700||0.307100||6 670 077 681|
|Jan 19||0.303000||0.299500||0.314000||6 718 342 682|
|Jan 20||0.301500||0.281600||0.301500||6 466 215 083|
|Jan 21||0.294500||0.254200||0.294500||5 616 174 572|
|Jan 22||0.252700||0.238700||0.277800||5 921 893 061|
|Jan 23||0.270600||0.265300||0.276400||5 939 157 605|
|Jan 24||0.269000||0.266000||0.281400||6 022 159 130|
|Jan 25||0.271800||0.262600||0.275900||5 803 352 885|
|Jan 26||0.262200||0.251800||0.264400||5 712 617 471|
|Jan 27||0.261400||0.246400||0.261400||5 443 456 945|
|XLM price change 24 hours||-5.72%|
|XLM price change 7 days||-15.85%|
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