Today, many young cryptocurrencies are gaining popularity and actively growing in value. However, not all of them have unique technical features and advanced concept at their core. But the Stellar cryptocurrency really has something to surprise, and most importantly – it has an outstanding team of developers who have created a truly “stellar” product.
Stellar Lumens is not just a Ripple copy.
Not everyone knows that Stellar is actually a fork of Ripple, but it is not just a fork – it is an improved version.
Many people refer to Stellar as the “Ripple killer” – ironically, Stellar was created just because of Ripple’s shortcomings. Well, the thing is Ripple is a technically very interesting payment system, but it is completely centralized, with the developers making all the decisions and determining the size of the issue. For a long time, they even hid Ripple’s source code. This led to dissatisfaction and a large number of complaints from the community.
This did not satisfy one of the project’s key developers, Jed McCaleb, and he created his own based on Ripple’s source code. However, McCaleb cannot be accused of plagiarism – he significantly improved the code, thanks to which Stellar has a number of advantages:
- The project is run by a non-profit organization;
- The Stellar code is open and available to everyone;
- The final number of coins to be produced is 50 billion;
- Coin inflation will be 1% per year (artificially maintained);
- Transactions are confirmed extremely fast – up to 5 sec;
- Mining is not supported at all.
Stellar platform
The Stellar platform is often compared not only to Ripple, but also to Ethereum, with the latter clearly losing in many aspects. For example, in the speed and cost of transactions. Stellar also has various additional developments built into it, such as an exchange for instant exchanges, a platform for conducting ICOs, but the greatest interest of the project is for the banking sector.
Stellar price
Currently, Stellar XLM ranks 21st in the ranking of cryptocurrencies, its market cap is 3.38 billion dollars. But to achieve such results, the coin had to go a long way – for the first time on the exchange Stellar listed in 2014, at that time quoted at a price of $0.003.
For a long time, the coin was worth a pittance, not reaching a cent in its price, until the spring of 2017, when a major pump happened. Thanks to this event, the price of Stellar rose to $0.05, and although this position was soon lost, the quiet period of this coin’s existence finally came to an end and it began to be noticed by investors.
Stellar investors have seen both the ups and downs of the coin, and today it is trading at $0.12.
Stellar wallets
The choice of wallets for storing XLM is quite large, including various multi-currency mobile and desktop wallets, as well as hardware wallets (Ledger and Trezor). However, we will focus on dedicated ones.
First, there is Freighter – non-custodial wallet extension for Google Chrome browser.
Second, Stellar Wallet is an XLM online wallet that does not require installation. It works right in the browser. This wallet is as anonymous as possible, as it is not tied to the user’s device.
Where can I buy Stellar (XLM)?
Stellar Lumens is bought and sold on all major exchanges, the coin is interesting for investors and therefore trading platforms are happy to add it to their listings. Predominantly, XLM is traded in pairs with Bitcoin and USDT. The coin is most actively traded on Binance, Coinbase, FTX, Kraken, Huobi, but the list of exchanges that work with this cryptocurrency is truly impressive.
What is the prospect of XLM Stellar?
Stellar Lumens is a cryptocurrency with a face of its own, although it is actually a fork of Ripple and owes a lot to that coin. However, far from being a knock-off, Stellar is an excellent development that has already found its application in various financial sectors.
The prospects for the cryptocurrency are really not bad. In particular, Stellar has signed partnership agreements with many leading global companies, especially IBM and MoneyGram. If the developers continue to actively develop their project, we can expect rapid growth in the future. Undoubtedly, this asset is interesting for investors, but it has not yet been fully evaluated by them, so all the upside awaits Stellar.
