Stellar
For storing and moving money.
Token — XLM
Stellar. When you will look for it on the exchanges try to look for XLM, that is the symbol for trading. To divide it even more, you have Stellar Network, which is a digital payment network. Next, you have Stellar Development Foundation, that is a non profit organization that only supports network and cryptocurrency. And then we have XLM. This is the token (or it can also be called lumen) of Stellar which powers its network.
History
The Stellar or XLM was developed and is now operated by the Stellar Development Foundation. That is a non profit company, which was founded by Jed McCaleb in 2014 just with purpose to support the development and growth of the open-source Stellar network.
The XLM got its initial funding from the Stripe (startup) and other donations camo from companies like BlackRock, Google, and FastForward. In 2018 the Stellar signed the deal with TransferTo, which is company which mainly operates and manages cross-border mobile payments network for emerging markets.
Ranking
Now its current price is $0.29 for one coin with fluctuation $0.01 to each side. The market cap is $7,2 billion which is putting the XLM at 25. place in the worldwide ranking. For its total supply of tokens: In the circulation is 24,6 billion tokens and total supply 50 billion. Originally there was 100 billion tokens but company burned nearly half of this number in November 2019.
Technology
Same as other cryptocurrencies the XLM is running on blockchain technology. But the XLM has one up against many other cryptocurrencies. That is possibility of connecting to real-world endpoints. That means the people which invested in the XLM can turn their digital representations of money into something they can actually spend.
Stellar uses really environmentally friendly platform and it was designed specially for remittances and payments. So, delays between transactions are very short and transactions cost way less than a penny.
Advantages
Now lest get to the part which should help you decide if you want to invest in it or not. The XLM is widely traded. So, you can find it on almost every big exchange. Regular upgrades. New upgrades come to the Stellar network really often. Last one came on 1st March 2021 and it was release of Horizon 2.0. The scarcity. As I mentioned before more than half of original tokens was burned. And now 46% of the coins have been bought, so that leaves only 54% of the coins on the market.
Disadvantages
Ripple. The XLM is facing strong competition from Ripple. Its infrastructure is more decentralized than Ripple, but XRP is already servicing 100s of financial institutions and is more preferable in day-to-day operations. Unpopularity. The XLM is still relatively unpopular and unknown for investors. Popularity is extremely needed for investors as it helps increase volume of an asset. No mining and rewards. This is maybe only for those who actively mine crypto. The XLM does not have mining system so it does not offer any rewards. Maybe that is the reason behind the unpopularity.
Thank you for reading.
