Cryptofacts#1 — What is Stellar Lumens (XLM)?
Dear Gobaba community,
Starting with this post, we are gonna be introducing you the altcoins listed on Gobaba as cryptofacts series. First coin that we are gonna be presenting is Stellar (XLM).
You can see the up-to-date list of available altcoins listed on Gobaba here-> https://steemit.com/cryptocurrency/@gobaba/announcing-new-altcoin-listings-and-the-gobaba-trading-module
What is Stellar Lumens (XLM)?
(Official Website: https://www.stellar.org )
The Stellar network is a distributed blockchain based ledger and database that facilitates cross-asset transfers of value, including payments. The native digital asset of Stellar is called Lumens (XLM). In other words, Stellar is the payment network (Horizon API and Stellar Core) and Lumens (XLM) is the cryptocurrency.
Stellar (XLM) is one of the most popular cryptocurrencies of the past year and currently ranked 7th in terms of Market Cap as of writing this post. While it was started in 2014, it broke into the top 10, despite its low exchange rate. One big reason for its low rate is the very purpose of the coin and the way it is used. There are many interesting facts about Stellar Lumens which people do not know.
Interesting Facts about XLM
- It forked from Ripple Labs’ protocol
Stellar was originally based on the Ripple protocol and model. This can help us understand why Ripple and Stellar have so many common traits. It isn’t incorrect to say “Stellar is essentially a more open source and decentralized Ripple.”
- It is a non-profit organization
Stellar was founded by Jed McCaleb, creator of eDonkey, and Kim Joyce, an experienced investor. The purpose of this project was never to make money. Instead, Stellar has looked to harness the power of the blockchain technology to help the poor.
- It is compliant with Regulators
Stellar is part of a selected group of new wave cryptocurrencies which are fully compliant with regulators.
Stellar’s initial approach was anti-bank, but the partnership with IBM in 2017 changed things. IBM partnered with Stellar to make a cross-boundary payment system for banks. This can also be seen as a sign of the trust which regulators and financial bodies put in Stellar (XLM).
- Nearly 50% of the staff are women
Technology, or more specifically cryptocurrencies and the blockchain technology, was among the few areas where the presence of women was still lacking. But with Stellar, things are changing. Women make up about 50% of Stellar’s staff.
How to buy XLM on Gobaba?
You can buy XLM within minutes using Gobaba. While buying XLM, you have 2 options. You can directly XLM from direct “Buy/Sell” section of Gobaba using your Fiat wallets. See below the guide on how to buy XLM using your Euro wallet:
As a second option, you can give orders on the Gobaba trading module for the price that you wish to buy XLM for and once your ask corresponds to any sell order, your order will be placed.
XLM MARKET DATA
- Trading price (past 24 hrs): €0,22 EUR (~ ₺1.02 TRY )
- Global Market Cap: €3,485M EUR
- Global Trading Volume (past 24 hrs): €41.3M EUR
- All time high: €0.90 EUR ( ₺ 38.36 TRY)
- Circulating Supply: 18.6 M XLM
- Total Supply: 104M XLM
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