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Stellar Lumen
About Stellar Lumen
Stellar is an open-source, decentralized blockchain network designed to facilitate the transfer of money and other assets between people and institutions. It was created by Jed McCaleb and Joyce Kim in 2014 and is overseen by the Stellar Development Foundation (SDF). Stellar can support a wide range of use cases, including remittances, micropayments, mobile money, and mobile banking, and is an attractive option for those looking to transfer funds across borders quickly and efficiently. The network's native cryptocurrency, the lumen (XLM), serves as a digital asset for denominating network requirements, and is required to meet minimum balance requirements and pay transaction fees. In addition, it can act as a medium of exchange between otherwise illiquid assets, making it easier to move money between users.
Stellar is an open-source, decentralized blockchain network designed to facilitate the transfer of money and other assets between people and institutions across the world. It was created to enable fast and efficient cross-border transactions, with low fees and without the need for traditional financial intermediaries. The network's native cryptocurrency is called the lumen (XLM), which serves as a digital asset for denominating network requirements.
Stellar is used for a wide range of use cases, including remittances, micropayments, mobile money, and mobile banking. Its unique features, such as its ability to facilitate cross-border transactions in multiple currencies, make it an attractive option for individuals and institutions looking to transfer funds across borders quickly and efficiently. Additionally, Stellar can support the creation of new assets, including digital currencies, security tokens, and even real-world assets such as commodities or real estate.