What currency is Stellar Lumens?

Stellar Lumens (XLM) is a cryptocurrency focused on cross-border payments, with features including: Fast Transactions: Can process over 1,000 transactions per second. Low fees: Fees are usually a fraction of a cent. Scalability: Suitable for commercial applications. Multi-currency support: Supports multiple fiat currencies and cryptocurrencies to facilitate cross-border payments.

Stellar Lumens: A Cryptocurrency Focused on Cross-Border Payments

Stellar Lumens (XLM) is a Decentralized cryptocurrency launched in 2014. Its main goal is to facilitate fast, low-cost and scalable cross-border payments.

Features

• Fast Transactions: The Stellar network can handle over 1,000 transactions per second.
• Low handling fees: The handling fees for Stellar transactions are very low, usually a fraction of a cent.
• Scalability: The Stellar network is designed to handle large volumes of transactions, making it suitable for commercial applications.
• Multi-currency support: Stellar supports a variety of fiat currencies and cryptocurrencies to facilitate cross-border payments.

Uses

The main uses of Stellar Lumens include:

• Cross-border remittances: Stellar Lumens Allows users to send money to others around the world quickly and cost-effectively.
• Business Payments: Businesses can use Stellar to make bulk payments or accept payments from customers around the world.
• Stablecoin Anchoring: Stellar is used as collateral by some stablecoins to keep it pegged to fiat currencies.

How it works

Stellar uses distributed ledger technology to record transactions. It has a unique consensus mechanism called Stellar Consensus Protocol (SCP) which is very fast and energy efficient.

Market Cap and Exchanges

As of February 2023, Stellar’s ​​market cap is approximately $5 billion. It is listed on many major cryptocurrency exchanges, including Binance, Coinbase, and Kraken.

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