{"id":4609,"date":"2022-02-15T18:34:21","date_gmt":"2022-02-15T16:34:21","guid":{"rendered":"https:\/\/walloftraders.com\/blog\/?p=4609"},"modified":"2023-02-28T02:50:32","modified_gmt":"2023-02-28T01:50:32","slug":"stellar-and-stellar-lumens-xlm-explanations","status":"publish","type":"post","link":"https:\/\/walloftraders.com\/blog\/en\/stellar-and-stellar-lumens-xlm-explanations\/","title":{"rendered":"Stellar and Stellar Lumens (XLM) &#8211; Explanations"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_75 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/walloftraders.com\/blog\/en\/stellar-and-stellar-lumens-xlm-explanations\/#Stellar_a_blockchain_network_to_transfer_currencies\" >Stellar, a blockchain network to transfer currencies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/walloftraders.com\/blog\/en\/stellar-and-stellar-lumens-xlm-explanations\/#Tokenization_and_Anchors\" >Tokenization and Anchors<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/walloftraders.com\/blog\/en\/stellar-and-stellar-lumens-xlm-explanations\/#Lumen_the_currency_of_Stellar\" >Lumen, the currency of Stellar<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/walloftraders.com\/blog\/en\/stellar-and-stellar-lumens-xlm-explanations\/#Advantages\" >Advantages<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/walloftraders.com\/blog\/en\/stellar-and-stellar-lumens-xlm-explanations\/#The_inconvenients\" >The inconvenients<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/walloftraders.com\/blog\/en\/stellar-and-stellar-lumens-xlm-explanations\/#Future_of_Stellar\" >Future of Stellar<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"stellar-a-blockchain-network-to-transfer-currencies\"><span class=\"ez-toc-section\" id=\"Stellar_a_blockchain_network_to_transfer_currencies\"><\/span>Stellar, a blockchain network to transfer currencies<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Stellar is an open-source protocol and decentralized <strong><a href=\"https:\/\/walloftraders.com\/blog\/en\/the-guide-to-cryptocurrencies-to-follow-in-2023-by-stellar-a-xrp\/\">cryptocurrency <\/a><\/strong>blockchain network. It allows <strong>the transfer of fiat currency or value<\/strong> either locally or across borders. Stellar allows people to send currencies anywhere in the world <strong>at no cost<\/strong>. It uses the Byzantine algorithm for its consensus which is different from other crypto platforms. <strong>Byzantine is fast<\/strong> and nodes can reach a consensus of a value even with the existence of unresponsive or malicious nodes in the system.<\/p>\n\n\n\n<p>Byzantine algorithm adapted Federal Byzantine Agreement (FDA) which is <strong>hard to alter<\/strong> and which leads to centralization of the platform. FDA has all the advantages of allowing new nodes without checking their trustworthiness but <strong>without altering the security of the system<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"810\" height=\"476\" src=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-85.png\" alt=\"How does Stellar work?\" class=\"wp-image-7077\" srcset=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-85.png 810w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-85-300x176.png 300w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-85-768x451.png 768w\" sizes=\"(max-width: 810px) 100vw, 810px\" \/><\/figure>\n\n\n\n<p>Stellar was co-founded in 2014 by Jed McCaleb who is also the co-founder of <strong>Ripple<\/strong> and Joyce Kim and was officially launched in 2015. It was founded under Stellar Development Foundation which is <strong>a non-profit making organisation<\/strong>.&nbsp;It runs its operations through tax-deductible donations. Furthermore, it allows the transfer not only of fiat currencies but practically anything including gold.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"tokenization-and-anchors\"><span class=\"ez-toc-section\" id=\"Tokenization_and_Anchors\"><\/span>Tokenization and Anchors<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>On Stellar, people don\u2019t send an actual currency but <strong>a token of that currency<\/strong>. For example if you need to send dollars you don\u2019t send actual dollars but rather Dollar tokens. These currency tokens live <strong>on the Stellar network<\/strong> and have the same value as the currency. They are backed on a ratio of one to one on a bank account that is dedicated to the purpose. <strong>This tokenization of any currency<\/strong> is well integrated into the protocol. Therefore, <strong>any fintech company<\/strong> can offer fiat back tokens. This network doesn\u2019t only allow tokenization of currencies but other assets like gold, shares and many more.<\/p>\n\n\n\n<p>The Stellar network <strong>uses Anchors<\/strong>. They act as the bridge between the Stellar blockchain and the traditional financial systems. <strong>Anchors work as token issuers or provide fiat on\/off ramping or both<\/strong>. This means that Anchors are local businesses that offer currencies in a particular country or region. <strong>Anchors charge a small fee<\/strong> for the services they provide.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"lumen-the-currency-of-stellar\"><span class=\"ez-toc-section\" id=\"Lumen_the_currency_of_Stellar\"><\/span>Lumen, the currency of Stellar<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Lumen with a ticker sign XLM<\/strong> is the native currency on the Stellar network. It is used <strong>for fee payment<\/strong> for the transaction on the network. Lumen is ideal for <strong>very fast micropayments<\/strong>. Indeed, it has up to 5 seconds transactions completion period and a minimum fee of 0.00001 XLM.<\/p>\n\n\n\n<p><strong>It cannot be mined<\/strong>. The initial mining of 100 billion Lumens with a 1% yearly inflation rate is what was in circulation until 2019. Then, <strong>the number of Lumens was reduced to half and no more are to be added<\/strong>. 20 billion Lumens were in circulation and the rest held by Stellar foundation for development and advertising.<\/p>\n\n\n\n<p>It costs lower to run a node on Stellar. In addition to the no-mining policy, users only get <strong>incentives for securing the network<\/strong>. Companies that have built their products on top of Stellar who use nodes to verify their transactions help to secure the network. These companies include IBM and Satoshi Pay.<\/p>\n\n\n\n<p>We hope you have loved to learn about Stellar, one of the most famous cryptocurrency. To go further, you can learn <a href=\"https:\/\/walloftraders.com\/blog\/en\/category\/cryptocurrencies\/\">about the other cryptocurrencies<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Advantages\"><\/span>Advantages<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"827\" height=\"450\" src=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-84.png\" alt=\"\" class=\"wp-image-7076\" srcset=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-84.png 827w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-84-300x163.png 300w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-84-768x418.png 768w\" sizes=\"(max-width: 827px) 100vw, 827px\" \/><\/figure>\n\n\n\n<p>Stellar has many advantages as a digital payment platform. First of all, trading on Stellar is fast and inexpensive, thanks to its distributed consensus technology. This makes the platform ideal for<strong> cross-border money transfers<\/strong> And<strong> international payments<\/strong>.<\/p>\n\n\n\n<p>Additionally, Stellar offers great flexibility for creating and exchanging different<strong> digital assets<\/strong>. We find in particular<strong> currencies<\/strong>, of the<strong> tokens<\/strong> and<strong> assets based<\/strong> on the blockchain. This feature allows users to customize their trades and trade different types of assets on the same platform.<\/p>\n\n\n\n<p>Stellar is also very accessible for users, with a user-friendly interface and an easy learning curve for beginners. This makes<strong> Stellar<\/strong> an attractive option for people looking to enter the world of cryptocurrency.<\/p>\n\n\n\n<p>Finally, it is a decentralized platform. This means that it is not controlled by a single entity or government. She offers a<strong> security<\/strong> and an<strong> increased confidentiality<\/strong> for platform users.<\/p>\n\n\n\n<p>Overall, Stellar offers significant advantages as a digital payment platform. For example, fast transactions and<strong> inexpensive<\/strong>, a<strong> great flexibility<\/strong> for the<strong> creation<\/strong> And<strong> the exchange<\/strong> of digital assets, easy accessibility and increased security.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_inconvenients\"><\/span>The inconvenients <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Despite its many advantages, it also has some disadvantages. First of all, the platform is still relatively new. This means that it has not yet been widely adopted by merchants and businesses. This can make it difficult for users to use Stellar to make purchases online or in physical stores.<\/p>\n\n\n\n<p>Moreover, as Stellar aims to offer a payment solution<strong> inexpensive<\/strong>, its ability to<strong> transaction processing<\/strong> is limited compared to other cryptocurrency platforms. This can lead to longer wait times for processing transactions, especially during times of high demand.<\/p>\n\n\n\n<p>Finally, it is important to note that the Stellar platform is not immune to<strong> hacks<\/strong> and malicious attacks, just like other cryptocurrency platforms. Users should take precautions to protect their<strong> wallet<\/strong> and their<strong> money<\/strong>.<\/p>\n\n\n\n<p>In conclusion, although Stellar offers many advantages as a digital payment platform, it is important to consider its potential disadvantages before deciding to use this platform.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Future_of_Stellar\"><\/span>Future of Stellar<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The future of Stellar looks bright, given its potential to become a popular digital payment solution and its growing adoption in the<strong> whole world<\/strong>. The platform is in the process of developing important partnerships with leading financial institutions and companies, which strengthens its<strong> credibility<\/strong> and his<strong> position<\/strong> on the market.<\/p>\n\n\n\n<p>Stellar is also developing innovative technologies to enhance its platform, such as smart-contracts functionality and the ability to create custom digital assets. These<strong> improvements<\/strong> should strengthen the<strong> versatility<\/strong> of the platform and expand its<strong> potential applications<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-83-1024x512.png\" alt=\"What is Stellar?\" class=\"wp-image-7075\" srcset=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-83-1024x512.png 1024w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-83-300x150.png 300w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-83-768x384.png 768w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-83-1536x768.png 1536w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-83.png 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Additionally, Stellar continues to expand its reach across the globe by partnering with financial institutions in regions such as<strong> africa<\/strong>,<strong> asia<\/strong> And<strong> Latin America<\/strong>. These partnerships aim to bring affordable payment solutions to people who don&#8217;t have access to traditional banking services, which could help broaden adoption of the platform.<\/p>\n\n\n\n<p>Overall, Stellar&#8217;s future looks bright as a global digital payment platform, with continued technology improvements and a<strong> increasing adoption<\/strong> worldwide.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p>You can invest in Stellar but you should understand that cryptocurrencies are volatile and work on speculation. Therefore you should only put the money you can comfortably lose.<\/p>\n\n\n\n<p>You will surely like our other articles on the main cryptocurrency news, for example: &#8220;<strong><a href=\"https:\/\/walloftraders.com\/blog\/en\/xrp-cryptocurrency-advantages-controversies\/\">XRP <\/a><\/strong>cryptocurrency: between advantages and controversies&#8221;, &#8220;<strong><a href=\"https:\/\/walloftraders.com\/blog\/en\/what-is-dogecoin\/\">Dogecoin<\/a><\/strong>: a popular crypto on the rise?&#8221; \u201c, \u201c<a href=\"https:\/\/walloftraders.com\/blog\/en\/shiba-inu-token\/\"><strong>Shiba-Inu<\/strong><\/a>: A cryptocurrency with the best community? &#8220;, &#8220;<strong><a href=\"https:\/\/walloftraders.com\/blog\/en\/stellar-and-stellar-lumens-xlm-explanations\/\">Stellar <\/a><\/strong>and Stellar Lumens (XLM) &#8211; Explained&#8221; and &#8220;<strong><a href=\"https:\/\/walloftraders.com\/blog\/en\/solana-the-fast-scalable-and-inexpensive-cryptocurrency\/\">Solana<\/a><\/strong>: The Fast, Scalable and Inexpensive Cryptocurrency&#8221;.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div class=\"wp-block-social-warfare-social-warfare\"><div class=\"swp_social_panel swp_horizontal_panel swp_flat_fresh  swp_default_full_color swp_individual_full_color swp_other_full_color scale-100  scale-\" data-min-width=\"1100\" data-float-color=\"#ffffff\" data-float=\"none\" data-float-mobile=\"none\" data-transition=\"slide\" data-post-id=\"4609\" ><div class=\"nc_tweetContainer swp_share_button swp_twitter\" data-network=\"twitter\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/intent\/tweet?text=Stellar+and+Stellar+Lumens+%28XLM%29+-+Explanations&url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fstellar-and-stellar-lumens-xlm-explanations%2F&via=WallOfTraders\" data-link=\"https:\/\/twitter.com\/intent\/tweet?text=Stellar+and+Stellar+Lumens+%28XLM%29+-+Explanations&url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fstellar-and-stellar-lumens-xlm-explanations%2F&via=WallOfTraders\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_twitter_icon\"><\/i><span class=\"swp_share\">Tweet<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_facebook\" data-network=\"facebook\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/share.php?u=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fstellar-and-stellar-lumens-xlm-explanations%2F\" data-link=\"https:\/\/www.facebook.com\/share.php?u=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fstellar-and-stellar-lumens-xlm-explanations%2F\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_facebook_icon\"><\/i><span class=\"swp_share\">Share<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_linkedin\" data-network=\"linkedin\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/cws\/share?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fstellar-and-stellar-lumens-xlm-explanations%2F\" data-link=\"https:\/\/www.linkedin.com\/cws\/share?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fstellar-and-stellar-lumens-xlm-explanations%2F\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_linkedin_icon\"><\/i><span class=\"swp_share\">Share<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_pinterest\" data-network=\"pinterest\"><a rel=\"nofollow noreferrer noopener\" class=\"nc_tweet swp_share_link noPop\" href=\"https:\/\/pinterest.com\/pin\/create\/button\/?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fstellar-and-stellar-lumens-xlm-explanations%2F\" onClick=\"event.preventDefault(); \r\n\t\t\t\t\t\t\tvar e=document.createElement('script');\r\n\t\t\t\t\t\t\te.setAttribute('type','text\/javascript');\r\n\t\t\t\t\t\t\te.setAttribute('charset','UTF-8');\r\n\t\t\t\t\t\t\te.setAttribute('src','\/\/assets.pinterest.com\/js\/pinmarklet.js?r='+Math.random()*99999999);\r\n\t\t\t\t\t\t\tdocument.body.appendChild(e);\r\n\t\t\t\t\t\t\" ><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_pinterest_icon\"><\/i><span class=\"swp_share\">Pin<\/span><\/span><\/span><\/span><\/a><\/div><\/div><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><em>This article is not investment advice. Do your own research before investing in the cryptocurrency market.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stellar, a blockchain network to transfer currencies Stellar is an open-source protocol and decentralized cryptocurrency blockchain network. It allows the transfer of fiat currency or value either locally or across borders. Stellar allows people to send currencies anywhere in the world at no cost. It uses the Byzantine algorithm for its consensus which is &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Stellar and Stellar Lumens (XLM) &#8211; Explanations\" class=\"read-more button\" href=\"https:\/\/walloftraders.com\/blog\/en\/stellar-and-stellar-lumens-xlm-explanations\/#more-4609\" aria-label=\"More on Stellar and Stellar Lumens (XLM) &#8211; Explanations\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":4612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[192],"tags":[],"class_list":["post-4609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","masonry-post","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stellar and Stellar Lumens (XLM) - Explanations<\/title>\n<meta name=\"description\" content=\"Stellar is a decentralized blockchain network to transfer currencies. 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