What is Stellar XLM?

The first question anyone considering investing in cryptocurrencies should ask themselves is ‘What is Stellar? & What is XLM’. Stellar cryptocurrency is a decentralized, open-source blockchain platform designed to facilitate fast and secure cross-border payments and asset transfers. It was created by Jed McCaleb, the co-founder of Ripple, and officially launched in 2015.

What is Stellar used for & how does XLM work?

Stellar’s unique architecture consists of a decentralized network of nodes that process transactions using the Stellar Consensus Protocol (SCP). This consensus protocol enables fast transaction processing and ensures network security by allowing nodes to reach agreement on the validity of transactions without the need for mining or proof-of-work.

One of the key features of Stellar is its ability to facilitate cross-border payments and asset transfers with minimal fees and transaction times. This is made possible through its native cryptocurrency, called Lumens (XLM), which can be used to facilitate transactions and cover network fees.

Stellar also offers a built-in decentralized exchange (DEX), which allows users to trade Lumens and other assets issued on the Stellar network in a fast and secure manner. This DEX enables users to easily convert between different currencies, including fiat currencies, and cryptocurrencies.

Stellar’s focus on facilitating cross-border payments and asset transfers makes it an attractive option for individuals and businesses looking for a fast, secure, and cost-effective way to transfer funds internationally. Its ability to operate as a decentralized exchange and support the creation of custom assets also makes it a valuable tool for developers and businesses looking to build decentralized applications and solutions on the blockchain.

Overall, Stellar is a powerful and innovative blockchain platform that offers unique features and capabilities for users, developers, and businesses alike. Its focus on fast, secure, and cost-effective cross-border payments and asset transfers, as well as its built-in DEX, make it an attractive option in the rapidly-evolving cryptocurrency and blockchain landscape.

How do I buy Stellar?

The easiest and most secure way to Buy Stellar is to download Atlas Wallet. You can also visit our How To Buy Stellar guide.