Recently, the Stellar community was positive with European Central Bank (ECB) president Christine Lagarde’s statement closely linked to the blockchain when they were considering issuing a digital euro currency or commonly known as a central bank digital currency (CBDC).
What is Stellar (XLM)?
Launched in 2014 by Ripple co-founder Jed McCaleb in collaboration with former attorney Joyce Kim, Stellar is a distributed blockchain-based ledger and database that facilitates cross-asset value transfer and payments.
Stellar works much like PayPal but its distribution ecosystem and native currency make cross-asset and cross-border transactions easier and faster at an affordable cost.
Its currency is known as Lumens (XLM) and Stellar not only supports XLM but also accepts other token assets, much like Ethereum.
Very synonymous as Ripple mirroring (XRP) because it was initially developed based on the Ripple model and protocol. Thus, Stellar not only supports the exchange between fiat currencies and between cryptocurrencies, but also centralized and able to perform cross -platform transactions including micro transactions.
In addition, Stellar also has:
The transaction cost rate for Lumens is low - starting around 0.00001 lumens.
Faster transactions, rivaling Ripple.
Secure, protected by the Stellar Consensus Protocol to ensure network security through a decentralized network
There is no denying Stellar and its currency compete with other crypto dumping. Still, the two compete very strongly with Ethereum and Ripple as they are digital partners for banking and business.
At the time of writing, XLM is trading at $ 0.53, soaring over 16% in 24 hours. Its market value is over $ 12 billion.
