What is Stellar Lumens (XLM)? | An Open Network For Money
What is Stellar Lumens (XLM)? | An Open Network For Money

By NassiroV | CryptoPlanet | 17 Feb 2020


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The Stellar network

Stellar is a decentralized platform intended to set up different financial applications. It is managed by Stellar.org which is a non-profit organization. Stellar offers its users an independent exchange to trade all types of assets and currencies. This open-source project allows quick payments, validated in 2 to 5 seconds and for very low operating costs. Up to 1000 operations per second can be processed by the Stellar network.

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The Stellar protocol and the Lumen

Stellar’s ​​protocol does not include mining to create tokens, which means that all of the coins already exist when the network started. Lumen is the cryptocurrency associated with the Stellar network. It is used to pay the costs of financial transactions and helps ensure the authenticity of the accounts: each account must ensure that it has at least 20 units to stay active.

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NassiroV
NassiroV

Hi, and welcome to my blogs! ​I’m Nassir, a thirty-something American/Moroccan guy who loves to travel and write, especially about Crypto world. I have been blogging and trading cryptocurrencies for a while. I hope that you find my articles beneficial.


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