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


351665157-da864fa2005626c9a5120d89d08aa341d0da6f68c1f82e36469e64aab4804fed.png

Image Source

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.

351665157-38d071eea9b6faca5c0650c72ff6f596ef9a0b38c002b386f0822fdc3cc4647c.png

Image Source

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.

351665157-76dbab60f5b5b65b6652e51cf17f4470c79a31ec6d3718036c6fa1abb8064473.png

Image Source

 

CEX.IO allows for the buying of bitcoin and other cryptocurrencies for low fees via credit card, Debit card. Customers can also purchase for free (no fees) with bank transfers. The best thing about Cex is that it supports fiat currencies like USD and EUR which means you can withdraw your money and deposit it directly to your bank account without the need of a third party. In conclusion, Cex allows you to trade Cryptos, deposit funds from your bank account and also withdraw your funds to your bank account, it is an All-in-one exchange.

Please register through this link to support the blog: https://cex.io/r/0/up131023719/0/


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.


CryptoPlanet
CryptoPlanet

Get to know the most important and promising Crypto projects.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.