What's Stellar (XML)?

What's Stellar (XML)?

By Hephaesvus | Hephaestus | 20 Sep 2020


Stellar is a cryptocurrency founded in 2014 by Mt Gox together with Ripple's founder Jed McCaleb. Stellar is traded on XLM and is funded by the nonprofit Stellar Development Foundation.

Stellar provides payment systems between financial institutions and aims to provide smooth exchange between currencies around the world and low financial costs to all. By connecting to payment platforms such as Stellar M-Pesa and similar, it increases the service area and transaction volume of financial institutions. The essence of Stelları is based on the storage of distributed ledgers on a decentralized network and is similar to many other digital currencies. But what sets Stellar apart from other cryptocurrencies is that it can be exchanged directly on its network. Thanks to trusted parties in the network, users can deposit and withdraw money.

Stellar is used for currency-denominated payments, however Lumens - has its own cryptocurrency called Stellar. Like other cryptocurrencies, Stellar can be bought and sold on the stock exchange.

1 Stellar (XML) = 0.078133 USD.



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