_%201000%20x%20574%20(7).webp)
Currently 10 years in the making and almost 10x away from its previous ATH, this is potentially one of crypto’s biggest sleeping giants, $XLM could be one nudge away from rising to new highs.
The exploration into the Stellar network starts here.
What is Stellar ($XLM)?
Stellar is a decentralized P2P network created in 2014 by the co-founder of Ripple ($XRP), Jed McCaleb with the mission to connect the world’s largest financial systems into one open-source blockchain where individuals, payment providers and financial institutions can shift digital assets cheaply, swiftly and efficiently.
Why Stellar?
It’s needless to say that the global financial system is ridiculously slow, expensive, unsustainable, outdated and to be frank, extremely overdue for an upgrade. According to sources, cross-border payments cost an average of 6.3% of the total transaction and can take up to five working days to process.
Simply unsustainable. Trillions get sent across borders, in a wide range of assets every single minute of the day. Individuals, payment providers, financial institutions and businesses are searching for a cheaper, faster and more sustainable alternative.
This is where “The Real World Blockchain”, Stellar ($XLM) comes in.
The Stellar blockchain provides a superior solution to this real-world problem by enabling ultra-cheap and super-speed transactions for users of the network. Assets can be easily transferred between users on the network in a matter of seconds and cost a fraction of a cent.
Stellar Ecosystem
With a primary focus on building an ecosystem dedicated to cross-border and cross-asset payments, Stellar has attracted and partnered with some of the largest payment systems and DeFi protocols such as Circle, MoneyGram, Franklin Templeton and that’s excluding the 464 other protocols in the ecosystem.
Stellar strives to create the perfect suite of dApps in its ecosystem to suit the needs of the masses. There is more to Stellar than meets the eye as they are not limited to cross-border payments but can also be utilized for DeFi, Real World Asset (RWA) Tokenization, On and Off Ramping, Aid Disbursements and much more.
Stellar Lumens ($XLM) Token
Fueling the network and Stellar ecosystem is the lumen ($XLM) token which is primarily used to facilitate transactions and pay for fees on the network. Nonetheless, $XLM is used to secure the Stellar network and fund new projects looking to build within the ecosystem.
Conclusion
According to CoinMarketCap, at the time of writing, $XLM is currently trading at $0.097 with a market cap of $2.87B, ranking it the 31st largest cryptocurrency. Stellar $XLM has achieved a previous ATH of $0.93, almost 10x away from its current price and could very well head back towards that direction in the coming bull run.
To conclude, for those wondering what the difference between $XLM and $XRP is, in a nutshell, Ripple’s $XRP is primarily used for banking transactions whilst the Stellar Lumen $XLM token is used to facilitate cross-border and cross-asset payments in a decentralized manner.
Have Ripple and Stellar collided to create the ultimate infrastructure for finance?
Only time will tell…
Official Stellar & Ripple Links
Stellar X
Disclaimer
The content provided in this article is strictly intended for informational purposes. Nothing said in this article is financial advice. It is important to proceed with caution and diligence when using cryptocurrencies. Always invest what you are prepared to lose and remember that you are entirely responsible for your assets and investments. The author and the publication do not endorse or recommend any of the cryptocurrencies, protocols or strategies in this article.
%3F%20500%20x%20288%20(3).webp)
%3F%20500%20x%20288.webp)
%3F%20500%20x%20288%20(24).webp)
_%20500%20x%20288%20(24).webp)
.webp)
%3F%20500%20x%20288%20(6).webp)
