Introduction
What is Cryptocurrency Stellar Lumens? Stellar is an open network for storing and moving money. This network makes it possible to create, send, and trade digital representations of all forms of money like dollars; bitcoin, pesos, pretty much anything. We can do work together with the world’s financial systems in a single network.
It has no owner. It’s owned by the public. Its software runs across a decentralized. Stellar can handles millions of transactions each day. It also relies on blockchain to keep the networks in sync. Stellar is much faster, cheaper, and more energy-efficient than typical blockchain-based systems.
When Cryptocurrency Stellar Lumens was Founded?
The Stellar was founded by Jed McCaleb in 2014. This is a network launched in 2015. It’s processed more than 450 million operations and made by over 4 million individual accounts. IBM and Franklin Templeton and as small as single dev startups companies have chosen Stellar networks to move money and access new markets.
From the beginning, Stellar has cryptocurrency. But the software has always been intended to enhance rather than undermine or replace the existing financial system. Bitcoin network was made for trading only Bitcoins. On the other hand, Stellar is a decentralized system that’s very easier and great for trading any kind of money in a transparent and efficient way. This network has a native digital currency.
Why Cryptocurrency Stellar Lumens was made?
This network was made to support digital representations of any currency, but it is own built-in token that called the lumen, created to fill a special role in the network. The lumen, that’s required in small amounts for initializing accounts and making transactions. So that each account of Stellar requires to hold a small number of lumens at all times. For this reason, the full technical details are covered in Stellar’s docs.
Importance of Cryptocurrency Stellar Lumens
We can say that Stellar is a fast, efficient network for trading, saving, spending digital money. For builders, it is an open financial infrastructure. Anyone can access this network very easily. There is no permission or application needed. That basket of currency tokens they just mentioned those are on the networks, ready to use. Stellar Development Foundation, a nonprofit company based in the U.S. This foundation helps maintain Stellar’s codebase, supports the engineering and business communities around the Stellar, and also speaking partner to regulators and institutions.
Conclusion
The Foundation has no shareholders, so it can be purely dedicated to the success of Stellar as a neutral and public network.
What is Cryptocurrency Stellar Lumens?
Author: Md Abdullah Al Maruf
Department of English and Humanities
University of Liberal Arts Bangladesh (ULAB)
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