All about Stellar Blockchain
Stellar is an open network that is being used globally for storing and moving money all around the world. The APIs and SDKs of Stellar are all set to assist you to revolutionize the finances of the entire globe. The Bitcoin Transactions of this network also gives the companies power as well as the reach of a transnational bank.
When bitcoin was bringing in headlines in the past five years, there were other alternate coins and crypto platforms that were also gaining impressive profits and traction among all crypto developers, and Stellar was among them.
In the year 2017, the worth of Lumen (XLM), Stellar’s token, increased by 34,900%. After one year, in 2018, the worth dropped by 77% but the price was comparatively stable all over 2019 and 2020. Stellar’s performance got better even more in 2021, following an increment of 226% from January till March. According to the declaration of September 2021, its market capitalization was 6.96 billion dollars.
In a nutshell, Stellar is a decentralized network platform where users can create, send and trade various forms of cryptocurrencies. This network was developed in 2014 and officially introduced to the public in 2015. The primary aim of this project is to unite the financial system of the world on one network.
Similar to other decentralized networks and exchange platforms that depend on blockchain technology, Stellar is expanded all across various servers. This shows the activity done on Stellar is not regulated by a single source.
Stellar offers a quite interesting opening for the trader in search of expanding their holding away for Bitcoin BTC.
Why Is Stellar Better Than Ripple?
Both the crypto platforms differ in their aims and goals. The purpose behind Ripple’s creation was to enable banks to make transfers all around the world within a few seconds with very small charges. This crypto asset upgraded the efficacy of banks and financial systems.
On the other hand, Stellar was developed keeping the average user in mind and for the people living in undeveloped countries. The platform of Stellar offers access to the international economy by easy, speedy, and fewer charges of transactions. The average individual can utilize Ripple cryptocurrency and banks can use Stellar.
Both of the crypto assets were created for particular users and investors to offer a more productive experience to their targeted markets.
From Where Can You Purchase Stellar Lumens (XLM)?
People can easily purchase Lumens straight from the platform of Stellar. There are also other ways to do so. The Lumens are available on various crypto exchange platforms that include:
- FMO Coin
Other than these if you prefer other platforms, there is a good chance it offers Lumens (XLM).
Should People Consider XLM A Good Investment?
When considering investing in XLM or whether it is a good investment or not, check two factors, which are how Lumens (XLM) has been performing and what is their potential.
History of Performance
To date, XLM has fulfilled its promise. Since the launch of this digital asset, it’s worth has increased from a small fraction of a cent to $0.2627 as per the statistics of January 2017. It is known that just like other digital currencies, Stellar Lumens also went through major fluctuations and got stable from 2018 through 2020.
Here we have an example, XLM has climbed from less than 9 cents in November of 2020 to 73 cents in May 2021. But then again it has dropped back to its present value which is just around 26 cents.
This entire growth recommends that XLM could be a practical and longstanding investment but also carries some major risks.
To date, Stellar has destroyed half of its Lumens and does not plan to create any more tokens. This act places doubts on its potential for investment. On the other hand, it is majorly important to see that this digital asset will be rare in the coming times. We all know that rarity increases the value as this is the case with Lumens.
Stellar was initiated when McCaleb left Ripple in 2014. This cryptocurrency has survived many growth turns. In less than 1 year, Stellar managed to get over 3 million user accounts. In the meantime, Stellar has created a network with various partners like Flutterwave and Moneygram.