Stellar (XLM) has been around for quite some time now, trading for four years already and still counting. During this period of time, Stellar soon earned the status of one of the top 10 cryptos, while it even expelled Litecoin (LTC) as of the most recent events, that way taking the 6th spot on the official list of coins and tokens.
Stellar has a market cap of over 6 billion dollars, while it is showing numerous signs of progress, both in the market and in the blockchain industry within making partnerships and utilizing integrations.
What makes Stellar unique in the world of 1000+ different ICOs and is XLM worth investing in?
What is Stellar?
Stellar (XLM) was launched as a distributed ledger blockchain based platform almost four years ago, back in 2014. The foundation that issued Stellar Lumens years back is a non-profit organization and as such claims not to be profiting directly from having investors interested in Lumens (XLM), which is the official currency of the Stellar network.
Stellar network is designed with a purpose to support and ensure any type of value transfers, which of course includes payment transfers, while primarily being focused on diminishing poverty through cheap cross-border payments, by allowing people to send money over at lower costs and with faster delivery time.
For transferring money, the Stellar network is using XLM, otherwise known as Lumens.
One of the biggest “rivals” for Lumens is said to be Ripple since it is the fact that both Stellar and Ripple are aiming at revolutionizing the industry of banking and financial technology.
While Ripple is known by being commonly integrated into the systems of financial institutions across the world, while big names like Western Union and Santander bank have been testing Ripple for live global transactions, Lumens is still a faster solution for sending payments, while fee for your Lumens powered transactions will always go as low as 0.00001 Lumens, while XLM is still being traded under 1$.
Stellar, however, is not lacking the big names two, as they have partnered up with tech giant, IBM.
While transferring XLM across the Stellar network, transactions can be also made with more than several supported assets, as well as fiat currencies like EUR or USD, which adds on the value of XLM in the market.
How Does Stellar Lumens Work?
Stellar is embracing the term of decentralization by creating a scalable infrastructure that doesn’t in any way depend on a single power source.
Instead of having a center of power integrated into the infrastructure of the network, Lumens uses multiple independent servers that participate in the network while assuring functionality.
Precisely this infrastructure allows Stellar to perform multi-currency transactions, while also offering low fees and fast processing time for each transaction, that way competing with big names like Ethereum and Ripple that are currently holding the second and third place on the ranking list.
In addition to having enabled fast and cheap transactions on the chain, Stellar network prevents delays on the network as well as crashing, as even if one of the servers reports an error, the network is able to continue with normal functions as the remaining multiple servers would support the reported bug, making the network basically unfaultable.
The Future of Stellar
Stellar is in the process of embracing multiple integrations while also working on technical developments, especially being active during the last couple of months judging by the media attention that Lumens is enjoying.
As the partnership with IBM is starting to unravel its purpose, as of the most recent events, it was announced that IBM Is working on creating “the first crypto dollar” and Stellar network should respectfully become a home for this asset, promising more potential gains against the fiat in the following months.
Alongside with acquiring integral partnerships, the Stellar organization is working on creating the Lightning Network, that would additionally improve Lumens ecosystem, making it even faster and more scalable, which might consequently bring Stellar to an awesome position in the market to an epic throne of cryptoverse.
Should I Invest in Lumens XLM?
Stellar XLM currently makes up for open of the top coins on the ranking list, as of the most recent case taking the 6th spot on the official coin list.
In addition to progressing both in the market and on the field of mass adoption and global integration, XLM also represents one of the most prominent investments for less than one dollar per one unit, while it is showing valuable improvements in the market for the last couple of days, going by 6% in the last 24 hours.