The payment system is one subtle issue that blockchain technology tries to resolve. Several decentralized projects have used the blockchain and intend to make the financial system consistent without intermediaries. Stellar has made this concept to pursue their plan of a distributed ledger globally, and now, they are proudly announcing that they have extended their scope and had XLM, their intrinsic currency listed at KuCoin.
KuCoin is a well-reputed cryptocurrency exchange market that does not promise but assures credibility, reliability, and security among traders and partners.
Stellar XLM is now open for deposit immediately while buying at 19:30 (UTC+8). Selling and Withdrawal commence at 20:00 (UTC+8). Any related transactions can be executed by using KuCoin’s app for iOS and Android or to their official website, www.kucoin.com.
An Introduction to Stellar XLM
The Stellar network is a distributed blockchain based ledger and database that promotes cross-asset transfers of value that include payments. The native digital asset of Stellar is called Lumens XLM.
Stellar is the payment network (Horizon API and Stellar Core), and Lumens (XLM) is the cryptocurrency. The networks are both managed by a non-profit recognized as Stellar.org.
Stellar as the non-profit and network and Lumens, the cryptocurrency main selling features are:
– The Stellar network is described as an open source, distributed, and community-owned system utilized to facilitate cross-asset transfers of value. It doesn’t manage all software types like Ethereum, but it is one of the only other options for ICOs aside from Ethereum.
– Stellar can handle transfers between fiat-based currencies and between cryptocurrencies.
– Lumens have low charges with each transaction has a lesser fee of 0.00001 lumens associated.
– The Stellar network, and so Lumens and any other asset utilizing the Lumen network, has accelerated transaction speeds that competing Ripple.
– Stellar.org, the organization that supports Stellar, is centralized like Ripple and meant to handle cross-platform transactions and microtransactions like Ripple.
– Stellar.org is non-profit and their platform itself is open source and decentralized. Thus, they have the perk of considering a bit more like a traditional company who can network with other companies on the one hand, but have the open source, distributed, and community-owned vibe that Ethereum and Bitcoin have on the other.
As a conclusion, Stellar and its Lumens are contentious with other cryptos on several levels but are in straight competition with Ethereum for ICOs and Ripple for being a digital companion for banks and companies.