Exchange rate Stellar:
Table of Contents:
- What is Stellar?
- What was Stellar created for?
- Stellar consensus method - detailed description
- The history of the creation of the Stellar project
- Who are the makers of Stellar?
- What is the Stellar (XML) cryptocurrency?
- XML cryptocurrency - rate and forecasts
- On which exchanges is XML listed?
- Which cryptocurrency wallet to choose for XML?
What is Stellar?
Stellar is a decentralized open source payment protocol. It allows you to make quick international transactions using any currency pairs. This project has its own blockchain.
Transactions made in the Stellar network are added to a common, distributed database, available to every user around the world. Interestingly, Stellar uses its own unique method of consensus. It allows you to make fast and cheap transactions in just a few seconds.
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What was Stellar created for?
Exchanging fiat currencies, cryptocurrencies or tokens can be a long and costly process. Stellar solves this problem by becoming a global network that can handle thousands of such exchanges per second. This project offers solutions to bridge the gaps between traditional financial organizations and users.
Stellar provides tools that allow for quick and cheap cross-border transfers. Currently, making such transfers through banks is becoming not only time-consuming but also costly. This project therefore offers almost zero conversion, working with several payment processors as well as banking institutions.
In other words, Stellar works with centralized organizations in a decentralized manner. It solves the problems of traditional payment systems.
Stellar consensus method - detailed description
Stellar takes into account 4 key aspects when it comes to adding transactions to your blockchain. First, anyone can join the consensus process, and no user has all or most of the decision-making powers. This network has low latency, as transactions are confirmed within seconds.
Moreover, the nodes participating in the consensus choose their own set of trusted nodes. They may at any time refuse to cooperate with the “bad actors.” The last and very important aspect is security. Even if nodes fail or bad entities join the network, consensus can still be reached.
The above-presented aspects constitute a proposal to solve the consensus dilemma known as the Problem of Byzantine Generals (BGP). In this case, many generals are in command. Coordination takes place through messengers. The problem in this case lies in the errors in the communication itself and the credibility of the generals and messengers, who may turn out to be traitors. Solving the BGP dilemma requires Byzantine Error Tolerance (BFT). It occurs when all trustworthy generals come to an agreement.
It can be concluded that the Stellar consensus is a type of Federal Byzantine Agreement (FBA) known as the Stellar Consensus Protocol (SCP). Network errors appear as faulty or malicious nodes. In this case, Stellar can provide a guarantee that there will be no hard fork - splitting in the network. All because participants of this system have to vote for a given solution until an agreement is reached. If there is ever a discrepancy, the network will stop operating until a consensus is reached.
Who Made Stellar? The history of the project
The Stellar company was founded by Jed McCaleb and Joyce Kim as early as 2014. Interestingly, Jed McCaleb was also a co-founder of Ripple. He also created the Mt.Gox cryptocurrency exchange, which was hacked quite loudly.
Stellar is supported directly by The Stellar Development Foundation - led by Jed McCaleb. The official launch of the project took place in July 2014. It has been adapted to the payment sector.
In 2015, the Stellar Development Foundation updated the Stellar protocol to facilitate partnerships with banks. It was then that the work on the project began to gain momentum. Although it remained relatively unknown for the first few years since Stellar was launched, the breakthrough came when he entered into a partnership with Delloite.
What is the Stellar (XML) cryptocurrency?
The Stellar network has its own native XML cryptocurrency also called Lumen. It performs a function similar to Ether in Ethereum. You could say XML powers the Stellar network. This cryptocurrency is used, among other things, to pay transaction fees and keep accounts in the Stellar network.
The assumptions of the project show that a small amount of this cryptocurrency must remain in each account for XML. This is due to the basic structure of the book of Stellar. Without a nominal barrier, it could be filled with spam. This, in turn, would stand in the way of becoming a fast and efficient payment system. Currently, the minimum balance is 1 XML. The minimum transaction fee is 0.00001 XML.
Initially, 100 billion XML tokens were issued. In November 2019, the overall supply was halved. So there are only 50 billion Lumen coins left and no more. While 20 billion XML has hit the market, the remaining 30 billion has been retained by the Stellar Development Foundation for further development and promotion. These lumens will be on the market in the next few years.
XML cryptocurrency - rate and forecasts
The current XML price is $ 0.075229 according to CoinMarketCap (as of 02/19/2020). The market capitalization of this cryptocurrency is $ 1,518,643,329, which allows it to take 13th place in the ranking of all cryptocurrency projects. The total supply of XML is 50,001,803,906 coins. There are currently 20 187 010 882 XML in circulation.
Its ATH, i.e. the highest price level, this cryptocurrency reached on January 4, 2018. It was then $ 0.938144.
On which exchanges is XML listed?
This cryptocurrency is listed on many cryptocurrency exchanges, including reputable platforms such as Binance, Huobi Global, OKEx, Bitfinex and Kraken. Individual examples are also presented in the table below.
Cryptocurrency exchanges listing Stellar (XLM)
Which cryptocurrency wallet to choose for XML?
Are you looking for an XML enabled wallet? Here are some examples. This cryptocurrency can be attributed to both cold and hot wallets. When making your choice, focus primarily on safety.
Examples of cryptocurrency wallets for XLM
Cold wallets for XLM
Hot wallets for XLM
Include on your website a calculator Stellar and chart XLMUSD using the widgets below.
To run a calculator or chart on your site, please:
- Copy the code of the selected widget and paste it into the right place on your website
- You can also configure widgets as needed by modifying the parameters:
- data-crypto="" - enter a list of cryptocurrencies that will be available in the cryptocurrency calculator. Enter the cryptocurrency shortname. You can add many cryptos, e.g. BTC, ETH, TEO. You will find a list of available cryptocurrencies here. To add all cryptocurrencies - leave the tag empty.
- data-fiat="" - enter the list of FIAT currencies that will be available in the cryptocurrency calculator, you can choose multiple currencies by entering e.g. PLN, USD, EUR, GBP. To add all FIAT currencies - leave the field blank.
- Parameters are configurable for the cryptocurrency calculator. In the case of the chart, it is not possible to add many parameters (crypto or fiat).
- To use widgets, you must include a link to your source. The link is included in the above widget codes. The link should not contain the parameter rel = "nofollow".