Stellar XLM

XLM, or Stellar Lumens, is a cryptocurrency that operates on the Stellar blockchain network. Stellar Lumens were launched in 2014 by Jed McCaleb, the co-founder of Ripple, with the goal of making cross-border payments faster and more affordable.

History of Stellar Lumens:

Stellar Lumens were originally created as a fork of the Ripple protocol but were later re-designed from scratch to become a standalone platform. The Stellar Development Foundation, a non-profit organization, was established to oversee the development and promotion of the Stellar network.

Stellar Lumens Features:

The Stellar network is designed to facilitate the exchange of digital assets and cross-border payments. It has a built-in decentralized exchange that allows users to trade various assets, including fiat currencies, cryptocurrencies, and commodities. Transactions on the Stellar network settle in just a few seconds, making it a fast and efficient payment system.

One of the key features of Stellar Lumens is their ability to issue and trade digital representations of fiat currencies, known as "anchors." Anchors are institutions that issue digital assets backed by a corresponding fiat currency. Users can trade these digital assets on the Stellar network and redeem them for the underlying fiat currency at any time.

Stellar Lumens Market:

As of March 2021, the market capitalization of Stellar Lumens is around $10 billion, making it one of the top 25 cryptocurrencies by market cap. The price of XLM has shown significant growth over the past year, increasing from around $0.06 in March 2020 to over $0.40 in March 2021.

Stellar Lumens Mining:

Stellar Lumens are not mined in the traditional sense, as the Stellar network uses a unique consensus mechanism known as the Stellar Consensus Protocol (SCP). SCP is designed to be energy-efficient and uses a federated Byzantine agreement (FBA) algorithm to reach consensus. Validators on the Stellar network are selected through a decentralized voting process.

Stellar Lumens Energy Consumption:

Stellar's energy consumption is relatively low compared to other blockchain networks. SCP is designed to be energy-efficient, and the network does not rely on traditional mining, resulting in a lower overall energy footprint.