With a market capitalisation of over $4 billion, Stellar is one of the most promising blockchain projects in the world. It has an impressive potential to become a major payment network soon.
This article will explain to you what Stellar is and why it’s better than any other cryptocurrency out there. We will then conclude with our thoughts on if Stellar has a future or not.
History Of Stellar
Stellar is a cryptocurrency that was established in 2014. The currency was built by the non-profit organization Stellar Development Foundation. It is owned by Jed McCaleb, Ripple’s co-founder.
Stellar Development Foundation created the protocol to solve the problem of inadequate access to financial services for people living in poverty. With Stellar, users can quickly transfer any form of currency to someone else, almost free of charge. Even you can easily swap stellar to coti exchanger, by using a reliable cryptocurrency exchange platform.
What is Stellar?
Stellar is an open-source protocol for sending and receiving money in any pair of currencies, with its design based on the Ripple Protocol. It’s an example of a distributed ledger technology. The best way to think of it is as a kind of database, or database management system, that keeps track of transactions between people.
How does Stellar Lumens stand out from other Cryptocurrencies?
Its focus is on facilitating the transfer of money in any form between different kinds of value stores. There are many cryptocurrencies out there, but Stellar Lumens (XLM) stands out because it’s also used in the financial industry. IBM partnered with Stellar in October 2016 to develop a cross-border payment solution for large multinational corporations that want to send payments in seconds rather than days.
Here are some of the reasons why it is better than other cryptocurrencies? And why should you use it?
Stellar’s transaction fees are so low that they are next to nothing. The fee for a typical Stellar transaction is 0.00001 XLM which is worth about one cent at current prices. On the other hand, Bitcoin transactions cost around $27, and Ethereum transactions cost about $1.50 each.
Its innovations enable quick and low-cost transactions with no fees for the majority of users. This means that people can send or receive money from any country in 3 seconds with no cost at all!
It provides a decentralised exchange for exchanging fiat currencies against cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. It enables anybody to buy and sell different currencies without using a third-party service or dealing with currency conversion rates.
Hope that this article has given you a better understanding of Stellar and its potential. The cryptocurrency industry is growing at an exponential rate, and Stellar has the potential to be one of the most important cryptocurrencies of the future. It’s cheaper, faster, and easier to use compared to traditional systems like Bitcoin or Ethereum—and it’s backed by a reputable team.
Now that you have some fundamental knowledge, you can easily convert your currency into Stellar by visiting Alligat0r.com. Alligat0r is an incredible cryptocurrency exchange platform.