Stellar Lumens (XLM) the Protocol for Value Exchange
Stellar connects banks, payments systems with the aim of moving money quickly, reliably, and at almost no cost.
Through Stellar users can send fund across the world without any significant fees or delays (2-5 seconds). Usage wise the project is being aimed at both individual users as well as businesses.
Stellar can be considered a decentralised Ripple – they are similar but Stellar is not controlled like Ripple is.
Team is based in USA with the offices in San Francisco and New York.
Tokens and usage
Features of the platform include:
Remittances – Send money across borders quickly, for a fraction of a cent.
Micropayments – increase efficiency and decrease the cost of smaller transfers.
Mobile Branches – allowing the usage of mobile branches to expand retail operation
Mobile Money – customers can send money to recipients with different providers
Services for underbanked – low-cost accounts, loans, and microsavings for people struggling to get normal bank accounts
XLM is a native asset that built into the network and is needed for small transaction fees, to create accounts and as bridge between currencies.
Recently Stellar has received a certificate of Sharia compliance, one which will allow the coin to be used by Muslim population
Stellar has been mentioned as one of the assets considered for Coinbase listing – very significant development.
IBM confirmed the increased adoption of Stellar by confirming that a couple of the largest banks” are adopting Stellar.
To help with the adoption IBM is exploring cryptocurrency pegged to the U.S. dollar. Crypto dollar running on the Stellar blockchain network. The stablecoin is called Stronghold USD.
Stellar Decentralised Exchange is live and running
The roadmap highlights major developments for 2018:
The decentralised exchange has ongoing developments to finish the feature list.
There is further support for ecosystem planned In 2018: better overall brand communication, more help guides, better technical documentation, including release notes and continued improvement to our Horizon API and the surrounding SDKs
Another major development would be lightning network which will have a huge positive effect on Stellar’s long-term scalability and security.
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