Stellar XLM Notes

I have been a lurker for a long time here but I would like to contribute more to the community and in order to do so I will share a little of my research on different coins. Stating with XLM, one of my favorites cryptocurrencies, I apologize for my english as it is not my first language. Most of this information is from their official website. I personally support this project because I know the burdens and fees of having to send money outside of the US and I appreciate what Stellar Development Foundation is working on.XLM - Current Price $0.03209Websitehttps://www.stellar.orgCourse and more infohttps://https://ift.tt/39EO6Xx direct from networkhttps://lobstr.co/Rank on CoinMarketCap11Rank on Coinbase4Market Cap50 Billions LumensOpen Market20 Billions LumensPrice Change %Up 140% 1M, 403.59% 1Y, 10,739% AlltimeCreated in 2014 after bitcoin but before Ethereum, launched in 2015 by the Stellar Development Foundation, a non-profit company based in the U.S. It is designed so all the world’s financial systems can work together on a single network. Intended to enhance rather than undermine or replace the existing financial system.Stellar enables a future where everyday people can send money anywhere affordably and quickly. Like any payments system, Stellar allows one user to send currency to another. User A can send User B dollar tokens or lumens or whatever. But Stellar also allows a user to send one currency and have the recipient receive another. Essentially, you can send and exchange money in a single atomic transaction.Each year, over $500 billion of value is transferred cross-border through personal remittances. In most cases, remittances are transfers of money from foreign workers to family members in their home country, sent on a monthly basis. The typical transaction is $200 to $300 and the average retail cost of these transfers runs 7-8%, usually collected in cash. Sending costs can be as high as 15% when transferring money to people in developing economies.Unlike the tokens of other blockchains, lumens aren’t mined or awarded by the protocol over time. Instead, 100 billion lumens were created when the Stellar network went live, and for the first 5 or so years of Stellar’s existence, the supply of lumens also increased by 1% annually, by design. That inflation mechanism was ended by community vote in October 2019. And in November 2019, the overall lumen supply was reduced. Now there are about 50 billion lumens, total, in existence, and no more lumens will be created. Nearly 20 billion lumens are out in the open market, and the Stellar Development Foundation retains the other 30 billion or so to develop and promote Stellar, per its mandate. Those lumens will enter the public markets over the next few years.Please feel free to share your thoughts on XLM and if you think XLM is a good crypto to hold.

Submitted February 02, 2021 at 01:46PM