Stellar Lumens (XLM/USD)
Stellar Lumens is a new decentralized crypto currency developed by Bartek Nowotarskia. He is a computer science graduate from Jagiellonian University in Krakow Poland and former security consultant. Stellar Lumens aim is to connect people to a low cost financial service that will help fight poverty while developing individual potential.
Stellar Lummens Summary
Stellar Lumens is a crypto currency that connects banks and payment systems. Stellar Lumens allows the user to send payments around the world quickly and cheaply. Using their network of servers, that contain stellar lumens data, websites and applications globally. These networks are decentralized, that powers a distributed ledger. This ledger then records every single payment transaction in the system. For its users there is a copy of the global ledger on each server. The network becomes stronger when more organizations run servers within the network. The servers communicate with each other to verify the transactions and synchronize the ledger every 2-5 seconds, this is called consensus. The ledger records money as a credit and then bridges this credit between a currency and the stellar network. The credit is then issued to your online account and in to your virtual wallet and with stellar lumen each transaction made will be automatically converted to the lowest rate for you.
Pros To Stellar Lumens:
- Fast transactions
- Helping to reduce poverty
- Converts to the lowest exchange rate
- Can be used globally
Cons to Stellar Lumens:
- Risk of decrease in value
- Not one of the better known cryptos
Stellar Lumens Future
I think Stellar Lumens will eventually be one of the major players I like that it is trying to do some good and create a low cost banking service that is aimed to reduce poverty. Anything to help reduce poverty is always good and Stellar Lumens already has a $218,427,561 market cap and a total supply of 103,294,401,041 XLM. So as soon as more people get on board and use it the stronger the server will become and the bigger it will get. I think it has great potential and will soon be one of the leading crypto currencies on the market.
So should you sit on your Stellar Lumens
I would say that I think it is well worth investing in it seems to be growing fast, and this will only get stronger the more people get involved. Already it has some of the better known cryptos worried due to the rate that stellar Lumens is growing. So I think it won’t be long before Stellar Lumens is at the top of the list. It is defiantly worth investing in early. Also you will be doing your bit against world poverty, so not only are you making an investment but also helping others. For more information on Stellar Lumens check out their website here www.stellar.org