Stellar Lumens Explained In 2 Minutes

Stellar Lumens Explained. Stellar is a distributed hybrid blockchain platform that aims to help facilitate cross-asset transfer of value at a fraction of a penny. Stellar is aiming to be an open financial system that gives people of all income levels access to low-cost financial services. These services include, but are not limited to:

Remittances
Micropayments
Mobile Branches
Mobile Money
In addition to these services, one very powerful feature of the network is their Distributed Exchange.

Through use of its intermediary currency Lumens (XLM), a user can send any currency that they own to anyone else in a different currency.
For example, if Alice wanted to send Euros to Bob using her dollars, an offer is submitted to the distributed exchange selling USD for EUR. This submitted offer forms what is known as an order book. The network will use the order book to find the best exchange rate for the transaction in-order to minimize the fee paid by a user.

With partners such as: IBM, Deloitte and Stripe, there is clear demand for the services currently offered by Stellar and its network.

With its growing list of partnerships, as well as its quickly developing eco-system, there is no doubt that Stellar has the potential to be a very reputable player in the space. The services it offers are straightforward and offer practical real-world applications. This, in combination with and the sense of professionalism that currently surrounds Stellar, leaves it as a cryptocurrency to watch.

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Stellar Lumens Explained In 2 Minutes

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