Stellar Review 2019: XLM Really Worth It?

► Complete Review: https://www.coinbureau.com/review/stellar-xlm/
► XLM Wallets: https://www.coinbureau.com/analysis/stellar-xlm-wallets/

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⛓️ 🔗 Helpful Links 🔗 ⛓️

► Website: https://www.stellar.org/
► Whitepaper: https://www.stellar.org/papers/stellar-consensus-protocol.pdf
► GitHub: https://github.com/stellar

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📱️ Socials 📱

► Official Blog: https://www.stellar.org/blog
► Twitter: https://twitter.com/stellarorg
► Community Blog: https://medium.com/stellar-community

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📝 Project Overview 📝

Stellar is a “decentralized consensus platform”. Stellar started in 2014 when one of the Ripple co-founders chose to leave the project and begin his own.

Stellar is the name of the network whereas Lumens (XLM) are the name of the token. While many people may think that Stellar is a clone of Ripple, it is not.

⚙️ Technology ⚙️

Stellar aims to connect institutions, payment systems, and individuals on its platform. Stellar functions in much the same way that PayPal does.

Instead of uploading funds from their bank account, users upload their monies to an anchor located on the Stellar network.

The Anchor performs two basic functions: accept the deposit and moving the funds to the account the user indicates. This gives the recipient the ability to withdraw their funds in just a matter of minutes.

Funds uploaded to the anchor are turned into Lumens, then stored on the Stellar ledger.

The Stellar Consensus Protocol is based on Ripple’s Practical Byzantine Fault Tolerance (that’s PBFT) mechanism. SCP as an entirely open network. This means anyone has the ability to be a validator and manage a node.

Within Stellar’s SCP network, nodes have the freedom to select any other nodes they trust. When a subgroup of these nodes trust each other, they create a quorum slice. These are then connected via mutual nodes until they create a quorum, which results in network consensus.

💰️ Token 💰

tellar never held an ICO, but 100 billion XLM was created. However, only 5 billion Lumens were released initially.

Lumens are helpful in reducing the cost of payments across borders. It is faster and cheaper than financial institutions.

You can also use Stellar to connect several mobile financial platforms at once. You can also use it to launch an ICO – something that a number of projects have already done.

👨‍💻️ Team, Partners & Development 👨‍💻

Stellar was co-founded in 2014 by Joyce Kim and Jed McCaleb. These two, along with Patrick Collison, are the key members of the Stellar team.

Advising on the Stellar project are Stripe CEO Patrick Collison, Angelist founder Naval Ravikant, and President of Y Combinator Sam Altman.

Stellar plans on increasing the performance of its Stellar Core software. With this upgrade, the core can perform 100 operations every second on a network of 100 million accounts.

The Stellar platform will offer a suite of open-source utilities which will make the environment easier to use and much more powerful. You can see more of this development work if you head on over to their GitHub repository.

There are also a number of developments on the business side including the likes of IBM and Deloitte. There is also a big partnership with Stripe which is one if the biggest backers of the Stellar project.

📈 Trading & Wallets 📈

XLM is listed on a number of exchanges including on Binance, Coinbase, Kraken, Bittrex, and many other popular trading platforms.

The volume for Stellar is spread out pretty evenly across these exchanges, which means its liquidity doesn’t rely on just one platform.

There are also healthy order books on the exchanges that they are listed on.

There are a number of wallets that support XLM but the best bet is to go with a secure hardware wallet like a Ledger or a Trezor.

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📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

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Post Author: CoinCryptoNews