Stellar (XLM) current price is $0.2698 with a marketcap of $5.11 B. Its price is -1.92% down in last 24 hours.
- Stellar (XLM)
- Live Price $0.2698
24h % -1.92%
- Market Cap$5.11 B
- Volume$116.20 M
- Available Supply18.93 B XLM
More Info About Coin
There are thousands of cryptocurrencies available in a highly competitive trading environment. When one of the lesser known competitors rises from among the ashes, it is time to stop and take notice.
Such is the case of Stellar (XLM). There are enough unique features to attract both users and miners, though as will be seen later, the influence of miners on the value of the cryptocurrency has been significantly diminished.
The first thing that needs to be said about the emergence of Stellar is its creator was hardly a novice to the industry. Jed McCaleb he founded and served as the CTO of the company Ripple until 2013.
McCaleb is also known for creating the bitcoin exchange Mt. Gox and the peer-to-peer eDonkey and Overnet networks as well as the eDonkey2000 application, but because of philosophical differences with management, exited and immediately started working on Stellar.
Perhaps the philosophical differences were with the future of the cryptocurrency market, as McCaleb moved from providing solutions for banks to providing solutions for people. For the record, McCaleb’s old project was very successful, so it isn’t as if he had to leave. What is apparent is that his programming talents have not diminished, and he is in line to create yet another winner.
In late 2017 is when Steller (XLM) became a stellar performer (sorry, I couldn’t pass it up). More than 30 banks have signed on with Stellar, including Deloitte who has signed on with the company to develop a payment app.
These additions caused the price of the cryptocurrency to rise almost 42,000 percent (that is not a typo) by the end of 2017. It’s no surprise that it ranked as one of the best cryptocurrency performers of the year.
Its market cap is currently about $3.6 billion.
There are several features of Stellar (XLM) worth noting that are at the foundation of its success.
1) It is open source, so there is plenty of room to build on its foundation.
2) While retaining its history of focusing on financial institutions, it is also including money remittance services and non-banking institutions in developing (third world) countries.
3) Like the best cryptocurrencies, it updates a ledger running on a decentralized system, where it is updated about every 5 seconds.
Those non-banking financial institutions are the primary focus, where Stellar’s (XLM) goal is to significantly lower the time and cost of international money transfers. It does this by using what is known as a consensus protocol instead of the more commonly used network of miners.
The algorithm is uniquely named the Federated Byzantine Agreement. The way it works is that only a part of the network is used to create a consensus. These individual parts are called quorum slices. Each quorum slice has its transactions approved and validated, significantly improving its processing speed.
A critical feature of this algorithm is that there is no loss of security in the decentralized network using this algorithm.
Another attractive feature for users of Stellar (XLM) is the use of what are called anchors. In its simplest form, an anchor is a line of credit that is connected to an asset on the blockchain. That line of credit can come in the form of USD or Euros.
The advantage is that foreign currencies can be used without paying the higher cost of the more traditional foreign exchanges. Add to the anchor the power of the decentralized system and you have a decentralized exchange. This allows you to trade virtually anything that is available on the Stellar (XLM) network.
One of the stated strategies of Stellar (XLM) is to focus on the South Pacific region of the world. The reason for this is while countries such as Australia, Fiji, and Tonga have trading relationships, commercial transactions have been difficult due to the many different currencies used.
The goal is to process a total of 60 percent of all of the cross-border payments between the countries in the region. The people it will advantage are small businesses and smaller, local banks.
The value of Stellar (XLM) is summed up by recognizing that it is a blockchain protocol cryptocurrency that is intended to quickly process international payments as cheaply as possible. The fact that companies like the aforementioned Deloitte, IBM, and Stripe have a committed interest in Stellar speaks volumes as to its potential.
Unlike many of the top cryptocurrencies, Stellar has created a unique position by not going after the big financial institutions (though clearly they are getting their attention) but on the smaller second and third world countries that are developing in their respective regions.
Those who live in first world countries often ignore the fact that most of the world is comprised of developing countries who need a viable financial system to grow. Stellar provides one potential source of creating viability, and in a short period of time demonstrated its potential and profitability.
Currently the price of a single XLM is $.26 USD but has a huge upside potential. The future of Stellar (XLM) is skyward.
Pros & Cons
|Faster and cheaper than Bitcoin||Price follows Ripple (XRP) closely, instead of following BTC like most other altcoins. Thus, whenever XRP drops, so does Stellar|
|Partnered with IBM||It is a long-term hold, not something to day-trade or hold for a month|
|A platform which is capable of launching ICOs||It is not entirely decentralised|
|Experienced and capable team|
BCrypto Investment Tip
Stellar is a digital currency that I guess you could call a better and decentralized Ripple coin. The biggest difference between XRP and XLM is that Stellar is not controlled by any banks or governemts, it's fully decentralized. Stellar allows for transfer across borders quickly for a fraction of a penny, they allow micropayments and they offer a great mobile payment platform. If you look at every single price prediction for XLM you'll will see that everyone expects this coin to be worth anywhere from $1-$5 in the near future and I do believe $1 is very possible once the next cryto bull run starts and much more within the next few years.