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What is Stellar all about
Stellar is unlike many traditional cryptocurrencies where the digital asset serves the primary function of the project. It is more of an entire network that aims to facilitate the transfer of currencies internationally. It does have its own native token, called Lumens (XLM) but Stellar's lofty goal is to create a single network that can be used by all of the world’s financial systems.
Stellar uses its XLM token in a powerful way that adds much more functionality compared to simple store-of-value digital coins. Much like Ethereum, Lumens are used not only for XLM transactions with their attached value, but equally for smart contract functionality on Stellar’s blockchain. Stellar's tokens add a lot of functionality to its main goal, but it is not the only payment’s network trying to achieve this.
There are many similarities that are drawn between Stellar and Ripple’s XRP, and that is not unfounded as Jed McCaleb who founded Stellar Lumens coin also founded Ripple. However, as he has reiterated, Lumens is not a fork of XRP.
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XLM Questions & Answers
What is the price of Stellar today?
Currently, the price of Stellar is at 0.32 EUR.
When did Stellar reach its peak?
Stellar was the most expensive on 2018-01-03, at 0.73 EUR.
What will Stellar be worth one month from now?
Based on our price prediction, we estimate the value of Stellar will be between €0.18 and €0.30 in 1 month.
What will Stellar cost in 90 days?
On the basis of our short term price prediction we estimate that the cost of Stellar is likely going to be between €0.17 and €0.32 in three months.
What will Stellar cost 6 months from now?
In the long run, it is very hard to predict accurately, however in accordance with our prediction algorithm we expect the cost of Stellar is likely going to be between €0.17 and €0.39 6 months from now.
How popular are topics related to Stellar on social media?
203397 users engaged via Reddit, in an online discussion about Stellar in the last 2 days. Stellar's official Twitter profile is followed by 650576 people.
What makes Lumens different to other simple cryptocurrencies?
Unlike say Bitcoin, Lumens are created to have a broader purpose than just replacing fiat currencies or investment assets. Lumens are part of a protocol that is looking to solve certain problems and pain points in the world. XLM is the underlying currency of the Stellar network, and is a necessary part of what could become a globally-adopted technology.
Can Lumens be mined?
XLM is not a mineable cryptocurrency. Instead, the tokens were all entirely released by Stellar at the time of their creation. When the Stellar Network came into operation, 100 billion Lumens were created and, in the first five years, the supply of lumens also increased by 1% per year.
Why does the price of Lumens rise?
Lumens have an inflationary model, but the price of these tokens still rises, and is expected to rise, because investors may see Lumens as a store of value. But additionally, as the project grows and is further adopted, Lumens as a necessary part of the system, become more “valuable” and the price of a Lumen may rise on the exchanges.
How much does an XLM transaction cost?
XLM fees are tied to the price of the Lumens, they rise relative to the price but because the price is inflationary and has stayed low, the price of a transaction is almost negligible.