Last updated 13/07/2021
Official Website: https://www.stellar.org/
Stellar is an open source network which allows money to be moved and stored. At its genesis in July 2014, one of its first objectives was to boost financial inclusion by reaching the world’s unbanked. However, its priorities subsequently moved to assisting financial firms by helping them to connect with each other through blockchain technology.
The token that is native to the Stellar network is Lumens. Lumens works as a bridge which makes it less expensive to trade assets across borders. The aim of these features is to confront existing payment providers as they are known to charge high fees for a similar service.
Stellar is also unique in the fact that not many blockchain projects have been able to obtain partnerships with big-brand technology companies and fintech firms. Previously, Stellar and IBM had teamed up to launch World Wire, which was a project that granted larger financial institutions the ability to submit transactions to the Stellar network and transact using bridge assets such as stablecoins.
Jed McCaleb initially created Stellar with the lawyer Joyce Kim after he had left Ripple in 2013 after they had disagreements about the company’s future path and prospects. His original goal, that he envisioned when he founded Stellar, was to make certain that Stellar could give people a way of moving their fiat into crypto — and remove the friction that people typically encounter when they are sending money around the world.
McCaleb is the CTO of Stellar, as well as the co-founder of the Stellar Development Foundation. The foundation is a not-for-profit organization which aims to unravel the global economic potential. They intend to do this by making money more fluid, markets more open, and people more empowered.
The Stellar Development Foundation has employed technologists, scientists, designers, and businesspeople, all of whom are committed to constructing a more inclusive worldwide marketplace.
The Stellar Development Foundation’s aim and vision for 2020 is to accelerate towards ending the year with an ecosystem that is completely supported for global payments. The roadmap below outlines what they need to achieve for this vision and is supported by three strategic pillars.
Support Robustness and Usability of Stellar by making it safe and easy to build on Stellar.
In order to ensure Stellar is usable, scalable, secure, and sufficiently robust enough to sustain all existing and future use cases, and to expand decentralization and network trust, SDF will emphasise attracting and maintaining brand new stakeholders and high-quality validators.
Be the Blockchain People Know and Trust by establishing SDF on the global stage.
To be able to support and market the Stellar network and the ecosystem to all audiences, there will need to be a co-operative effort from all partners and associates. This means the developers, businesses, regulators, policymakers, and consumers and SDF will be increasing brand awareness and visibility, which will establish Stellar as the blockchain people know and trust.
Foster and develop sustainable Stellar use-cases enabling cross-border payments and securitized assets.
For them to produce products and services that will be built on Stellar and contribute to long-term growth and sustainability of the network, SDF will be fostering use cases that have clear value for end users and be able to show a path to a viable business model.
There are many wallets to choose from to store Stellar (XLM). There are Software wallets such as Exodus, Atomic Wallet and Trust Wallet that support a wide range of Cryptoassets including XLM. Also Hardware wallets such as Ledger or Trezor to securely store your assets.
We recommend using Exodus to store XLM as Exodus has a very user-friendly interface and supports most cryptocurrencies. Your XLM wallet address can be prominently displayed within Exodus ensuring ease of use when sending and receiving this coin. The platform also presents a real time portfolio valuation and tracks the value of digital assets held.
We always recommend our customers to perform their due diligence and research into any platform they are looking to start using. You may find some general information regarding various wallets on our Wallet Guides page.
You can Buy & Sell Stellar (XLM) here at BC Bitcoin. You can Buy XLM by heading over to the Buy Coins page of our website. XLM is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying XLM has never been easier, simply place your order and provide your wallet address. Once your payment arrives, XLM will be sent directly to your wallet.
Disclaimer: The information provided in this article is intended for informational purposes only. It is the reader's responsibility to complete their own research and due diligence.