That is possible through Lumens (XLM), yes Lumens is the currency required to pay a transaction fee on Stellar Network.Įvery account holder must have to maintain a minimum balance of XLM to create trust among both parties. Stellar is the real technology which allows payment transaction to process from one sender to the next receiver.īut Every network required a guarantee of security and prevention from any Spam DDoS attack, which requires a trust network between both parties. Stellar is a network on which all transaction takes place and Lumens is the token or currency required to make every transaction safe and secure on Stellar Network. Stellar Lumens is a non Profit organization, which does not hold any profit with them, it is purely build to help financial institutions to fasten payment transactions.īut Ripple is controlled by the Ripple Lab which looks bit centralized. How? Will get Idea as you read later in this guide.Īs an Idea behind Ripple and Stellar Lumens is the same to solve cross-border payment transactions systems. The brain behind Stellar Lumens is Jed McCaleb and he was the same man behind Ripple and that is what people arguing him to copy the same codes of Ripple.īut Reality and actually used protocol for Both Ripple and Stellar are different and Jed McCaleb completely denied the copying of any codes from Ripple (XRP). Stellar Lumens got breakthrough in the year 2014 when Strip an Irish based payment processing company offered 3 million dollars to start the project. It is having the same mechanism as Ripple but it has the vision to focus not only financial institutions but to end users as well. The main objective behind Stellar Lumens is to decentralized cross border and retail payments using blockchain technology. Stellar Lumens is a Blockchain based decentralized cryptocurrency created in the year 2014. Conclusion on Stellar Lumens What is Stellar Lumens?.
Why People Will Buy Stellar Lumens (XLM)?.
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