Stellar (XLM) Live Price

Stellar (XLM), also known as Stellar Lumens, is the cryptocurrency that is used on the Stellar payment network. This network and its associated digital currency were launched in 2014 as an alternative payment system intended to facilitate cross-border transactions and currency conversions, with both fiat currencies and cryptocurrencies. It is widely seen as a direct competitor to the more widely used Ripple network and its associated crypto coin XRP. The value of Stellar increased alongside most major cryptocurrencies in 2018, and the coin has remained elevated in value even after the ensuing price drop. It is currently a top 10 crypto coin by market cap.

Stellar as a transaction system has been adopted by a number of alternative organizations looking to operate outside the traditional banking system, such as charities and advocacy groups. It is also popular as a payment system in developing nations with inadequate banking and financial sectors. Its developers have a focus on the decentralization and democratization of payment systems, and some of the original value of the coins has been transferred to supported groups.

Stellar operates on a proof of stake (PoS) system, which means that it is not supported by traditional crypto mining. Transactions are confirmed through a consensus process among participating nodes that store a ledger of all network accounts.