Stellar Price Chart Update [XLM]

The XLM price update as of now is $0.1078. In the previous 24 hours, its trading volume was $58,792,519, and its value has decreased by -2.37%. As of now, XLM's live market cap is $2,177,910,548, and it is ranked as the #49 on the Coincu. XLM has a circulating supply of 49,999,999,739 and a maximum supply of 49,999,999,739.

Stellar: A Revolutionary Cryptocurrency Platform

While bitcoin has dominated the cryptocurrency headlines in recent years, there are other platforms that have gained significant traction and impressive gains. One such platform is Stellar, which experienced a staggering 34,900% growth in the value of its cryptocurrency, Lumen, in 2017. Although the value of Stellar's cryptocurrency dropped by 77% in 2018, it remained relatively stable throughout 2019 and 2020. However, in 2021, Stellar saw a significant improvement with a 226% increase from January to March. As of April 20, 2022, Stellar's market cap stands at $5.028 billion. Traders seeking to diversify their holdings away from bitcoin may find Stellar to be an interesting opportunity. Here is a brief overview of this unique coin and its business prospects.

What is Stellar (XLM)?

Stellar is an open-source network that facilitates currencies and payments. It provides a platform for creating, sending, and trading digital representations of various forms of money, including dollars, pesos, and even bitcoin. The goal of Stellar is to enable all financial systems worldwide to collaborate on a single network. Unlike other cryptocurrencies, Stellar is not owned by any individual or entity. It operates on a decentralized, open network and processes millions of transactions daily. While it relies on blockchain technology, Stellar offers a user experience similar to cash, with faster transaction speeds, lower costs, and greater energy efficiency.

Key Features of Stellar

Asset Issuance on the Stellar Network

Stellar allows users to create redeemable and tradable representations of any asset, known as tokens. While tokens are commonly tied to currencies, such as dollars or euros, Stellar's platform enables the issuance of tokens for various assets, including commodities like corn or gold. This feature makes Stellar a versatile toolkit for digitizing and managing value, similar to what Tether did for the Dollar with their USDT or what Coinbase is doing with their USDC stablecoin.

Peer-to-Peer Token Trading on Stellar

Every token on the Stellar network is exchangeable with any other token, and the protocol itself facilitates the connection between buyers and sellers. Users can submit their bids or asks to the public network, and compatible trades are automatically resolved every few seconds. This unique feature sets Stellar apart from other blockchains, as it not only tracks balances but also settles trades in a decentralized and ownerless manner.

Currency Transformation on Stellar

Stellar allows users to send currency to others, similar to any other payment system. However, it also enables users to send one currency and have the recipient receive a different currency in a single atomic transaction. This feature, known as path payment, is particularly beneficial for international payments. For example, an American company can pay an invoice in Mexico using dollar tokens, while the vendor receives peso tokens. This eliminates exchange risks and delays, ensuring that both parties receive the desired currency.

The Unique Selling Point of Stellar

Stellar's unique selling point lies in its ability to create, send, and trade digital representations of various forms of money on a global scale. It offers a borderless, limitless, and powerful platform that enables all financial systems to collaborate seamlessly. Stellar's API and SDKs provide the tools necessary to transform the world of finance, allowing even small companies to have the power and reach of international banks. Additionally, Stellar's network of currency connections and built-in decentralized exchange make it ideal for global payment apps, asset exchanges, and micropayment services.

Stellar's Roadmap for the Future

Stellar's vision for 2022 builds upon the lessons learned in 2021. The roadmap focuses on three strategic building blocks:

• Increasing network scalability and innovation by expanding network capacity and enabling trust-minimized innovation.
• Activating more network participation through ecosystem input, engagement, and partnerships to drive commitment and ownership within the Stellar ecosystem.
• Promoting diversity and inclusion by conducting research, understanding the impact of the ecosystem, and working towards creating a more equitable financial system.

To learn more about Stellar and its future developments, click here.