What is Stellar (XLM)? Stellar is a native blockchain that aims to provide a platform on which participants can build and use assets that ease traditional difficulties affiliated with the global transfer of value. The blockchain’s native coin is known as the Lumen, under the ticker XLM.
How does Stellar (XLM) work?
Stellar is an open-source blockchain aiming to provide a platform on which developers can build assets for transferring value globally.
The mainstream traditional world can be clunky when it comes to transferring value, requiring intermediaries, settlement times and more. Blockchain-based assets backed by value, such as the United States dollar and other currencies, remove many of the limitations currently present in the mainstream world. Stablecoins can be built on the Stellar blockchain, although the network is also open for assets backed by other types of value, such as gold. USD Coin (USDC) has a version of its stablecoin running on Stellar. Stellar aims to improve function in the mainstream financial world, not replace current systems entirely.
The Stellar blockchain has its own consensus mechanism, named the Stellar Consensus Protocol. Those who build assets on the Stellar blockchain can also input certain parameters for tokens they build, such as necessitating that tokenholders provide personal information for the purpose of regulation. Additionally, the Stellar blockchain also has a built-in native decentralized exchange for trading tokens built on its blockchain. Who is behind Stellar Lumen? The Stellar blockchain is overseen by a nonprofit entity called the Stellar Development Foundation.
XLM to USD live price
XLM coins are used to pay fees on the Stellar blockchain. Wondering how to buy Stellar (XLM)? The Stellar coin, Lumen, can be valued in United States dollars (USD) and trades on numerous crypto exchanges. The Stellar price today, via its XLM coins, is shown live at the top of the page. The page also includes a Stellar live price chart showing current and historical price action for XLM.
