Stellar (XLM) is a peer-to-peer (P2P) decentralized network created in 2014 by the Stellar Development Foundation or Stellar.org. The network was officially launched in 2015 with the aim of connecting the world’s financial systems and ensuring protocols for payment providers and financial institutions.
Reporting from Coinmarketcap, the platform is designed to transfer funds quickly and reliably with minimal fees. Stellar connects people, banks, and payment processors, and allows users to create, send and trade different types of cryptocurrencies.
The foundation of the network is its native digital currency, the XLM coin. XLM acts as an intermediary currency for operations and is also used to pay transaction fees.
The Stellar payment protocol is based on distributed ledger technology, open source development, and community owned and distributed.
Stellar’s crypto-assets help with cross-border transactions, overcoming the problem of high fees and slow procedures. XLM is more focused on helping individuals transfer money than institutions.
Thus, Stellar provides access to the financial system, and people can send money at a low cost and instantly all over the world.
Who founded Stiller?
Jed McCaleb founded Stellar with attorney Joyce Kim after leaving Ripple in 2013 due to disagreements over the company’s future direction.
Explaining the rationale behind Stellar in September 2020, McCaleb said that the entire original design of Stellar could have fiat currency and other types of value running in parallel with each other and with crypto assets.
Disclaimer: Every investment decision is in the hands of the reader. Study and analysis before buying and selling cryptocurrencies. Konsep is not responsible for profits and losses resulting from investment decisions.
McCaleb’s goal is to ensure that Stellar can give people a way to convert their cash into cryptocurrency and remove the friction that people usually encounter when sending money around the world.
He is currently the Chief Technology Officer of Stellar, as well as a co-founder of the Stellar Development Foundation. This nonprofit aims to unleash the potential of the global economy by making money smoother, markets more open, and people more empowered.
What makes stars unique?
Cost is a difficult thing for many people. However, the high fees when making cross-border payments is not only exclusive to securities-based payment solutions such as PayPal transaction fees and they are also known to go through the ceiling of the Bitcoin and Ethereum blockchains due to bottlenecks.
Previously, the mixed price of Bitcoin and other cryptocurrencies was observed on Friday, October 14, 2022. However, the majority of cryptocurrency prices tend to weaken.
Based on Coinmarketcap data, on the morning of Friday, October 14, 2022, the cryptocurrency with the largest market capitalization, Bitcoin (BTC) continues to strengthen. Within 24 hours, the price of Bitcoin rose by 1.19 percent. However, over the past week, the price of Bitcoin has fallen by 2.75 percent. Currently, the bitcoin price is $1,9397.16 or around Rs 298.29 million (assuming an exchange rate of Rs 15,378 per US dollar).
The price of Ethereum (ETH) has not been able to maintain its strength in the last 24 hours. Ethereum prices fell by 0.45 percent. In the past week, the price of Ethereum fell by 4.49 percent. Now, the price of Ethereum is at a position of $1,289.88 or around Rs 19.82 million.
However, the next cryptocurrency (BNB) has strengthened in the last 24 hours. BNB prices rose 0.35 percent. However, the price of BNB has fallen by 4.24 percent over the past week. Currently, the price of BNB is $272.04 or around 4.18 million rupees.
Then the price of XRP decreased by 0.76 percent in the last 24 hours. During the week, the price of XRP fell by 1.65 percent. Now, the price of XRP is at $0.4837.
Cardano (ADA) price is down 0.66 percent in the last 24 hours. Even over the past week, the price of Cardano is down 11.74 percent. Currently, Cardano is at the $0.3783 position.
Moreover, Solana (SOL) price is down 1.9 percent in the last 24 hours. Last week, Solana’s price fell by 8.36 percent.
Similarly, the price of Dogecoin (DOGE) located in the red. Dogecoin price is down 0.46 percent in the last 24 hours. Over the past week, the price of Dogecoin is down 6.17%.
Stable currencies like Tether (USDT) have been in the green in the last 24 hours. Last week, cable prices fell 0.01 percent.
The US dollar (USDC) currency rate has decreased by a limited 0.01 percent in the last 24 hours. During the week, the USDC price was down 0.01 percent.
Meanwhile, the price of Binance USD (BUSD) has been in the red for the past 24 hours. Over the past week, the price of BUSD increased by 0.02 percent to a position of $1.
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