SMART VALOR Lists Stellar Lumens XLM
SMART VALOR is pleased to announce that, starting today, we will support trading (buy & sell) of Stellar Lumens (XLM) , one of today’s most exciting cryptocurrencies.
What is XLM?
XLM is the native currency of the Stellar network. With a market cap of $1.45 billion , XLM is the 10th-largest cryptocurrency , recently seeing daily trading volumes worth almost $200 million .
Why XLM?
In contrast with coins like Bitcoin, which generally behaves as a store of value, Stellar Lumens sees the greatest use in facilitating super-fast payments between parties with some of the lowest fees around — currently around one-millionth of a dollar .
The Story of Stellar
In designing Stellar, its creators were also concerned with the environmental impact of Bitcoin mining, which uses massive amounts of electricity to solve cryptographic puzzles. Instead, the Stellar Network uses the “Stellar Consensus Protocol (SCP) ” to achieve consensus.
SCP has four key properties:- decentralized control
- low latency
- flexible trust
- and asymptotic security
Jed McCaleb , who co-founded Ripple, started the Stellar Network in 2014. As you might expect, the network shares many of Ripple’s concerns with transactional efficiency. Both Stellar’s XLM and Ripple’s XRP operate on networks designed for international payments . The coins function as intermediary currencies, providing a readily available basis of trading between currencies that more traditional financial institutions don’t offer, or offer with massive fees and delays. Stellar features fast confirmations, regardless of user location. Stellar’s transactions come in at some 3-5 seconds . For comparison, Bitcoin’s currently take around 10 minutes .
Ripple vs Stellar
While Ripple presents a largely centralized system to service traditional financial institutions, Stellar is unique in that it also focuses on providing payment options and rapid currency exchange between small businesses, retailers, and private customers who may be separated by thousands of miles and may require conversion between multiple fiat currencies to get the cheapest rate.
What We Like about Stellar Lumens?
Stellar has attracted such heavy hitters as IBM, which uses Stellar’s blockchain as the backbone of its WorldWire payment network streamlining currency swaps between international banks. Stellar’s network is also very flexible. It allows the tokenization of assets that extend well beyond fiat and cryptocurrencies , as well as their trading through Stellar’s built-in decentralized exchange. This is one of the major features we at SMART VALOR like about Stellar. We are currently investigating multiple partnership options with Stellar in regard to security tokens.
SMART VALOR is happy to introduce support for trading of XLM, providing our clients and users with access to this unique and exciting project.