What Is Stellar Lumens (XLM)

Our discussion is now developing about stellar lumens. For those of you who are foreign and have never heard of it, about it. As much as possible the delivery will be very, very easy. As we all know that the world financial system still costs very high and takes a long time to cross geographical or political boundaries. What result? Many people cannot do business because of those restrictions. So what people are looking for now is a global financial scheme that removes geographical barriers, is low-cost, but still accurate in its recording. He said, Stellar Lumens was able to answer this problem.

What is stellar lumens?

1. The concept of definition of stellar lumens As with bitcoin, stellar lumens is a digital currency in the stellar network. As we once discussed, each network has its own krypton products. Well actually the coin is called lumens (XLM). Actually, what is the history of Stellar Lumens? The story of ancient times in 2014, the stellar network launched 100 billion stellar coins according to its network name. Then in 2015, with the upgrade network, the name of the asset was changed from stellar to lumens to distinguish it from stellar and stellar organizations.

2. Stellar Network This network or network is open source, and the user must use lumens as a payment tool. The transaction fee is 100 stroops multiplied by the number of operations. It should be noted by friends that 100 stroops are as big as 0.00001 XLM. You could say it’s pretty cheap, as of April 2018, 1 dollar could be used for 400 thousand transactions. What’s interesting is that IBM’s company is working with Stellar Lumens, with an idea to develop low-cost and reliable global financial transactions. There is also information that IBM has used the Stellar blockchain and persuaded several international banks to start using the Stellar network.

Oh yeah, I want to discuss a little about basic knowledge of Dell. Stellar is a decentralized system, so there is no single centralized source that controls the network. Even though one of the servers in the network falls apart, the network will not be interrupted. Likewise with the ledger, every server that uses the stellar software records the entire transaction of the account. The server is synchronized and validates the ledger, which people call consensus. Okay while the discussion is enough to get here first, wait for the next article, continued …

 

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