Cryptocurrency Stellar Lumens (XLM) is different from others and has several distinct advantages. In this case, it is possible not only to buy, but also to mine. To begin with, it is necessary to get acquainted with what this crypto is. How to mine XLM and should we expect its growth in 2022?
What Stellar is all about
Stellar Lumens is a special type of cryptocurrency designed for the purpose of online transactions. It is integrated into the eponymous network and works on a similar principle to Bitcoin and other related projects.
Stellar was created in 2014 in order to blend all cryptocurrency together. With the aid of this project it is possible to support any budding crypto in order to make the most profitable exchange transactions on the network.
Features of the Stellar Lumens:
- Functioning in real time via special gross calculations.
- A specific development of currency technology that allows transfers between people, organizations and countries.
- Decentralization and the distinctive feature – versatility.
Before mining XLM, it is important to become acquainted with the advantages of this project. Among the main advantages, the creation of an unlimited number of payments, and a loyal commission for transfers can be distinguished.The online platform has compatibility with other services that are operating in the financial market. Within the system it is possible to work with several types of cryptocurrency, which is rather convenient for users.
It must be noted that transactions are performed in real time. In order to ensure a sufficient level of security, a special cryptographic cipher has been created.
How to mine Stellar cryptocurrency
Mining of the Stellar Lumens XLM is currently quite in demand. Note that this is not a standard process that requires special equipment or hardware. The system doesn’t stipulate obtaining digital coins in this way.
Approximately 100 billion coins (now 50 billion) were put into circulation when the platform was launched. Only 1% of the amount already in circulation is added to this amount of crypto every year. It should be noted that not all of the issued tokens are in circulation, but only a half.
Since its release, crypto has barely increased in value for 3 years. Only at the end of 2017 there was a sharp rise in the value of Stellar. But the upper limit lowered quickly because of the hacker attack, which caused the price to return to its initial value. In 2021 there was an explosive growth again, which later also was replaced by a deep correction. XLM is now at $0.19 (according to coinmarketcap)
Recently, many network users began to wonder how to mine XLM. This is resulting from the fact that this crypto has good prospects and many analysts predict a bright future for this coin.
Passive pool for mining
Mining of XLM is not provided. Despite this, every user of the network can get a certain amount of Lumens for free. The distribution is made by Bitcoin owners in the amount of 1% of the balance.
The following guidelines can be used to get passive payments:
- At a planned yearly inflation rate of 1% of XLM token emission, voting is started.
- Lumen owners can provide their address to receive the generated coins and can canvass everyone they know so they can get as many votes as possible.
- Those addresses that get more than 0.05% of the votes will receive a certain share of tokens.
- Voting is held every week, so everyone has a chance.
The organizers of the Stellar mining pool have come up with a scheme for those who vote in favor of their project. Received coins are distributed automatically among the users who took part in the vote.
Mining Stellar currency
Before you start mining, consider the disadvantages of Stellar cryptocurrency. Among the disadvantages is the need to pay fees that users are charged when making transactions within the platform. Fees are negligible compared to those charged to customers of financial institutions, so users have nothing against them.
XLMPool is a counterpart of the classic pools used for pooled mining. In this case, there is no need for computing power, which is an unquestionable advantage. It is enough to enter the address of the pool in your personal wallet once, and the coins generated by the network will come to your account every week.
Since this system is the only one, its income is 1% per year. This is quite a lot for getting a passive profit.
XLM is a rather unique cryptocurrency with great potential. The platform will expand in the future. In this case, the platform itself, on which the crypto is developed, deserves more attention.
Use passive mining to get a small, but stable flow of tokens. Stock up on coins in order to exchange them in the near future in order to increase your own capital.