{"id":19,"date":"2021-05-06T17:51:13","date_gmt":"2021-05-06T17:51:13","guid":{"rendered":"https:\/\/stellar-wallet.org\/arts\/?p=19"},"modified":"2022-01-27T11:47:12","modified_gmt":"2022-01-27T11:47:12","slug":"stellar-platform-overview","status":"publish","type":"post","link":"https:\/\/stellar-wallet.org\/arts\/stellar-platform-overview.html","title":{"rendered":"Stellar platform overview: buying and selling coins, the actual use"},"content":{"rendered":"

Stellar was distributed as a completely decentralized trading platform. Its integral unit or so-called, token was termed Stellar Lumens<\/a> or shortly XLM. The whole system is intended to support currencies of any type. It also has an integrated decentralized exchange. Any types of currency and capital assets are trading through this stock.<\/p>\n

Now let\u2019s consider Stellar more detailed. Independent peer nodes are gathered into a huge network. All the network accounts are merged into the ledge. Each nod keeps the database copy of the network account balance. For all the data to be actually all the nodes synchronize with each other every 2 or 4 seconds. The synchronization mechanism was called a consensus. The success formula of the XLM system consists in its operation of its blockchain. The platform introduces the lowest fees for the fastest cryptocurrencies transactions.<\/p>\n

In 2014 a founding member of the Ripple Company decided to establish the Stellar system. It was a kind of filiation. The Ripple and the Stellar are now the main competitors.<\/p>\n

In 2017 the world IT giant IBM Company suggested cooperation to the Stellar. Since that the Stellar turned into the fastest-growing ICO platform.<\/p>\n

Stellar can be considered as a common infrastructure for money<\/a>. A non-commercial organization supports the Stellar platform. It increases the compatibility between currencies and different financial systems. Thus, Stellar\u2019s mission is to help serving unity in the World.<\/p>\n

Stellar represents a simple technology. It allows conveying money between people, companies, and financial institutes. This means that separate individuals get access to financial operations. Bank expenses are reduced, and business profit is increased. Anyone can help to improve the financial system in the World. Each of you can be a member of this community. It would be a perfect way to recover the world\u2019s financial mechanisms. Moreover, people can use Stellar in their major financial operations.<\/p>\n

Where to buy Stellar Lumens?<\/h2>\n

\"Where<\/p>\n

Lumens has not yet received such widespread distribution as bitcoin or Ethereum. So it will not be possible to buy it using an online exchanger yet. Yet any popular crypto stocks work with Lumens. This also applies to such financial giants as Binance and OKEx.<\/p>\n

Specifically, you can make a deposit account or fundraising on a Stellar blockchain. The Stellar Wallet can be downloaded at the company\u2019s official website. After setting up the user launches a program and chooses an option \u201ccreate a new account\u201d. After entering the password, it is necessary to create an encrypted key. And finally, you select \u201cshow secret key\u201d to see, to copy, or to save it.<\/p>\n

Initially, the Stripe Company supported the XLM project by investing $ 3 million. Stripe was interested in developing the program. The XLM token was the only cryptocurrency not preceded by an ICO conducting. Based on this network the smart contrasts can be launched. Exchange transactions are also to be made. Moreover, you can create decentralized applications and conduct ICOs. So, Stellar becomes a competitor not only to Ripple but also to Ethereum.<\/p>\n

The acronym STR was used instead of XLM by the Poloniex platform. It is rather easy to deal with Lumens, just choosing the platform where it is sold. The first step is to deposit the required cryptocurrency or traditional money. Secondly, it is necessary to create an order in the buy order book and wait when someone to sell Lumens. XLM has a built-in decentralized exchange stock. It can be used for trading any currencies and assets. About 50% of the Stellar cryptocurrency trading takes place on the Binance exchange. Upbit, Poloniex, Kraken, and many other cryptocurrency stocks are also applied.<\/p>\n

The Lumen share capital is about $ 5 billion. It takes the 8th place in the world in this indicator between other cryptocurrencies. One coin cost between $0,26 \u0438 $0,44 in 2018. Later it achieved $1. Analysts believe in Stellar’s growth by 2021. Lumen is needed for internal network payments.<\/p>\n

As many analytics note, the XLM coins go directly to people. It is aimed at countries with no banks, only with telephones and the Internet. They will be able to easily connect through XLM to a bank. The borders are not a problem anymore. Ripple Labs and their chief, David Schwartz, disputed these findings.<\/p>\n