What is Stellar Lumens (XLM)?
Stellar Lumens (XLM) is a cryptocurrency that was designed to facilitate cross-border payments and make financial transactions faster, cheaper, and more accessible. The Stellar network, which was created by Jed McCaleb in 2014, uses the XLM cryptocurrency to power transactions on its blockchain. In this article, we will explore the history of Stellar Lumens, how it works, and its potential use cases.
History of Stellar Lumens
Stellar was created by Jed McCaleb, who is also the co-founder of Ripple. McCaleb had previously founded Mt. Gox, one of the earliest cryptocurrency exchanges, which went bankrupt in 2014 after a hack. McCaleb created Stellar to address some of the problems he saw with the traditional financial system, such as high transaction fees, long settlement times, and lack o...