What is XLM and how does it work?

XLM (or Lumens), fuels activity on the Stellar network. The Stellar network is a system designed to help payments cross borders (and currencies) much faster and more cheaply than with traditional financial-system networks. For example, a bank in Japan might use Stellar to send money to a bank in Mexico.

What is stellar (XLM)?

What Is Stellar (XLM)? Stellar (XLM) is a peer-to-peer ( P2P) decentralized network created in 2014 by The Stellar Development Foundation or Stellar.org. The network officially launched in 2015 with the purpose of connecting the world's financial systems and ensuring a protocol for payment providers and financial institutions.

What is lumen (XLM) coin?

The word “Lumen” is explicitly based on the network and comes with the tag XLM. Emerging from a rift within the cross-border coin executives, Ripple (XRP), Stellar came onto the cryptocurrency ecosystem in mid-2014. The Lumen (XLM) coin was created and made over to the public.

What are the remaining XLM coins?

The remaining crypto coins are held by the Stellar Development Foundation and are currently used to help promote and develop the blockchain, although these coins will end up on the open market in the coming years. The one thing to note here is that there will be no more new XLM coins minted.