What are stellar lumens (XLM)?

What Are Stellar Lumens? Stellar lumens (XLM) are a form of cryptocurrency created in 2014 by the nonprofit organization Stellar Development Foundation. Stellar is an open-source network that allows users to create, send, and trade digital representations of currency.

Who owns stellar XLM?

Stripe CEO Patrick Collision collaborated on the nonprofit corporation, and Stripe provided $3 million to Stellar in exchange for 2% of the initial launch (2 billion XLM). The Stellar Development Foundation is the organization behind Stellar.

What is stellar (XLM) coin?

Stellar is a blockchain-based decentralized protocol for digital currency to fiat money transfers. It allows cross-border transactions between any pair of currencies. Being an open network for money, Stellar has made it easy for users to create, send and trade digital representation on all forms of money.

How does XLM work?

Due to XLM, all transactions are seamlessly performed for both the sender and the recipient. And, in order to join Stellar Network, all retail users need is a stable internet connection and Lumen-enabled software; Decentralization: The Stellar database is open-source. No one authority controls the movement of Lumens.