![]() Lumens now trade under the ticker symbol XLM on exchanges like Kraken, and as a result, they are often called XLM for short. Stellar is the name for the distributed computer network on which lumens are the cryptocurrency required to send transactions. In this way, Stellar shares similarities with the XRP Ledger (and its cryptocurrency, XRP), which is also meant to provide a protocol for payment providers and financial institutions.īut Stellar has also sought to position itself as a kind of decentralized exchange, as its ledger has what is effectively a built-in order book that keeps track of the ownership of Stellar assets.ĭevelopers have increasingly sought to make Stellar a marketplace for assets issued on its own protocol, with features that allow users to manage buy and sell orders and set preferred assets when settling trades. These assets can then be traded between users (across borders) with less friction using its cryptocurrency, lumens (XLM). The idea is anyone using a service powered by Stellar could transfer everything from traditional currencies to tokens representing new and existing assets. The difference is that Stellar enables these services by incentivizing a distributed network of computers to run a common software. As it did at its 2014 launch, Stellar allows users today to send money and assets in ways that have traditionally been the domain of payment providers. So while answers to the question “What is Stellar?” may change depending on who you ask, that isn’t the fault of the technology. ![]() Stellar seeks to reimagine the market for currency and asset transfer by creating a distributed network that’s been described as everything from a payment rail to an exchange. ![]()
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