What is Stellar? Meet 7th Biggest Cryptocurrency in the World

Stellar has the potential to become one of the hottest cryptocurrencies of 2018. If you are wondering – “What is Stellar?”, then you are in the right place! We explain exactly that.

4 January, AtoZMarkets Have you yet heard of Stellar? This not-so-popular cryptocurrency so far might be one of the top cryptocurrencies 2018. Stellar has started a year with great gains – the cryptocurrency has advanced by 65% since December 29. As of now, the price of a single Stellar coin stands at $0.860499.

What is Stellar (XLM)?

The digital currency now holds a market capitalization of $15,316,851,065, which makes it the 7th biggest cryptocurrency in the world by market cap.

What is Stellar, anyway?

The cryptocurrency with a symbol XLM or Lumen is proud to be able to carry out extremely fast transactions. Stellar operates a network with the blockchain technology behind BTC. While one Bitcoin transaction might take an hour, Stellar is able to take only some seconds for this operation. The cryptocurrency is aiming to enable users to rapidly exchange government supported currencies. For instance, you could exchange US dollars to EUR.

Stellar got some support from the industry giants, as well. The computer manufacturing company IBM utilizes XLM network to develop a cross-border payment system. Another big partner of Steller – Deloitte.

Ripple and Stellar Share the Founder

While Bitcoin price has been on the somewhat shaky ground during the festive season, other cryptocurrencies have been rallying. For instance, just today, Ripple has hit another record high above $3.70, leaving the markets in complete shock.

Nevertheless, Bitcoin has seen some support from the industry. Peter Thiel – a PayPal co-founder and the director if the Founders Fund, has invested a hefty sum into Bitcoin.

An interesting fact is that both Ripple and Stellar have been founded by the same person – Jed McCaleb. This is the person behind the Mt.Gox, as well. The founder has left Ripple back in 2013, and sold the once biggest Bitcoin exchange in the world to Mark Karpeles. Under the latter management, the exchange has suffered a massive hack and filed for bankruptcy, causing a drop in Bitcoin’s value.

Think we missed something? Let us know in the comments section below.

    Share Your Opinion, Write a Comment