Stellar Lumens Coin – worldwide transactions within seconds
The Stellar Lumens Coin has set itself high goals: It should form a platform which gives people all over the world and from all income groups the opportunity to carry out fast and inexpensive transactions.
The developers around the Stellar Development Foundation are less interested in high profits on the stock exchange than in facilitating global financial access for all. Nevertheless, Stellar Coin has experienced a tremendous upswing on the stock markets in recent months. What might be the reason for this?
Stellar Lumens Coin – What is this Bitcoin profit?
The Stellar crypto currency was already announced in 2014: http://www.onlinebetrug.de/bitcoin-profit The Stellar Lumens Coin, also simply called Lumens, is similar to Bitcoin a crypto currency that can be used as a means of payment. At the moment there are 100 trillion coins, which were called Stellars at the beginning. The lumens is part of the Bitcoin profit network. First you have to buy lumens with other currencies before you can participate in the network. The aim of this network is to use Lumens and the assets for a wide variety of payment transactions worldwide. There should be no fees because the middleman, who is normally played by the banks of the currencies, is not available. Using this crypto currency, transactions across national borders should be quick and easy to carry out. The assets of the network serve as promissory notes which can be converted into other currencies. The coin, on the other hand, is important for the functioning of the network.
For transactions, there is only a fee of 0.00001 lumens, regardless of the value of the goods actually exchanged. This small part is burned by the transaction. At the same time, 1% of the total number of new coins is created and distributed each year. Thus the number of coins should remain constant. In addition, each account in the Stellar network must have at least 20 lumens. Like most other crypto currencies, there is an open source protocol behind the coin, the so-called blockchain. Open source, because according to the principles of crypto currencies their functionality should be transparent for the user and it should be possible for people to use and further develop the technologies behind the virtual currencies. Blockchain, because it is a chain of blocks that contain information about the transactions using the crypto currency. The blockchain is not the same as the coin, rather it is the software that makes it possible to use the coin.
Stellar Lumens Coin – Who is behind the crypto currency?
Behind the crypto currency is the Stellar Development Foundation, a non-profit company based in Delaware. The foundation was founded primarily by Jed McCaleb, an American programmer who was previously known for the file-sharing websites eDonkey and Overnet. He later founded Mt. Gox, a trading center for Bitcoins based in Japan. He was also involved in the development of the successful crypto currency Ripple, which is very similar in many ways to Stellar. In fact, the stellarlumens coin development came about because the developers were not satisfied with the software behind Ripple and preferred to create their own version.
The Foundation’s goal is to provide everyone with access to the global financial world, thereby promoting literacy and integration. This is to be achieved through the favorable transactions of funds. Financial services are to become particularly favorable by the network, i.e. it is to result as little fees as possible. Jed McCaleb and his team see barriers in the national banks and national currencies that block people’s access to the global economy. This crypto currency, on the other hand, is intended to create an open world financial system that is available to people of all income levels. In addition, the network should help to develop technologies that create better financial products and services for all. The Stellar Development Foundation does not have any shares and no profits can be made through lumens, as is the case with mining Bitcoins.
Advantages and disadvantages of Stellar
The coin as a system currency within the network protects it from spam. The trading fee, as low as it may be, and the fact that an account can only participate in the network if it has at least 20 lumens, are simple measures against spam. A spammer m