Stellar Lumens (XLM)
Purpose: Decentralized Ripple
Price for 1 XLM0,1336 $
Rank: 26 - Market Cap: 3,33 bn $
- Cross-border payment (replace Swift)
- No miners
- Minimal transaction time and cost (3 - 5 seconds; 0.00001 XLM)
- Decentralized distribution
- Scalability (~ 1000 transactions per second)
- Open source and community owned
- Lumens that were accidentally sent can be freed, so they cannot be spent, only sent back
- Decentralized control (no central authority)
- Low latency (-> minimal transaction times)
- Flexible trust (each node can decide which node is trustworthy)
- Consensus is reached according to Stellar consensus protocol (SCP), a special form of FBA (Federated Byzantine agreement).
- Transaction is initially confirmed by few trusted nodes, which in turn are further confirmed by other nodes important to them.
- A transaction is considered confirmed when the vast majority of nodes consider the transaction to be confirmed.
- Asymptotic security (51 percent of attacks are made more difficult)