Why the 9th Largest Cryptocurrency is Worth Paying Attention To
Cryptocurrencies have been making headlines for the past few years, with Bitcoin leading the way. However, there are other crypto coins out there that are worth paying attention to. One such cryptocurrency is Stellar (XLM), currently the 9th largest cryptocurrency in the world by market capitalization.
Stellar was founded in 2014 by Jed McCaleb, who also co-founded Ripple (XRP) and Mt. Gox, one of the first Bitcoin exchanges. Stellar was created as a platform that could facilitate cross-border transactions and make it easier for people to exchange value across different currencies.
Stellar uses a decentralized network of nodes to process transactions, with each node having its copy of the Stellar ledger. This means that there is no single point of failure in the network, and the ledger is tamper-proof.
There are several reasons why Stellar is worth paying attention to. Here are a few:
1. Speed: Stellar transactions are processed in a matter of seconds, making it one of the fastest cryptocurrency networks out there. This is thanks to Stellar’s consensus protocol, which allows for fast and secure transactions.
2. Low Fees: Stellar transactions are also incredibly cheap, with fees ranging from a fraction of a penny to a few cents. This makes Stellar an attractive option for people who want to send small amounts of money across borders.
3. Focus on Financial Inclusion: One of the core tenets of Stellar is its focus on financial inclusion. Stellar believes that everyone should have access to affordable financial services, regardless of their location or economic status. To that end, Stellar has partnered with several non-profits and businesses to expand access to financial services in developing countries.
4. Partnerships: Stellar has also formed several partnerships with established companies and organizations in the financial industry. For example, IBM is using Stellar to facilitate cross-border payments for its clients, and Tempo is using Stellar to offer its users an instant, low-cost payment option.
5. Future Potential: Finally, Stellar has a lot of potential for future growth. The platform is still relatively young, and there is a lot of room for innovation in the crypto space. As more businesses and individuals adopt cryptocurrencies for everyday use, Stellar could become a go-to platform for cross-border transactions.
In conclusion, Stellar is a cryptocurrency worth paying attention to. With its fast transactions, low fees, focus on financial inclusion, partnerships, and potential for growth, Stellar has a lot going for it. Whether you’re an investor, a business owner, or someone who wants to send money across borders, Stellar is worth considering.
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