- Stellar works as a cryptocurrency and payment platform.
- Stellar Lumen (XLM) makes its way to Bitcoiva, a leading Indian crypto trading platform.
- Stellar (XLM) has invested in a digital asset settlement network in South America.
Stellar is a universal decentralized platform for digital currency payment. Stellar allows users to
send, receive, trade, create a digital currency of any form (crypto, dollars, pesos, forex etc).
How does the Stellar protocol work?
Stellar works on (SCP) stellar consensus protocol technology operate on blockchain network
which makes the transaction process faster than other pow(payment of work) platforms.
Basically, one can transfer or exchange any kind of virtual/digital currency to traditional money.
It doesn’t limit to any specific crypto or digital currency which sets this platform apart from the
most available in the market.
Stellar has created a built-in token called Lumen (XLM), keeping in mind stellar’s network protocol
requirement. Stellar users need to maintain a minimum token balance in their account as without
nominal balance, ledger can get filled with spam/junk. Currently account holders need to
maintain a minimum of 1 lumen in their account and the minimum transaction fee is 0.00001
Stellar was founded by an American programmer & entrepreneur Jed McCaleb in 2015 who is
also a co-founder of Ripple and is a current CTO of Stellar(XLM).
Stellar is expanding, targeting different markets such as India, Germany and South
Crypto market has seen drastic growth around the world and keeping up with the fast pace is
imperative for all digital platforms. Stellar has targeted different markets and started being
available in new exchange platforms, such as Bitcovia and Börse Stuttgart and also making
investments in South America.
Bitcoiva launched in the middle of 2020 and it has become India’s leading cryptocurrency
exchange platform that supports cryptocurrencies and other stock transactions. It has a direct
buy order option. It provides easy, interactive and fast transactions to investors. The exchange
platform holds its own coin token called Bitcoiva (BCA). Bitcoiva´s objective is to make the
investors succeed in trading by providing 24/7 support, keeping things simple and providing faster
order mapping with low commission fees. XLM is available on the platform from 05/29/2021.
Stellar lumen also got into Börse Stuttgart, the second largest and most trusted stock exchange
company in Germany. Börse Stuttgart has launched three new exchange-traded notes (ETNs),
from now on Stellar (XLM), Cardano (ADA) and PolkaDot (DOT) will be available on the trading
platform. Börse Stuttgart is trading 22 ETNs in total and the price assets are displayed in euros.
Jürgen Dietrich is a director of Börse Stuttgart, He stated that the investors took advantage of the
crypto volatility when it was launched. Although, he asserts that in May ‘21 the company
registered a trading volume of ETNs of about 9.3 billion.
Furthermore, at the end of last year we saw the presence of Stellar (XLM) in South America. Stellar
has invested in “Settle”, the largest digital asset settlement network in the South American region.
Stellar´s network is present in Argentina and Brazil and it has a strong presence in other areas.
Stellar Development Foundation CEO, Mr Dixon asserts that the Settle network is working as
expected and the mission of the project is to get financial access to everyone who needs it.
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