XLM Price today

Stellar is a blockchain platform that helps users transfer money and digital assets across borders with fast speed, reliability, and low cost. Specifically, Stellar is an open-source distributed payment network capable of connecting banks and payment systems with users, facilitating the trading of currencies and digital assets. Stellar is also a Blockchain Platform that allows developers to build applications, products or tokenize assets on their platform.

Stellar is focused on payments and helps users create tokens based on collateral. Essentially, Stellar is a fork (fork) of Ripple (XRP). However, starting in 2015, Stellar completed its consensus protocol, called the Stellar Consensus Protocol, and is no longer related to Ripple.

Some outstanding features of Stellar:

• Money Transfer Feature: Send cash across countries quickly and with minimal fees; it’s almost free.
• MicroPayment Feature: Helps increase efficiency, reduce the price of smaller transfers, and offer more progressive forms of payment to users.
• Mobile Branch feature: Can help expand retail operations at a very cheap and optimal cost.
• Mobile Cash Feature: A practical mobile cash platform makes it possible for users to send money to different providers.

XLM (Stellar token) is a token operating on the Stellar platform, used for the following purposes:

• Pay transaction fees: XLM is used to pay transaction fees on the Stellar network.
• Payout: XLM is used as a reward for those who participate in voting on the network.
• Payment & Remittance: Users need to hold XLM to use Stellar services.
• Liquidity: XLM is a cross-currency (intermediate currency for converting between assets).