XLM Stellar was created by one of Ripple’s founders. Initially, XLM was a Ripple fork. The project’s launch was financed by the Stipe company, which invested $3 million in Stellar at its early stage.
The main difference between Ripple and Stellar is the way of picking validators in the network. For example, the validators’ pick is centralised in the Ripple network, while Stellar stands for total decentralisation.
As of early August 2022, the XLM crypto price is $0,1143, and the market cap is $2,88 billion.
Key Points About Stellar:
- Every new block in the Stellar network is generated in 5 seconds.
- Due to decentralisation, every network participant can create new nodes and blocks.
- Since there is no strict control on who can participate in block forming, the level of safety suffers.
- The network participants do not receive any rewards for block forming but only a little interest. Thus, they are not much motivated to do that.
- The Stellar network enables easy and fast transactions of fiat money and crypto assets by narrowing the gap between digital assets and traditional currencies.
The Stellar platform enables smart contracts and decentralised apps deployment; some applications have already been built on this network and running now. It is also possible to conduct ICO through the Ripple platform.
Does It Worth To Buy XLM?
Since the application of the Stellar network use is large and it brings many benefits enabling faster and cheap transfers of fiat and other currencies, the project has all the chances to boost. Thus, the XLM cryptocurrency rate will grow as well. There is a large potential for this growth, so it makes a point to buy and hold XLM.
The asset is traded on major crypto platforms like Binance, WhiteBIT, Coinbase, etc. On these centralised exchanges, you can buy XLM Stellar with your bank card, convert it to any other crypto asset or hold it on the exchange’s wallet as much as you wish, for those services are credible and provide a high level of your funds’ protection.
