It is not as slow as Bitcoin, and it is even faster than Dash and Neo thanks to a dedicated consent validation protocol. Here is lumens, the cryptocurrency that shines with its own light.
Among the virtual coins that are based on blockchain technology, and which stood out last year with staggering increases Stellar Lumens stands out, whose identification code on the exchange platforms is XLM.
The intention of the team behind Stellar is to incorporate micropayments, remittances, mobile money and services for those without bank accounts. These services are likely to include low-cost loans as well as a means to store and save earnings – and it’s easy to see how this could be beneficial in helping individual users and businesses based in developing nations to connect financially with the wider world.
Each account holder will be required to hold a minimum balance of 1 Lumen, and each transaction incurs a fee of just 0.00001 Lumen – primarily to prevent malicious users from flooding the network via a Denial of Service (DoS) attack.
Lumens and Stellar, the cryptocurrency and the decentralized network
In reality, the cryptocurrency is Lumens, while Stellar is the decentralized network that has been adopted and tested by many companies. starting from Deloitte and passing through IBM, Mobius and for the money transfer company Tempo. According to what was reported by btcmanager.com wondering why Stellar, in the vast universe of cryptocurrency, can be a good investment.
‘Stellar is tailor-made for an application like Kik’, said Ted Livingston, founder of Kik Messenger, adding on the decentralized network that this ‘provides fast, reliable and inexpensive transactions’.
The Lumens consent protocol
One of the strengths of Lumens lies in the protocol of consent for the validation of transactions that is not the proof of work of Bitcoin (BTC), which among its limits has to consume a lot of energy for mining, and even the proof of digital coins stake like Dash (DASH) and Neo (NEO).
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