Stellar (XLM)

Stellar is an open, public blockchain launched in 2014, designed to facilitate fast and inexpensive global money transfers. Functioning as a shared digital record-book, the network allows anyone to use it without the ability for any single party to secretly alter the data. Its native digital coin is the lumen, with the ticker symbol XLM. Stellar operates as a global payment network, acting as an internet-native alternative to traditional banking systems used for cross-border settlements. The network consists of computers worldwide that maintain a shared ledger, enabling value to travel almost instantly for a minimal cost. Lumens serve two primary functions: they pay the small fees required to keep the network running and act as a bridge between different currencies. For instance, the system can convert dollars into lumens and then into euros in a single step, allowing users to transact in familiar money. Co-founded by programmer Jed McCaleb, the platform aims to fix the inefficiencies of traditional remittance, which often involves multiple banks, takes days, and incurs high fees. In simple terms, Stellar is a blockchain for moving and exchanging money cheaply, with XLM serving as its fuel.