“Move money across borders quickly, reliably, and for fractions of a penny”
Stellar’s goal is making it easy to “move money across borders quickly, reliably, and for fractions of a penny.” From this alone, you can guess that Stellar is a currency coin and not much more — in that sense, it’s very much like Bitcoin, so it’s important they get the payment aspect right.
Stellar was launched with the stellar token, which has since been renamed to Stellar Lumens, or just Lumens — with the ticker XLM.
Stellar boasts of many features which already exist in the cryptocurrency ecosystem — cheap remittances, effective micropayments, and mobile money — but it seems like their more centralized approach is designed to be the optimum blend between human governance and blockchain technology.
Origins and Team
The Stellar project was launched in 2014 by Jed McCaleb and Joyce Kim. The team has since grown vastly, and features 10 full time developers and analysts, as well as a team of advisors and small board.
Stellar launched in August 2014 with the market cap just under US $800,000 — which is unheard of among modern, ICO-born coins. Until mid 2017, it’s value fluctuated between one quarter and one half US cents, before exploding to just under 6.5 cents. At the end of 2017 it spiked up to a peak 85 cents per token, before falling down to just 20 in April 2018. Since then the coin has risen temporarily to 43 cents before falling down to its current price of 28 cents.
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