Stellar is an open-source, public network that lets its users store and conduct digital transactions of money. The platform leverages the power of blockchain technology to decentralize transfer of payments in a faster, energy efficient and highly affordable manner.
Stellar Lumens (XLM) is the native token within the Stellar network.Also known as Lumens, XLM tokens make it possible for Stellar’s users to send and receive money across the world in a faster manner than traditional fiat currencies.
Lumens or XLM offer an extremely low cost method to conduct almost real-time cross-border transactions, letting Stellar compete with established global payment providers. Unlike other services that charge high transaction fees, a transaction of any amount on the Stellar network costs only 0.00001 XLM, which works out to a few cents.
Stellar payment network is a promising project in the blockchain space, thanks to its partnership with IBM on the World Wire project. The initiative lets mainstream financial institutions leverage Stellar’s blockchain for conducting transactions using bridge assets such as stablecoins.
You can learn more about Stellar(XLM) at our KuCoin Blog.