Beginner Coin Introductions
Newcomer Analysis: Stellar Lumens
Current Market Cap: $3,447,790,620
Stellar is blockchain-based network with a distributed ledger. Its main goal is to financially connect people, banks, and payment systems on an international level in a low-cost manner. The native cryptocurrency of Stellar is the lumen.
Like Bitcoin, Stellar runs on a network of decentralized servers with a continuously updating distributed ledger.
Unlike Bitcoin, Stellar features a consensus protocol in which nodes collaborate with other nodes to verify the integrity of transactions. This results in an extremely fast network speed with approximately 1,000 network operations per second.
Two aspects of current international fund transfers that Stellar aims to reduce is time lag and transaction costs. Stellar has focused its efforts in developing economies in the sectors of bank loans and remittances.
My bias: I see huge promise in the Stellar network. Its high degree of specialization implies a very specific vision for the network from its developers/founders, and it seems to be fulfilling that vision. Their increased cooperation and adoption by a diverse set of world governments, most recently Ukraine, has validated my initial favorable view towards Stellar.
References:
https://coinmarketcap.com/
https://www.investopedia.com/terms/s/stellar-cryptocurrency.asp
https://www.investopedia.com/news/what-stellar/
https://www.stellar.org/press-releases/ukrainian-ministry-of-digital-transformation-to-develop-virtual-assets-and-to-facilitate-cbdc-infrastructure-with-the-stellar-development-foundation
Disclaimer: I am by no means a cryptocurrency professional. I am a BS in Finance and approach my analyses through an economic and financial point of view. I do my best to integrate all current relevant information into analysis.
