Stellar (XLM) is an open network for storing and moving money that makes it possible to create, send, and trade digital representations of all forms of money: dollars, pesos, bitcoin, pretty much anything. It’s designed so all the world’s financial systems can work together on a single network.
It was released in July 2014 by its founder, Jed McCaleb, and the lawyer Joyce Kim after leaving Ripple in 2013 over disagreements about the company’s future direction. McCaleb’s goal is to ensure that Stellar can give people a way of moving fiat into cryptocurrencies and to eliminate the friction that is usually experienced when sending money around the world.
He currently serves as the CTO of Stellar, as well as the co-founder of the Stellar Development Foundation, which is a non-profit organization that aims to “unlock the world’s economic potential by making money more fluid, markets more open, and people more empowered.”
However, Stellar claims to have no owner: “if anything it’s owned by the public.” The software runs across a decentralized, open network and handles millions of transactions each day. Stellar relies on blockchain to keep the network in sync, but the end-user experience is more like cash, since it is much faster, cheaper, and more energy-efficient than typical blockchain-based systems.
Since 2014, Stellar has processed more than 450 million operations made by over 4 million individual accounts. Large enterprise companies and companies as small as single-dev startups have chosen Stellar to move money and access new markets. Users can employ Stellar’s built-in decentralized exchange for crypto, forex, or securities. Users can swap between tokens using simple functions built into the protocol.According to CoinMarketCap, the price of Stellar today is US$0,287420 with a 24-hour trading volume of US$295.769.134. Besides, XLM is currently ranked number 29 in CoinMarketCap’s ranking, with a live market cap of US$7.113.440.533. It has a circulating supply of 24.749.284.413 XLM coins and a maximum supply of 50.001.806.812 XLM coins.