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Popular science: What is XLM coin? How to obtain XLM coins?
XLM coin, the backbone of the Stellar network, is a decentralized cryptocurrency enabling fast, low-cost cross-border transactions.
Oct 07, 2024 at 08:06 pm
What is XLM Coin?
XLM coin, also known as Stellar Lumens, is a decentralized cryptocurrency that is designed to facilitate fast, low-cost transactions across borders. It is the native cryptocurrency of the Stellar network, which is a blockchain-based platform that enables the creation of new cryptocurrencies, decentralized applications (dApps), and other financial products.
XLM coins are used to pay transaction fees on the Stellar network and to provide liquidity for trading between different assets. They can also be used to vote on Stellar network proposals and to participate in the Stellar Consensus Protocol, which is the network's consensus algorithm.
How to Obtain XLM Coins
There are several ways to obtain XLM coins:
- Buy them on a cryptocurrency exchange. Coinbase and Binance are two of the most popular cryptocurrency exchanges that allow users to buy XLM coins with their credit cards or bank accounts.
- Earn them through airdrops. Airdrops are promotions in which cryptocurrency projects distribute free tokens to their users. XLM coin airdrops have been conducted by several projects in the past, including the Stellar Development Foundation.
- Mine them. XLM coins can be mined using a process called Proof of Work. However, mining XLM coins is no longer profitable for most miners, as the network has become too large.
Conclusion
XLM coin is a decentralized cryptocurrency that is designed to facilitate fast, low-cost transactions across borders. It is the native cryptocurrency of the Stellar network, which is a blockchain-based platform that enables the creation of new cryptocurrencies, dApps, and other financial products. XLM coins can be obtained by buying them on a cryptocurrency exchange, earning them through airdrops, or mining them.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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