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When was XLM coin issued? Learn about the origin of XLM coin in one article
XLM, originally called Stellar Lumens, emerged in 2015 as a native token for the Stellar blockchain, facilitating cross-border transactions by bypassing traditional financial systems.
Oct 11, 2024 at 02:54 pm
1. Origin of XLM Coin
XLM, formerly known as Stellar Lumens, is a decentralized blockchain network that facilitates cross-border transactions and enables the transfer of assets between different currencies. Here's an overview of its origin:
- Creation of Stellar (2014): Stellar was initially launched in 2014 by Jed McCaleb and Joyce Kim as a spin-off from Ripple Labs, another blockchain company.
- XLM Token Issuance (2015): Along with the Stellar network, the XLM token was introduced in 2015 as a native token used to pay transaction fees and secure the network.
- Rebranding to Stellar Lumens (2019): In 2019, the Stellar Development Foundation (SDF), the non-profit organization overseeing Stellar, rebranded the project from Stellar to Stellar Lumens. This was done to distinguish the network from the XLM token.
- Focus on Cross-Border Transactions: From its inception, Stellar has emphasized facilitating efficient and low-cost cross-border transactions. It leverages its decentralized network to bypass intermediaries and traditional financial systems, reducing transaction costs and time.
- Strategic Partnerships: The SDF has forged strategic partnerships with various financial institutions, fintech companies, and non-profit organizations to drive adoption and expand the use cases of XLM.
- Current Development: Stellar continues to evolve and expand, with ongoing developments focused on enhancing interoperability, reducing transaction fees, and strengthening security.
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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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