What is XLM? What is XLM coin

The Stellar platform employs XLM (Stellar Lumens) as its native cryptocurrency, facilitating cross-border transactions, enabling asset tokenization, and powering DeFi applications.

Oct 15, 2024 at 12:11 am

1. What is XLM?

XLM, also known as Stellar Lumens, is a decentralized blockchain platform designed for cross-border payments. It facilitates the exchange of fiat currencies, digital assets, and cryptocurrencies across different countries and regions.

2. What is XLM Coin?

XLM Coins are the native token of the Stellar blockchain. They serve several purposes:

Transaction Fees: XLM coins are required to pay transaction fees on the Stellar network.
Security: XLM coins are used as a stake by network validators to secure the blockchain.
Medium of Exchange: XLM can be used as a digital currency to send and receive payments.
Asset Anchor Tokens: XLM is used to create and anchor asset tokens on the Stellar network, allowing users to hold real-world assets like dollars or gold in digital form.

3. Features of XLM:

Fast and Scalable: The Stellar network can process thousands of transactions per second (TPS) with minimal latency.
Low-Cost Transactions: Transaction fees on theStellar network are extremely low, typically less than a cent.
Cross-Border Transfers: Stellar is designed for seamless cross-border payments, enabling fast and affordable transfers globally.
Decentralized: The Stellar network is decentralized, meaning it is not controlled by any single entity or institution.
Asset Tokenization: Stellar allows for the creation of asset tokens that can represent fiat currencies, commodities, or even loyalty points.

4. Use Cases for XLM:

Remittances: XLM can be used for international remittances, saving people money in fees and time.
Cross-Currency Trading: Stellar facilitates the exchange of various currencies at competitive rates.
Decentralized Finance (DeFi): XLM is used in DeFi applications, such as yield farming and lending platforms.
Asset Tokenization: Stellar enables businesses to tokenize real-world assets and access new funding sources.
Supply Chain Management: The Stellar network can be used to track the movement of goods and materials across supply chains.

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