What Is Steller (XLM)?
Stellar (XLM) is a digital currency platform meant to allow developers to create financial products using cryptocurrency. Instead of just replacing money, it’s meant to replace the financial system, which includes a ton of moving parts, platforms, products, and services.
Who Is Stellar?
Stellar is maintained by the Stellar Development Foundation, led by co-founders David Mazieres and Jed McCaleb. The Foundation’s goal is to provide low-cost financial services to fight poverty and develop individual potential. McCaleb also founded infamous crypto exchange Mt. Gox.
Use Cases of Stellar
Stellar is aimed specifically at the financial industry. This means its use cases would involve either legacy companies or startups utilizing its platform to create mobile payment, transfer, and other money services.
How to Mine XLM
XLM Lumens are not mined. Instead, they’re generated at an inflation rate of 1 percent of the total supply annually. This balance is then distributed to hodlers accordingly, in a Proof-of-Stake (PoS) manner.
Stellar Investors and Partners
Stellar’s partnerships include IBM’s Hyperledger Fabric Project and American Express. It’s pushing to continue expanding its reach through further partnerships.
Learn More About Stellar
If you want to learn more about Stellar, I wrote a full coin intro guide at Crypto Briefing. Or you can learn more about other cryptocurrencies across Thought for Your Penny.