Facts about Stellar Lumen [XLM] you should know before Airdrop

in #cryptocurrency4 years ago (edited)

Stellar Lumen (c) bittrust.s3.amazonaws.com

Premined Currency with own Blockchain and mulit-currency exchange

Currency Code: XLM
Max Supply: 100 bln. XLM
inflation: 1% fixed p.a.
Published: 2014
Consensus: Federated Byzantine Agreement (FBA) https://www.stellar.org/papers/stellar-consensus-protocol.pdf
Block Time: 3..5 seconds
Website: https://www.stellar.org/lumens/
Website: https://www.mystellar.org/portal.php

Features & Specifications

• Supports thousands of transactions per second
• Can be used sendind or trading any currency, asset or token
• Uses SCP, no Proof of Work
• Simple, clean API
• Multisig and smart contracts
• Also free distribution to BTC and Ripple holders (Aug 2017)

Data of 2017-08-20

• Market Cap: 49,842 BTC / $202,742,395
• Volume (24h): 1,594 BTC / $6,485,660
• Circulating Supply: 11,084,937,334 XLM

Self-Descripton from stellar.org

• 2014: The Stellar network launched with 100 billion STELLARS as network’s native asset.
• 2015: Launch of the upgraded network. The name of the native asset was changed from Stellar to LUMEN (1, distinguish it from the Stellar network itself and from 2, the nonprofit organization Stellar.org, which contributes to development of the network.

"First, lumens play a small anti-spam role.
Each transaction has a minor fee — 0.00001 lumens— associated with it. This fee prevents users with malicious intentions from flooding the network (otherwise known as a DoS attack). Lumens work as a security token, mitigating DoS attacks that attempt to generate large numbers of transactions or consume large amounts of space in the ledger.

Similarly, the Stellar network requires all accounts to hold a minimum balance of 20 lumens. This requirement ensures that accounts are authentic, which helps the network maintain a seamless flow of transactions.

Second, lumens may facilitate multi-currency transactions.
Lumens sometimes facilitate trades between pairs of currencies between which there is not a large direct market, acting as a bridge. This function is possible when there is a liquid market between the lumen and each currency involved.

95% of the lumens created when the Stellar network began will be given away to the world. 5% remains with Stellar.org for operational costs.

Stellar.org designed the giveaway program to ensure that lumens are given away to diverse groups:

50% to individuals who want lumens
25% for nonprofits to reach underserved populations
20% to bitcoin holders"
05% retained by Stellar.org for operations

Distributed Exchange
The Stellar Ledger is able to store offers buying or selling currencies (FIAT, Crypto). Offers are public commitments to exchange one type of credit for another at a predetermined rate. The Stellar Ledger becomes a global marketplace for assets.

All offers stored in orderbooks, each for every currency/issuer pair. For example, you want to exchange Santander Bank/EUR for Kraken/BTC, you look at that particular order book in the ledger, who are buying and selling it for.
This allows people not only buying and selling currencies in a foreign exchange like manner, but also converting currencies seamlessly during transactions.

Multi-currency transactions
Multi-currency transactions with Stellar Lumen

Stellar allows you transfering any currency you hold to anyone else in a different currency through the built-in distributed exchange. People are able receiving any currency through an anchor they've added.
For example, Ann wants to send Bob Euros, using her BTC balance. Stellar will automatically convert her BTC to EUR. The Stellar Network finds the best exchange rate for her transaction.

Executive Team of Stellar.org

• Joyce Kim - Co-Founder
• Keith Rabois - Board Member
• Shivani Siroya - Board Member
• Greg Brockman - Board Member
• Boris Rezniko - Partnerships
• Colleen McGarry - Operations
• Brian Gale - Growth
• Ella Qiang - Partnerships China
• Lisa Nestor - Partnerships
• Tunde Ladipo - Partnerships

Development Team

Stellar Developers are in the USA, Germany, Belarus, Thailand, Indonesia, China, Japan, South Africa, Nigeria:
• Jed McCaleb - Lead Developer, Co-Founder of Stellar Foundation
• Bartek Nowotarski - Developer
• David Mazières - Chief Scientist
• Rafal Malinowski - Developer
• Romina Kavcic - Designer
• Scott Fleckenstein - Developer

Board Members

• Keith RaboisKeith Rabois - Investment Partner, Khosla Ventures
• Joyce KimJoyce Kim - Stellar cofounder
• Shivani SiroyaShivani Siroya - CEO of InVenture
• Greg BrockmanGreg Brockman - Former CTO at Stripe


• Patrick CollisonPatrick Collison - Cofounder and CEO of Stripe
• Greg SteinGreg Stein - Director at the Apache Software Foundation
• Matt Mullenweg - Founder of WordPress.com
• Naval RavikantNaval Ravikant - Founder of AngelList
• Ronaldo LemosRonaldo Lemos - Director, Institute for Tecnhology & Society of Rio de Janeiro (ITSrio.org), board member to the Mozilla Foundation and AccessNow
• Sam AltmanSam Altman - President of Y Combinator
• Dan KaminskyDan Kaminsky - Chief Scientist at White Ops
• Bhagwan Chowdhry - Professor at UCLA Anderson

Year Founded: July 2014 (Stellar received funding from Stripe)
Country: Based in San Francisco, CA, USA

Topical Statistics

• Network Statistics: https://dashboard.stellar.org/
• Chain Statistics: https://stellarchain.io/

Airdrop Stellar Lumen

• Get yourself a stellar piece of the Lumens pie: https://steemit.com/cryptocurrency/@btcmillionaire/get-yourself-a-stellar-piece-of-the-lumens-pie
• Claiming your free Stellar Lumens (for Bitcoin Holders) - Here is how you do it! https://steemit.com/cryptocurrency/@btcmillionaire/claiming-your-free-stellar-lumens-for-bitcoin-holders-here-is-how-you-do-it
• Everything You Need To Know About The Currency "Stellar Lumens" That Rose 500% In 7 Days: https://steemit.com/money/@sirwinchester/everything-you-need-to-know-about-the-currency-stellar-lumens-that-rose-500-in-7-days

Additional Information

• Code: https://github.com/stellar
• Using Stellar for ICOs: https://www.stellar.org/blog/using-stellar-for-ico/
• The Stellar Consensus Protocol - A Federated Model for Internet-level Consensus: https://www.stellar.org/papers/stellar-consensus-protocol.pdf
• Technical Blog: https://www.stellar.org/blog/category/technical/
• Twitter: https://twitter.com/stellarorg
• Slack: http://slack.stellar.org/
• Reddit: http://www.reddit.com/r/stellar/
• Facebook: https://www.facebook.com/stellarfoundation


Many Thanks to @gspeagle for https://steemit.com/blockchain/@gspeagle/top-30-cryptocurrencies-names-of-executives-and-developers-and-location-of-servers-and-country-of-origin


For more Information

• Feel free following me @bitcoin-123 and/or send helpfull comments
• and take a look to a list of my crypto related articles on SteemIt: http://123-bitcoin.de/krypto.html

Thanks for reading/upvoting ...


It's better not to post, than to copy and post.

Always quote a content that is not originally done by you

Not allways! Only some phrases in the self description chapter!

Nice blog. Interesting to see I'm not the only one that is thinking about this. No matter how populair a coin is. People should always do a proper background check. It surprises me how many coins are out there that don't have their basics right. I found this amazing platform: https://www.coincheckup.com Every single coin can be analysed here based on: the team, the product, advisors, community, the business and the business model and much more. Check: https://www.coincheckup.com/coins/Stellar Lumens#analysis To see the: Stellar Lumens Detailed report

@bitcoin-123 Do tiy know if hardware wallets such as Trezor or Ledger supporting the drop?