Fun Facts about Stellar Lumens (XLM)
The goal of cryptocurrencies is to promote financial inclusion and diffuse power from banks to end-users. Bitcoin led the way, but Stellar Lumens represent an improvement.
Did you know that Ripple and Stellar share the same co-founder? Well, if you didn't, Jed McCaleb—who was also behind the world's first crypto exchange, Mt. Gox-- is behind the two top blockchains.
They share almost the same architecture. Only subtle features—a fundamental part being Stellar's vision—separate the two.
For instance, while Ripple focuses on the banking sector, Stellar is keen on bringing solutions to the unbanked, promoting financial inclusion and empowerment. This is executed using a scalable network, meaning transactions are cheap and settlement is instantaneous.
The Stellar Development Foundation builds the Stellar blockchain (SDF). Its currency is Stellar Lumens (XLM).
Since the project has ambitious goals, it has managed to draw quality partners in the technological world. Perhaps the most prominent is IBM which partnered with Stellar under the Hyperledger Project.
Also, the ability to conduct ICOs on the Stellar network has seen projects flow, crowdfunding millions. In the wake of CBDCs, Stellar also stands out as a solution that banks and stablecoin issuers can cheaply and quickly issue currencies.