Stellar is identified as a platform that connects banks, payments systems, and people and it’s used to facilitate low-cost payments between different currencies and send money across borders quickly. Stellar is supported by a nonprofit and it represents an open-source payment technology that shares several similarities with Ripple. The founder of Stellar is Jed McCaleb, also co-founded Ripple.
Stellar (XLM) Technology
Stellar is a blockchain based payment technology, a cryptocurrency with a goal to connect financial institutions and drastically reduce the cost and time required for cross-border transfers. What is different about Stellar is that it uses the Federated Byzantine Agreement (FBA) algorithm. The consensus protocol used does not rely on the entire miner network to approve transactions. It uses so called “quorum slices” or a sample of the network to validate. This leads to faster transaction processing making the Stellar network extremely fast and it is said to process as many as 1,000 network operations per second.
Stellar (XLM) Trading
Stellar has been a regular in the top 10 cryptocurrencies with a market cap of just under 5 billion. The circulating supply is approximately 18,5 billion with a daily trading volume of around 60 million. Stellar can be traded on most popular cryptocurrency trading platforms, with highest trading volume on Binance, Upbit and BCEX.
Supported markets:
BitcoinAverage supports the following Stellar trading markets:
- Stellar (XLM) to Bitcoin (BTC) – https://bitcoinaverage.com/markets/coins/XLM/BTC
- Stellar (XLM) to Ethereum (ETH) – https://bitcoinaverage.com/markets/coins/XLM/ETH
- Stellar (XLM) to Tether (USDT) – https://bitcoinaverage.com/markets/coins/XLM/USDT
- Stellar (XLM) to US Dollar (USD) – https://bitcoinaverage.com/markets/coins/XLM/USD
- Stellar (XLM) to Euro (EUR) – https://bitcoinaverage.com/markets/coins/XLM/EUR
Stellar API urls:
- Stellar (XLM) to Bitcoin (BTC) – https://apiv2.bitcoinaverage.com/indices/crypto/ticker/XLMBTC
- Stellar (XLM) to Ethereum (ETH) – https://apiv2.bitcoinaverage.com/indices/crypto/ticker/XLMETH
- Stellar (XLM) to Tether (USDT) – https://apiv2.bitcoinaverage.com/indices/crypto/ticker/XLMUSDT
- Stellar (XLM) to US Dollar (USD) – https://apiv2.bitcoinaverage.com/indices/local/ticker/XLMUSD
- Stellar (XLM) to Euro (EUR) – https://apiv2.bitcoinaverage.com/indices/local/ticker/XLMEUR