Stellar, as its name means star. Become one of the stars of crypto currency that has been transacted since the beginning of 2018. Stellar is a provider of blockchain platforms from California, United States. Stellar Lumens with coins that are officially called Lumens or XLM, is one of the Blockchain-based open source platforms such as Bitcoin, Ethereum, Litecoin etc. In another sense, Stellar is a network that connects payment systems with integrated users to transfer quickly, reliably and almost without cost.

Data at coinmarketcap.com shows that XLM is ranked 6th out of the top 10 crypto currency standings based on current market capitalization. This shows that the response from the market is very positive for this type of crypto currency because the benefits offered as crypto currencies are very large.

Stellar Lumens was the first in the world of crypto currencies in 2014 with 100 billion pieces (XLM), then in 2015 Hardfork conducted a separation between 2 networks, namely: Stellar Network (as a means of investment, wealth storage, trade and transactions) , and Stellar.org (which is one of the non-profit organizations, contributes to the overall development of the Stellar network). This also makes stellar’s reason being upgraded to lumens, to distinguish between the stellar network itself and stellar.org as a non-profit organization that contributes to network development. Lumens itself is a development product from Stellar, which has thousands of developers because it is open source. The investment offered by Stellar is an investment that offers a rapid increase of more than 500% in just one year. Maybe there is no other investment that offers such a growth in just a short time, even Gold as a Precious Metal and a means of Safe Heaven Investment cannot afford to achieve such a large growth rate.

The advantages of Stellar Lumens

¶ Lumens has anti spam to the smallest level to prevent Dodds (attacks of thousands or even millions of requests at one time) which results in delays in processing transactions. This anti spam works by charging a transaction fee of 0.00001. And if anyone intends to do it, then automatically the attacker’s funds will be drained before the attack can damage the network.

¶ Lumens also protects from irresponsible parties such as alternative accounts, which requires each user to leave 20 lumens on their wallet account. So it will guarantee that each account registered is the original account.

¶ Unlike other digital currencies, Stellar transactions only stay in 2 to 5 seconds, allowing users to quickly exchange them in FIAT currencies.

¶ has facilities to bridge cross currency transactions. This function is adopted from XRP. So there is no limit to exchanging lumens to other crypto currencies such as BTC, ETH, LTC, XRP etc. And also for FIAT currencies like USD, GBP, SGD, IDR etc. This will provide a lot of convenience for users to transact without using a third party exchanger. Although it does not rule out the possibility that other exchangers can be a platform to exchange Lumens.

How to Make a Lumens Wallet

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There are many official swifts provided by the Stellar.org site and certainly far from scams including Ledger, Stronghold, StellarTerm, Stellar Desktop Client, Blackwallet, LuPoEx, LOBSTR, Stargazer, SAZA, Centaurus, and Papaya. And some of these swifts also support Desktop Wallets, Mobile Wallets, and also Web Wallets.

Desktop Wallets is a wallet that is stored on our own Desktop / Computer Board. So, all data about the Private Key, as well as other details about our XLM Account, will not be stored by the service provider, but stored on the local computer / other hardware. Desktop Wallet provided by Ledger, Stellar Desktop Client, and Stargazer includes the safest swift alternative to use, because all account details and access security are stored by the Wallet holder. Unlike the Web Based Wallet, because Wallet security data is also stored in the Web Server, it is feared that SCAM can occur.

Lumens the first Halal certification of Cryptocurrency

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That’s the good news, that Lumens is Stellar’s Halal-certified digital currency. This is one of the exciting news for all Muslims in the world. This is a breakthrough to attract Muslim sympathy on the cryptocurrency digital market. For the past year, Stellar has collaborated with the Bahrain Economic Development Board, an organisation that seizes foreign investment into Bahrain, so that its business can be accepted in an Islamic country. Halal certificates for currencies and the entire system run by Stellar are obtained by the Shariyah Review Bureau (SRB), an Islamic advisory firm licensed by the Bahrain central bank. So as to make the digital currency its publication fulfill Islamic law.

This concerns several provisions that must be obeyed by Stellar. Most fundamentally, SRB requires Stellar to provide clarity on prices in each transaction and determine the comparison of sales of Lumens currencies to the exchange rates allowed in Islam. Stellar itself is able to close the delay in verification of transactions by providing instant transactions. This also makes the basis of halal certification for lumens.

I am not of Cryptocurrency advance but I try best as I can for join  Stellar Lumens writing contest on trybe. If anyone to join this contest, please feel free for visiting here announcement by Tom Norwood. Hopefully it can useful for all readers.


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Responses

  1. Mawardi Ismail

    In the past, I was confused with the term STR or XLM, because in Poloniex it was short of STR, while on other platforms, such as Bittrex was abbreviated as XLM. But both of them are Stellar Lumens. Good article. Rated! ☆☆☆☆☆

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