In March 2019, Western Union started to work with Thunes, a blockchain platform that offers transnational transactions. Cooperation with Thunes and Western UnionĪlthough XLM isn’t as popular as Bitcoin, it has many partners that support Lumen transactions. According to the post, Keybase was unable to verify and ban all the fraudulent accounts. However, the situation rapidly changed as in December 2019, Keybase wrote in their blog that the planned airdrop had been canceled. Each of the clients would get up to $500 worth of XLM. The event was designed to take place for 20 months and only verified customers were eligible to participate. They also cooperated with Keybase, a file-sharing application to organize the process. The company planned to give away more than $120 million worth of Stellar Lumens. In 2019, Stellar Lumens announced another airdrop. claimed that this airdrop was the biggest one ever.
Did it change the Stellar’s price? Of course, the price increases by ten percent right after the announcement and it continued to rise for at least one day after the airdrop started. The rest of the Stellar Lumens should have been given to existing customers. The company decided to deposit $25 in XLM into each new Blockchain’s wallet. They were going to release $125 million in XLM over a half a year. AirdropsĪdvertising both itself and Stellar, promoted its first airdrop in 2018. What happened to Stellar Lumens over these years? Here are the most important milestones to pay attention to. Binance’s Trust Wallet began to accept and support XLM transactions for its customers. In the same year, Binance started to work with Stellar. In March 2019, Stellar announced that Denelle Dixon would take over Jed McCaleb’s leadership role as executive director. Stellar Lumens went through different times during these six years. Stellar has its own native crypto called Lumens or XLM. Plus, they work as a decentralized system for Bitcoin exchange. For example, it allows exchanging Stellar for Bitcoin. Nowadays, Stellar is an international consortium that brings together individuals and businesses from all over the world. In other words, the ecosystem links people, institutions, and payment systems whenever they are located. Unlike its main rival in the market, Ripple, Stellar Lumens concentrates on the individuals rather than financial institutions.
Stellar was tailored to be a decentralized payment platform that would give its clients an opportunity to make international transactions between any areas and any currencies. Stellar was created as something bigger than one particular cryptocurrency as the aim of the founders was to offer the integrity of financial transactions. He also launched the now non-functioning bitcoin exchange, called the Mt. Who were the founders? Among the creators was Jed McCaleb, who is famous as co-founder of Ripple. The early days of Stellar and how it works nowĬreated in 2014, Stellar is a product of the Stellar Development Foundation, and initially, it wasn’t about the cryptocurrency itself. When it comes to the time that it takes for one Bitcoin transaction to be processed, XLM can make up to 200 transactions in the same amount of time. Moreover, if we compare XLM to Bitcoin, we’ll find another reason to pay attention to Stellar. Stellar cryptocurrency, so-called XLM, is up 75% since the beginning of 2020 and continues to rocket higher which makes it a good investment. In this article, we’ll reveal the hidden history of Stellar Lumens. What is it? And when was it created? Why do we need to learn more about this crypto? Cryptocurrency and blockchain regularly make headlines, but what do we really know about crypto? While we all heard a thing or two about Bitcoin, there are various types of cryptocurrency we should know about. Today, we’ll talk about Stellar Lumens (XLM).
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