by Rushali 
Cryptocurrency has become the new talk of the town. The world is enjoying the current bullish rally of cryptocurrencies. And I am not talking about bitcoins. Yes, it is true that bitcoin is the oldest and most famous cryptocurrency in the world. But there is more to the story. There is a category of a cryptocurrency called Altcoins that consists of all alternative bitcoin.
The word is made of two words “alt”+ “coin” which is made of alternative coin. Basically, it consists of all the currency other than bitcoin. After the success of bitcoin, it has paved the way for another cryptocurrency as well. Many altcoins have made to fulfill the limitations of the bitcoin. The ecosystem of cryptocurrency has many products, networks, companies roaming in it.
This article will focus on one of the altcoins, Stellar Lumens.
Let’s start with the basics.
Introduction of Stellar Lumens
Stellar is an open-source blockchain network used for payment and transaction of digital currency. It was founded in the year 2014, by Jed McCaleb with Joyce Kim who is a former lawyer with the name of Secret Bitcoin Project for seeing alpha teaser. Then officially launch in 2015. In Stellar, the investor can create, send, pay and trade digital currency in all forms of currencies like USD, INR, AUD, etc. The main objective of the formation of Stellar is to unite all the financial systems to work on a unified platform. It is a decentralized system that enables users to trade efficiently in any cryptocurrency.
Stellar has its own native digital currency called the Lumen. The Stellar Development Foundation guides support and direct all the developments and growth of stellar technology.
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Objectives of Stellar
The stellar network has three main objectives and that are:
To boost and support the security and scalability of the network. They do this by increasing Stellar’s stakeholders and greater system participation, by assuring its scalability to handle the increased volume from new use issues, and by building tools that will simplify the development for asset issuers, cross-border payment wallets, and securitized asset platforms.
Establishing the stellar network as a trusted and well-known blockchain network. For that, they do marketing, promoting, and branding stellar and its uses. And creating documents like Standard Operating Procedures (SOP) to make construction on Stellar Lumens more independent; by engaging with policymakers, regulators, and leaders to form a strong and transparent network.
Making Stellar viable will enable cross-border payments and securitized assets by developing a single, simplified and effortless user interface for a cross-border payment wallet.
Advantages of Stellar
- An open and interoperable currency source network.
- XLM believes in transparency and the privacy of users.
- A fast, efficient platform for users to trade digital currency.
- An unrestricted financial infrastructure system.
- Peer-to-peer tokens can be traded on the Stellar platform.
- Users can issue their own assets on this Stellar Lumens.
- XLM also allows its users to transform the currency platform as soon as it is sent on the Stellar Lumens grid.
How Stellar lumens works?
It works on an algorithm called Stellar Consensus Protocol that is a unique algorithm that facilitates the smooth functioning of the network. Just like bitcoin in this also everyone can set up a verification node or server on the networks with help of its backbone Stellar Core which actually does the verification using the Stellar Consensus Protocol (SCP).
Also Read : Bitcoin price prediction
Future Prediction
Stellar lumen is traded with the symbol of XLM on the platforms. It was first launched in the year 2014 and since then it is included in the top 20 cryptocurrencies around the world. At the time of its launch, its price was $0.003 and then it performed very bad its price slipped to $0.001. Then in early 2018, it touched its all-time high of $0.94. But again it entered a bearish phase and its price fell around 90%. As compared to previous years it has performed much better in the year 2020. Experts believe that the currency has seen many ups and downs still it has managed to perform average so it will see a bull run in the future.
- XLM Price prediction for the year 2021
It is predicted that it will touch $0.075. And also reach a high of $0.080 by the end of the year. On the downside, it can touch $0.065.
- XLM Price prediction for the year 2022
The price of the Stellar can touch a high of $0.12. On the downside, it can reach $0.09. Normally it would trade around $0.104.
- XLM Price prediction for the year 2023
It is predicted that the currency will see a bull run this year and would trade around $0.12. High would be $0.162 and low would be $0.11.
- XLM Price prediction for the year 2024
It can see a short-term correction at the starting of the year and the price would be $0.14. The High would be 0.17.
- XLM Price prediction for the year 2025
After 5 years it is expected that the price of stellar can reach $0.18. On the downside, it can touch $0.16.
We can conclude that this cryptocurrency has seen many ups and downs but in the long-term, it will give you great returns as its technology is in demand.
