Lumens were created by the nonprofit company Stellar and initially released in 2014, and has since grown to a near $1 billion dollar global market cap. Stellar’s team consists of various experts within the field, including Stanford professor David Mazieres as the chief scientist of the project. Unlike Bitcoin and Ethereum, Stellar Lumens cannot be mined, and instead, the Stellar network consists of 100 billion “Lumens”, most of which are controlled by Stellar.org. Lumens are used to facilitate transactions across currency. The long-term goal for Lumens is a network that limits the fees of international transactions and currency swaps. In October 2017 IBM partnered with Stellar to utilize its blockchain network for overseas transactions, with the hope of enabling faster and cheaper transactions for consumers. Stellar has also begun to implement ICO’s onto their blockchain platform and launched their first ICO with Smartlands in November 2017. Is this the best cryptocurrency to invest in? Good question. Check out XLM’s score relative to other crypto investment.
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