Stellar Lumens (XLM) is an open-source decentralized network. The Stellar Lumens (XLM) project aims to become a platform that connects banks, payment systems and people in order to move money faster, more reliably and cheaper. Stellar is a non-profit organization and was initially based on the Ripple protocol.
In 2014, Stellar was started by one of the founders of Ripple. This is Jed McCaleb. This again explains the agreement with Ripple. McCaleb is a name that is well known. He is next to a founder of Ripple also the founder of the first Bitcoin trading platform Mt.Gox.
By publishing a white paper and putting its own blockchain online in 2015, Stellar became a stand-alone network. The headquarters of Stellar is located in America.
The main competitor for Stellar Lumens is Ripple. Both coins focus on cross-border payments. In addition, there is the ERC-20 token OmiseGo, this project also focuses on payments and is therefore a direct competitor.
The maximum XLM supply is 104 billion. The Stellar Development Foundation has control over the XLM. Of this 104 billion XLM it is intended that 95 billion XLM be distributed to the public. The remaining 5 billion is intended to cover operating costs. The Stellar Lumens distribution is as follows: 50 billion XLM distribution through the Direct Sign-up Program (50%) 25 billion XLM distribution through the Partnership Program (25%) 20 billion XLM distribution through the Bitcoin Program (20%) 5 billion XLM coverage of operating costs (5%)