Cryptocurrency wallet provider Blockchain.com has launched full support for altcoin Stellar (XLM), accompanied by a hefty airdrop of $125 million worth of XLM to its user base. The news was announced in an official blog post today, Nov. 6. Blockchain.com pitched the mammoth offering as “the largest airdrop in the history of crypto and likely the largest consumer giveaway ever,” suggesting that airdrops are “a great way to drive decentralization and adoption for new networks.” The firm underscores that the benefit of crypto airdrops for consumers are that they are able to “test, trade, and transact” unfamiliar crypto assets without having to mine or invest first.
Blockchain.com gives the rationale for its choice to launch support for Stellar as being due to the token’s network being “built for scalability,” as well as for its provision of the ability to create custom tokens that represent “real-world or virtual goods and services.”
Prior to adding Stellar support, the Blockchain.com wallet already supported three other cryptocurrencies, Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH).
About Stellar Lumens (XLM): Stellar is a platform that connects banks, payments systems, and people. Integrate to move money quickly, reliably, and at almost no cost. Stellar is based on a consensus algorithm rather than mining. This means transactions confirm in a few seconds.The supply of lumen increases at a fixed rate of 1% a year.Stellar aims to let you transact in your currency of choice (fiat or digital). The hope is that the currency itself will be mostly a behind-the-scenes currency, and that the Stellar network will help provide more liquidity between currencies. One lumen (XLM) is a unit of digital currency, like a bitcoin.Lumens are the native asset of the Stellar network.Native means that lumens are built into the network. Asset is how the network refers to an item of value that is stored on the ledger.One lumen is a unit of digital currency, like a bitcoin.While you can’t hold a lumen in your hand, they are essential to the Stellar network—they contribute to the ability to move money around the world and to conduct transactions between different currencies quickly and securely. The Stellar network offers the innovative features of a shared public ledger on a distributed, global database—often referred to as blockchain technology. The Stellar network’s built-in currency, the lumen, serves two purposes:First, lumens play a small anti-spam role.Lumens are needed for transaction fees and minimum balances on accounts on the Stellar network in order to prevent people from overwhelming the network and to aid in prioritization.Each transaction has a minor fee—0.00001 lumens—associated with it. This fee prevents users with malicious intentions from flooding the network (otherwise known as a DoS attack). Lumens serve as a security measure that mitigates DoS attacks that attempt to generate large numbers of transactions or consume large amounts of space in the ledger.Similarly, the Stellar network requires all accounts to hold a minimum balance of 0.5 lumens. This requirement incentivizes users to declutter the ledger by eliminating abandoned accounts, thereby that ensuring that all accounts are likely to have economic utility on the network.Second, lumens may facilitate multi-currency transactions.Lumens sometimes facilitate trades between pairs of currencies between which there is not a large direct market, acting as a bridge. This function is possible when there is a liquid market between the lumen and each currency involved.
Stellar Lumens (XLM) is the 6th largest cryptocurrency by market cap size. Its market cap is currently $4,967,587,390 and it has a circulating supply of 18,956,699,310 XLM. It's up 7.22% over the past 24 hours and is currently trading at $0.262049
XLM can be bought with fiat dollars, debit and credit cards on cryptocurrency exchanges such as Changelly.com and CEX.io and it can be bought with cryptocurrency on exchanges such as Binance and HitBTC.
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