Stellar Lumens Information
Information about Stellar Lumens
All of the innovative features of a shared public ledger on a distributed database, which is however referred to as block-chain- technology are offered by stellar networks.
The name of stellar networks built in currency is lumen.
These are the native asset of the stellar network; that is, the lumens are built into the network.
One lumen is a unit of digital currency.
Origin of lumen:
Nonetheless, In 2014, the stellar cryptocurrency network launched with 100 billion stellar, the original name of the network’s native asset.
Although, in 2015,an upgraded network was launched,in which the name of the native asset changed from “stellar” to “ lumen“ to distinguish it from
- The stellar network itself.
- org, the non profit organization that contributes to development of the network.
XLM is shorthand for lumen.
Despite, the technical term for these shorthand codes is” ISO 4217”.
Purpose of lumens:
- Lumens play a small anti-spam role:
Each transaction has a minor fee- 0.00001 lumens associated with it. This fee prevents users with malicious intentions from flooding the network( DoS attack). However, Lumens work as a security token, mitigating DoS attacks that attempt to generate large number of transactions or consume large amount of space in the ledger
- Lumens may facilitate multi-currency transactions.
There is a basic fee, consider to as a “base fee”, which is correlate with each operation in a transaction.
The fee functions as a deterrent. Though nominal, it discourages users with malicious intentions from flooding the network.