What is the meaning of the lumens symbol in the cryptocurrency world?

3 answers

• Amelie KnapeJan 14, 2024 · 2 years ago
  Lumens, also known as XLM, is the native cryptocurrency of the Stellar network. It serves as a bridge currency, facilitating the exchange of different assets on the Stellar network. Lumens are used to pay for transaction fees and prevent spam on the network. They also play a role in maintaining the security and integrity of the Stellar network through a consensus mechanism called the Stellar Consensus Protocol (SCP). In addition, lumens can be used for remittances and cross-border payments, enabling fast and low-cost transactions across different currencies and financial institutions.
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• Nadr_May 05, 2022 · 3 years ago
  The lumens symbol in the cryptocurrency world represents the digital asset XLM, which is the native cryptocurrency of the Stellar network. It is used as a medium of exchange and a bridge currency for facilitating transactions on the Stellar network. Lumens have a fixed supply of 100 billion and are distributed through various means, including airdrops and partnerships. They have gained popularity for their fast transaction speeds and low fees, making them suitable for cross-border payments and remittances.
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• Jehovany MartinezJun 03, 2021 · 4 years ago
  In the cryptocurrency world, the lumens symbol refers to the digital asset XLM, which is the native cryptocurrency of the Stellar network. Lumens have multiple uses, including facilitating transactions, preventing spam, and enabling cross-border payments. They are often used as a bridge currency to convert between different assets on the Stellar network. Lumens have gained attention for their scalability and low transaction fees, making them a popular choice for financial institutions and individuals looking for fast and cost-effective transactions.
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