What Is Stellar (XLM)?

Jason Matt Lukis, MBA, MS
2 min readAug 19, 2021
Image Credit: stellar.org

Stellar is an open-source network for currencies and payments and allows money to be moved and stored. It was launched in July of 2014. Stellar makes it possible to send and exchange digital representations of all forms of money — dollars, euros, bitcoin, pretty much any currency.

Image Credit: Karolina Grabowska

It’s designed so that the world’s financial system can work together on a single network. Stellar’s native tokens are called lumens and they serve as a bridge that makes it less expensive to exchange money across the globe.

Image Credit: bitcoinist

Stellar does not have a single owner and is owned by the public. The software runs across a decentralized, open network and handles millions of transactions each day.

The Stellar network was created in 2014 and was developed by two people: Joyce Kim and Jed McCaleb. Jed McCaleb is also known to have co-founded Ripple XRP. Jed McCaleb is an American programmer, entrepreneur, and philanthropist who was born in Arkansas.

Like Bitcoin and Ethereum, Stellar relies on blockchain to keep the network in sync, but the end-user experience is more like cash — Stellar is much faster, cheaper, and more energy-efficient than typical blockchain-based systems.

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  • The contents of this article are for informational purposes only and do not constitute financial, accounting, or legal advice.



Jason Matt Lukis, MBA, MS

MBA in Management from NSU | MSci. in International Real Estate from FlU | Graduate Student in Social Media at UF