Stellar Lumens (XLM) does not make use of nodes to mine XLM. This is a good factor contributing to its sustainability. There is nothing called rewards for the network participants for validating and stuff like that. They simply started off issuing around 100 billion XLM when they first started. And, they decided they will increase the overall supply by 1% per year for an overall period of 6 years.
Due to strategic and sustainability issues of increasing supply by 1%, they decided not to increase the XLM supplies anymore at a later point in time. The overall supply was decreased from 100 billion XLM to 50 billion to ensure sustainability. For now, 20 billion XLM is under circulation in the market and 30 billion is retained with Ripple to contribute to the growth of the Ripple ecosystem. XLM use case is mainly projected for marketing and development purposes.
Stellar Lumens (XLM) Supported by Revolut
Revolut is an app where it is possible to exchange money without any hidden fees. Users will be able to buy crypto, gold, and trade stocks from $1 and they will be able to manage their money by using the spending analytics. The good thing is that Revolut is permitting the trading and holding of XLM on their platform.
In response Sydney Ifergan, the crypto expert tweeted: “Stellar Lumens (XLM) and other crypto are becoming easy for everyday use with the coming of several supportive platforms and application.”
Crypto is getting simpler every day. The pandemic left people with lot of time to think through the value of money and about what cryptocurrency is and about a myriad of other things related to financial freedom. They are slowly taking on to the idea of crypto for good.
The good thing about Revolut adding Stellar Lumens as the Sixth Crypto is that they have recently updated their terms for crypto, thus providing users with a legal right. The legal right to sell and buy is a good thing. The term legal pronounced with crypto makes it more secure.
According to Finance Magnates, It is important to note that previously Revolut used to hold the ownership rights to the digital assets. However, despite the right being a beneficial one, it is seen that the Revolut customers will be able to transfer the crypto only within the platform’s ecosystem. And, none of them will be able to send their crypto holdings to any external wallet.
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