Stellar tokens are highly configurable. Those who have compliance needs can have any of their token holders pass the KYC program. Other requirements like enforcement of Reg D ownership requirements can be mandated. Control access to tokens through multi-signature accounts by creating time-locked escrows for any account or asset can be made possible.
Tokenization is an important happening in the network. The most powerful feature in Stellar is about the ability to issue and redeem assets. The transaction times are near instant and for literally negligible costs. It is very simple to get started in just a few steps. Going through the technical docs gets things started.
Stellar decided to start off with the Lumens as they did not want to use any specific National Currency. All the transactions in the Stellar takes place with the Lumens. The Lumens are used to maintain the minimum balance requirements and also to pay the transaction fees.
The good thing about Lumens is that it makes it easy for money to move between the users. Since everyone who are transacting on Lumens will need it, it is a good medium of exchange between illiquid assets.
Of note, Lumens are not mined. They created them all when Stellar came live. Lumens are on sale on many exchanges. Some of them on the Stellar Network also trade it directly. Lumens will forever have utility in the network. Users tend to make use of a hardware of digital wallet to use and store Lumens.
Sydney Ifergan, the crypto expert tweeted: “Stellar Lumens (XLM) is good because it allows the user to send one type of currency and have the recipient receive another as they need. All this in a single atomic transaction.”
The Path pay is hailed to be a powerful innovation in international payments. The good thing is users are able to transact in the currency they like and they receive the currency they want.
Stellar Lumens (XLM) Powerful and Connect the Stellar Network
Stellar Anchors are powerful as they are able to connect the Stellar network to the traditional banking rails in a way that world’s currencies will be able to interoperate on a single and seamless platform. They also provide access to the local on and off ramps in a way to empower the apps and services which are built and established on Stellar to provide borderless access to their financial infrastructure. They have done good to a highly fragmented payment landscape. They are trying to unify payment scheme.
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