Lumen

Lumen
Symbol XLM
Established 01.08.2014
Website URL Link
Block explorer Link
Off. announcement​ Link
Founder Jed McCaleb
Algorithm Transaction fee
Protocol POW
Reviews 0 / 0

Lumens have been on the market for about two years by now. They are widely used on the financial platform known as Stellar. The platform allows users from any corner of the world to perform instant money transfers with almost zero fees. It does not matter what currency user has as it can be easily converted during the transaction.

To attract more users to the platform and spread the financial services around the globe the first 50 billion lumens were distributed via the direct sign-up program.

You can sign up on the platform using your Facebook account. Right after registration you can use all the features of the platform. It takes just a couple of seconds to resolve the transaction on the Stellar network. Users can get lumens on various exchangers online, on lumens auctions or via giveaways. Lumens are used on the Stellar platform to cover the transaction fees. As the fees are generally extremely low, only one lumen can generally cover about 100000 transactions.

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