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Review on Stellar by Sophie Brauer
The price for Lumens is growing up hour by hour. It seems to be a great…
The price for Lumens is growing up hour by hour. It seems to be a great network to invest in. You can buy the cryptocurrency anywhere on the marketplace. The Stellar Lumens assures users that is a strong platform with unique facilities for online payment services.
Pros
- You can become the lucky user of the Lumens’ give away. The Stellar Lumens network gave away already around 1.7 trillion lumens for free. They assure users that such a process is helping the network to grow bigger every year; The transactions are proceeded with a high speed; The Stellar Lumens network facilitates multi-currency transactions. The token XLM can be traded on every marketplace with all existing cryptocurrencies.
Cons
- Transaction charges on Stellar are 100 Stroops per operation. So if a transaction requires 3 operations the cost would be 300 Stroops. On the Stellar Forum, they say that 1 transaction-operation cost 100 Stroops = 0.00001 XLM. So is 1 Stroop = to 0.0000001 XLM or is it 0.00001 XLM. This is not clear on Stellar.org. So if the transaction cost is 0.00001 XLM x 100 = 0.001 XLM x a minimum of 2 operations = 0.002 XLM = $0.0006 or 6/100 of a US penny. This may seem like a small number, but with my business model an average transaction value is $0.50 USD and if Lumen went from $0.20 to $20.00 the cost would be $0.06 per transaction and that would be expensive for very small transactions. This is why I ask the community whether 1 Stroop is equal to 0.0000001 x XLM or whether it is 0.00001 x XLM?
