1 Level
5 Review
1 Karma
Review on Stellar by Tri Le
Stellar (XLM) is an open source payment technology with many similarities toβ¦
Stellar (XLM) is an open source payment technology with many similarities to ripple. Like the Ripple, Stellar is a payment technology aimed at connecting banks, payment systems and people, integrating for fast, reliable and virtually no cost.
ο»Ώ
ο»Ώ
Pros
- Stellar focuses on the peer-to-peer market and has seen a number of important partnerships arise, including IBM.
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?
New products
Comments (1)
October 02, 2019
LoL! There are so many maths here, will find it very difficult for anyone to understand! My point in a nutshell is that it is a very fast transaction at a small cost.
