The Intro to Stellar Lumens (XLM): My introduction to the world of Crypto, Dapps and the Blockchain - Part 1.
The world changed for me when I started using the Brave Browser and started to earn my first crypto token called Basic Attention Token. After that, I wanted to learn more about the blockchain technology & cryptocurrencies. I always wanted to know if there is an alternative economic system where we could solve most of the problems created by our current fiat-currency system. When I first heard about Bitcoin, I ignored it. I thought a new digital currency without any government intervention could not survive. I did not understand the blockchain technology that powers the cryptocurrency world. Most of us will never understand the world of blockchain or crypto unless we could use it in our daily lives. For me, that experience was when I started using the Brave Browser and started earning my first crypto tokens. I used this token to tip the Khan Academy, which needed donations to manage the surge in traffic recently. It felt good to support your favorite creators by tipping them crypto-token, that can be converted to real money. That experience made me a convert to the world of crypto and blockchain technology.
Current Bitcoin Value - Click Here
The coronavirus lockdown gave me all the time I needed to know more about crypto's and the blockchain. The first most popular crypto is Bitcoin. I did some research and found out that Bitcoin consumes more energy in the mining process, and it takes more time to complete a transaction. The blockchain is nothing but a ledger of all historical and current transactions. Multiple computers compete to complete the transaction, which is called mining. They provide the computing power to complete the transaction, and they get rewarded with Bitcoin. Today the computing power required to complete the transaction has increased drastically. There are large server farms set up in countries with a low price of electricity, and they consume a lot of energy in the mining process. So, I didn't want to get involved in a crypto that is hurtful to the environment.
Current Ethereum Value - Click Here
The second most popular crypto is Ethereum. Ethereum power's most of the decentralized applications (DAPP's). Basic Attention Token, which is Brave Browser's native token is an ERC20 Ethereum protocol token. It looked like I found a winner to get behind and start my crypto journey. But then I found out that Ethereum is not that fast when you compare it with the transaction speed of Visa or Mastercard. It is also not free to transact on Ethereum. As much as I love Ethereum and Basic Attention Token, it is not an alternative to the current fiat- currency and current digital payments system.
Current Stellar Lumens Value - Click Here
I came across a project called Stellar, which has its native crypto coin called Lumens. Stellar is a project made for financial transactions. The transaction speed on Stellar is one of the fastest, and the transaction fee is one of the lowest (per-transaction fee is 0.00001 lumen).
Compare Bitcoin, Ethereum and Stellar - Click Here
Read my next post to find out why Stellar Lumens has all the potential to become the payment system of the future powered by blockchain.
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