Bittime - Can Stellar Lumens be mined? Follow the explanation about how to mine Stellar Lumens (XLM) and how to easily get XLM in this article.
Stellar Lumens (XLM) is a token that supports the Stellar platform. This network is known for its speed and low fees in cross-border transactions.
However, the question that often arises is whether Stellar Lumens (XLM) can be mined? In this article, we will discuss in depth about cara mining Stellar Lumens (XLM), as well as alternative ways to obtain these tokens.
What is Stellar Lumens (XLM)?
Stellar is an open-source platform designed to simplify and speed up transactions between currencies around the world. This blockchain network was built with the aim of connecting banks, payment systems and individuals.
Stellar enables faster, cheaper and more secure cross-border transactions. XLM is the native currency of this network. The coins are used to facilitate cross-border transactions, while preventing potential attacks on the network.
Stellar has the advantage of the capacity to process more than 1,000 transactions per second, with transaction confirmation taking only 3-5 seconds. Transaction fees are very low, less than $0.00001 (approximately IDR 0.16), which makes it an ideal solution for global payment needs.
Balso: Stellar (XLM) Price Prediction: Are you ready to escape the Descending Triangle trap?
Is it possible to mine Stellar Lumens (XLM)?
Unlike Bitcoin and many other cryptocurrencies that use Proof of Work (PoW) to confirm transactions, Stellar does not use this method. Instead, Stellar adopted Stellar Consensus Protocol (SCP) which is more efficient and energy saving.
With this system, Stellar does not require a mining process like Bitcoin does.
Most cryptocurrencies that use PoW require mining to validate transactions and generate new coins. However, Stellar Lumens (XLM) cannot be mined as all 100 billion XLM have already been produced at the time of the launch of the Stellar network.
In other words, no new XLM will be added to the network after the initial distribution.
Cara Mining Stellar Lumens (XLM)
Because Stellar Lumens (XLM) does not use traditional mining mechanisms, mining XLM is not possible. Unlike Bitcoin which can be mined using special hardware such as ASICs, Stellar Lumens are already fully issued at the start of the network launch.
Initially, 100 billion Lumens (XLM) were created and distributed to various parties in different ways, including distribution to registered users through invitations, donations to partners, and to Bitcoin and Ripple holders at certain times.
Additionally, around 30% of the total XLM supply is still on hand Stellar Development Foundation for the purposes of developing and promoting the Stellar network.
Balso: $XLM Price Prediction 2025: Touching $1 (Rp. 16,300) Is a Dream Come True?
How to Get Lumens
Although Stellar Lumens cannot be mined, there are several ways to obtain XLM. Here are some ways you can try:
1. Faucet Stellar Lights (XLM)
One of the easiest ways to get XLM for free is via faucet, which are sites or apps that give away small amounts of cryptocurrency after users complete certain tasks. A number of faucets Popular ones for Stellar Lumens include:
- Althub
- He gasped
- Coinmonster
- Allcoins
- Stellar faucet
2. Airdrops Stellar Lumens (XLM)
Airdrop is another way to get XLM for free. In an airdrop, cryptocurrency projects distribute their tokens to qualified users.
Usually, users are required to participate in certain activities such as following their social media accounts or joining their communities. Some platforms that often hold airdrops for XLM are:
- Airdrops.io
- Earncrypto.com
- AirdropAlert.com
3. Mobile and Online Games
Some online games or mobile applications also offer XLM as a reward. You can try several games that give prizes in the form of XLM, such as:
- PopStellar – Earn XLM
- Stellar AW – XLM Reward
- Cryptocollide.com
4. Buying XLM on a Cryptocurrency Exchange
If you want to get XLM faster, you can buy Lumens via over. You can buy XLM using local currency such as Rupiah (IDR), or other cryptocurrencies such as Tether USD (USDT).
Balso: 6 Ways to Get Stellar Lumens (XLM) Tokens for Free
Conclusion
Although Stellar Lumens (XLM) cannot be mined because the consensus system used does not require a mining process, there are many alternative ways to obtain Lumens.
By using a faucet, airdrop, or even playing games, you can still get XLM for free or in a fun way. If you are interested in fast transactions and low fees between countries, Stellar Lumens is a very attractive choice.
FAQ About Stellar Lumens
Can Stellar Lumens reach $10?
Can XLM reach $10? Yes, XLM has the potential to reach $10, but it is difficult to pinpoint the exact time.
Is Stellar Lumens better than XRP?
The price of XLM is greater than XRP if they have the same market cap because XLM has a lower maximum supply than XRP. XLM has been tested all over the world while XRP is just a nuisance to the mainstream.
Is XLM created by Ripple?
Stellar Lumens is a decentralized platform designed to facilitate international payments and enable the creation of custom financial products. The project was launched in 2014 by Jed McCaleb, co-founder of Ripple, and Joyce Kim, a lawyer and successful entrepreneur.
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Reference
Bitnova, How to mine Stellar Lumens (XML)?, accessed December 19, 2024.
Bitrue, How to Obtain Stellar Lumens (XLM), accessed December 19, 2024.
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