$XLM
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Here's the detailed information about the cryptocurrency associated with the number 98:
Stellar (XLM)
Overview: Stellar (XLM) is a decentralized, open-source blockchain platform designed to facilitate fast, low-cost cross-border payments. It aims to connect financial institutions and reduce the cost and complexity of international transactions.
Key Features:
Cross-Border Payments: Stellar focuses on enabling fast, low-cost cross-border transactions, aiming to bridge the gap between different currencies and financial systems.
Stellar Consensus Protocol (SCP): Stellar uses SCP, an alternative to Proof of Work (PoW) and Proof of Stake (PoS), to reach consensus. It enables faster transaction finality and low fees.
Integration with Financial Institutions: Stellar works closely with financial institutions, including banks and payment service providers, to create a more inclusive global payment system.
XLM as the Native Token: Stellar's native cryptocurrency, XLM (Lumens), is used to pay transaction fees and facilitate operations within the network.
Use Cases:
Payment Transfers: XLM is used for making cross-border payments between parties in different countries, particularly for remittances.
Tokenization: Stellar enables the creation of custom tokens, which can be used for various applications, such as representing fiat currencies or assets.
Financial Inclusion: Stellar aims to provide financial services to unbanked and underbanked populations by connecting them to the global economy.
Market Position: Stellar is one of the leading blockchain platforms for cross-border payments and is known for its strong partnerships with both financial institutions and cryptocurrency projects. It competes with other blockchain projects like Ripple (XRP) in the payments space.
Challenges:
Regulatory Concerns: Like other financial-focused cryptocurrencies, Stellar faces scrutiny from regulatory bodies, particularly as it works with traditional financial institutions.
