Tutorial FREQUENTLY ASKED QUESTIONS ABOUT (XLM) LUMENS

[zack69]

hello guys, i'm new ..

still learning here...

anyone can help me how to earn money here ??

thanksss..

Address : GBQ5UIPV2APVXVJNQPFBOUJ6UGXHWOBD36XC26QFWNABRQDZFOJ5E2VH

[coxdevil]

Terima kasih Atas informasinya.. please give stellar GDXAPNIXNOFV457O7IVL37EUCYUSAZLOADL7EFYREXLS4ECIOLW35HPC

[Zain_24]

Quite handy information for the newbies like me.
Thank you ?

[hienhoang88]

It is clear to me about Lumens and how Stellar works with behind-the-scene logic. Many thanks.

[cakrajafa]

wow, so it a bit different coin...
and the amount is static...
i seeeeeeeeeee....

[Rofiqrusmawanto]

thank you broo for your info,,i will the xlm price will stay up

[hienhoang88]

Can I ask one more question guy : How to create a memo for Lumens wallet?

I sign in to Stellar viewer but got no option to set it. And when I carefully considered the documentation, it said that memo is only required for an exchange, for example when we transfer Lumens to Binance, Bittrex, and so on, but if we change from one wallet to other, I suppose that it is optional and could be blank.

Please correct me if I am wrong!

And allow me to ask one more question :

Since I just registered to Stellar community and my Wallet address is generated from public key on Stellar viewer, normally my wallet has nothing in it right now, and I see that it has one little message said that my wallet does not exist in Stellar network yet.

Could I receive the claims for having 10 valuable posts, active for 7 days and have unique avatar? Should I have to deposit to my wallet ?

Could anyone help me to clear this issue? Many thanks for any help.

[asemele]

Thanks For The information , that's explain everythings , Cheers!!

[Vieamie]

Truth is, I'm still confuse here. Alot of different terms, what's and what's not. We need clear info or maybe because I'm new here, who knows?

[Emanuellmee]

A bit confusing but after reading through twice its all falling into place

[Vieamie]

GETTING AND USING LUMENS

Do I need lumens to use the Stellar network?

The Stellar network is free to use. The code is open source, with an Apache license.

If you plan to transact on the live network, you’ll need lumens to cover the base fees for those transactions. By design, transactions on Stellar are very low cost. As of 2016, one lumen will cover 100,000 transactions.

You may choose to purchase lumens as a supporter of the Stellar.org mission.

Lumens are also available for purchase on markets and exchanges (see below).
Also available for FREE from giveaway provided by various Stellar Lumens Giveaway programs  (see below). 

Where can I get lumens?

Lumens are available for purchase on several known markets and exchanges.

Please be aware of the risk associated with all digital currencies, including complete loss of value.

Digital currencies are very innovative but not insured by regulatory bodies such as the FDIC.

Before purchasing lumens, consult the Consumer Advisory brief by the Consumer Protection Finance Board (CPFB) on the potential risks associated with digital currencies.


OR easiest way
you could participate in Stellar Lumens Giveaway programs such as listed in Stellar Promotions Forum.

What is the price of lumens(XLM) ?

Please consult the available exchanges for the latest lumen price.

OR easiest way
you could see the PRICE TICKER as listed in myStellar.org NEWS PORTAL front page 
example= 

What is the base fee? Who profits from those lumens?

There is a nominal fee, referred to as a base fee, associated with each operation in a transaction. The sender of the transaction incurs the fee.

The fee functions as a deterrent: Though nominal, it discourages users with malicious intentions from flooding the network (otherwise known as a DoS attack).

The base fee is currently set to .00001 XLM. The fee will increase if the system suspects an account is submitting transactions with the malicious intent to bring down the network.

No one profits from the base fee. The ledger collects those funds and redistributes them in the process of inflation (see the next question, below).

How does inflation work with lumens? Why is there inflation?

The Stellar network has a built-in, fixed inflation mechanism. New lumens are added to the network at the rate of 1% each year. The network also collects a base fee for each operation in a transaction. The funds from base fees are added to the inflation pool.

As a balancing measure for the ecosystem, anyone who holds lumens can vote on where the funds in this pool go. Each week, the protocol distributes these lumens to any account that gets over .05% of the votes from other accounts on the network. Read more about inflation.

The information explains itsself. Bright side for stellar

[vaheed]

helpfull faq, i hope you try to more about how better start with XLM

an ways im hear and waiting for update.

[Jaybiano]

I honestly see great potential in Stellar. It's gonna be huge.

[vx134]

Stellar sdk is to hard to understand, i had working more than 2 day just to learn them.
i don't know why but documentation wont help much.
Is there any reference to learn it.

[rizbud16]

does lumens have staking coin as other proof of stake coin?
If so, how to do it?

[GreenWhiteGreen]

Hey guys, I'm new here. Can I earn on this site, alot of earning website now

[Jaybiano]

Thank you for this great information, it has been of great help to me and this forum members

[Jaybiano]

Very good information. Thanks for sharing this piece with the members of this forum.

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[your post been Auto-Merged, to prevent spam to abuse the Free XLM promo]

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Quite and insightful and great post. Thank you so much for making this available.

[Jaybiano]

One lumen (XLM) is a unit of digital currency, like a bitcoin.

THE FUNDAMENTALS

What are lumens?

Lumens are the native asset of the Stellar network.

Native means that lumens are built into the network. Asset is how the network refers to an item of value that is stored on the ledger.

One lumen is a unit of digital currency, like a bitcoin.While you can’t hold a lumen in your hand, they are essential to the Stellar network—they contribute to the ability to move money around the world and to conduct transactions between different currencies quickly and securely.

Where did lumens come from?

In 2014 the Stellar network launched with 100 billion stellars, the original name of the network’s native asset.

In 2015, with the launch of the upgraded network, the name of the native asset changed from stellar to lumen to distinguish it from 1) the Stellar network itself and 2) Stellar.org, the nonprofit organization that contributes to development of the network.

Why does the Stellar network need a native asset?

The Stellar network offers all of the innovative features of a shared public ledger on a distributed database—often referred to asblockchain technology. The Stellar network’s built-in currency, the lumen, serves two purposes:

First, lumens play a small anti-spam role.
Each transaction has a minor fee—0.00001 lumens—associated with it. This fee prevents users with malicious intentions from flooding the network (otherwise known as a DoS attack). Lumens work as a security token, mitigating DoS attacks that attempt to generate large numbers of transactions or consume large amounts of space in the ledger.

Similarly, the Stellar network requires all accounts to hold a minimum balance of 20 lumens. This requirement ensures that accounts are authentic, which helps the network maintain a seamless flow of transactions.

Second, lumens may facilitate multi-currency transactions.
Lumens sometimes facilitate trades between pairs of currencies between which there is not a large direct market, acting as a bridge. This function is possible when there is a liquid market between the lumen and each currency involved.

What is XLM?

XLM is shorthand for lumen. Most currencies have 3-letter codes (USD, EUR, AUD, BTC) as an international standard.

The technical term for these shorthand codes is ISO 4217. Learn more about ISO codes.

Very good one. Thanks for sharing this.

[Aji setyawan]

Satu lumen (XLM) adalah unit mata uang digital, seperti bitcoin.

THE FUNDAMENTALS

Apa lumens

Lumens adalah  aset asli  jaringan Stellar.

Asli  berarti lumens dibangun ke dalam jaringan. Aset  adalah bagaimana jaringan mengacu pada item nilai yang tersimpan di buku besar.

Satu lumen adalah unit mata uang digital, seperti bitcoin. Meskipun Anda tidak dapat memegang lumen di tangan Anda, mereka sangat penting bagi jaringan Stellar - mereka berkontribusi pada kemampuan untuk memindahkan uang ke seluruh dunia dan melakukan transaksi antara mata uang yang berbeda dengan cepat dan aman.

Darimana lumens berasal?

Pada tahun 2014 jaringan Stellar diluncurkan dengan 100 miliar  stellars , nama asli dari aset asli jaringan.

Pada tahun 2015, dengan diluncurkannya jaringan yang diupgrade, nama aset asli berubah dari  bintang  ke  lumen  untuk membedakannya dari 1) jaringan Stellar itu sendiri dan 2) Stellar.org, organisasi nirlaba yang berkontribusi terhadap pengembangan jaringan.

Mengapa jaringan Stellar membutuhkan aset asli?

Jaringan Stellar menawarkan semua fitur inovatif dari buku besar bersama di database terdistribusi-sering disebut sebagai  teknologi blockchain . Mata uang built-in Stellar, lumen, melayani dua tujuan:

Pertama, lumens memainkan peran anti-spam kecil.
Setiap transaksi memiliki biaya minor-0.00001 lumens-terkait dengannya. Biaya ini mencegah pengguna dengan niat jahat untuk membanjiri jaringan (atau dikenal sebagai  serangan DoS ). Lumens bekerja sebagai token keamanan, mengurangi serangan DoS yang berusaha menghasilkan sejumlah besar transaksi atau mengkonsumsi sejumlah besar ruang di buku besar.

Demikian pula, jaringan Stellar mengharuskan semua akun untuk menahan saldo minimum 20 lumens. Persyaratan ini memastikan bahwa akun itu asli, yang membantu jaringan mempertahankan arus transaksi tanpa batas.

Kedua, lumens dapat memfasilitasi transaksi multi-mata uang.
Lumens terkadang memfasilitasi perdagangan antar pasang mata uang antara yang tidak ada pasar langsung besar, bertindak sebagai jembatan. Fungsi ini dimungkinkan bila ada pasar cair antara lumen dan setiap mata uang yang terlibat.

Apa itu XLM?

XLM  adalah singkatan dari  lumen . Sebagian besar mata uang memiliki kode 3 huruf (USD, EUR, AUD, BTC) sebagai standar internasional.

Istilah teknis untuk kode singkatan ini adalah  ISO 4217 . Pelajari lebih lanjut tentang kode ISO .