Thinking of investing on cryptocurrency? With the Philippines’ leading crypto exchange platform, PDAX, announcing 5 new addition of tokens, there’s more for you to grab and keep an eye on, whether you are a crypto enthusiast, casual, or a beginner.
The notably exciting part is that PDAX is now offering lumen (XLM), the best-performing coin alternative to bitcoin developed by Stellar Development Foundation and among altcoiners’ favorites. XLM is best-performing simply because it’s designed to be convenient and affordable for everyone. And by everyone, that covers people all over the world.
Simply put, XLM is token created to be universally-accessible, thanks to its cross-border and cross-currency capabilities all the while being fast and cheap as possible for ordinary people and businesses.
Compared to traditional remittance methods, sending money with XLM is smooth as butter. Pretty much anyone worldwide can use XLM to transfer money abroad without hurting their wallets, and those who don’t have a bank account. Thus, it’s also ideal for several high profile companies and institutions for their backend payments processing.
Unlike other blockchains relying on algorithms that either uses up a lot of computing power or becoming too centralized for their own good, Stellar uses the Stellar Consensus Protocol (SCP) on XLM. SCP employs a system of “flexible trust,” wherein the network is based on a set of trusted validators deemed large enough to arrive at a consensus or “quorum” at any particular time.
No, SCP doesn’t provide the easy way out. Rather, it uses a majority-based consensus and the system having to reach for specific nodes considered “important” before the transaction is settled. Now to determine what nodes are deemed “important” will depend on users, where they have the freedom to choose any combinations of validators that they see fit to approve transactions. In this way, it ensures that different parties are kept “honest,” considering they have signaled their vested interest in each others’ reputation. Ergo, Stellar’s autonomous and harmonious system provides XLM stability in more ways than one.
Finally being released this month, you can now explore XLM on PDAX available on Android and iOS mobile devices.
If you want to learn more about PDAX and other tokens they offer, you can also visit its official website at https://pdax.ph.
Disclaimer: this article is not intended to be an investment advice. Any person interested to invest in crypto should first and foremost learn about crypto and how it works.