Stellar lowers base reserve for creating accounts to 0.5 XLM

Stellar published updates on GitHub about lowering the base reserve to 0.5 XLM what made the cost of creating accounts and orders inexpensive and led to XLM price rise
12 January 2018   1747

The Stellar network stated that it requires small fees on transactions and minimum balances on accounts in order to prevent people from overwhelming the network and to aid in prioritization.

As it was stated on Stellar GitHub, all Stellar accounts should have a minimum balance of lumens and any transaction that would reduce balance to less than the minimum will be rejected with an INSUFFICIENT_BALANCE error.

The minimum balance was calculated using the base reserve, and from january 12 it was lowered to 0.5 XLM. The minimum balance for a basic account is $$2 * [base reserve]$$, and every additional entry costs the base reserve.

Entries include:

  • Trustlines
  • Offers
  • Signers
  • Data entries

For example, an account with 1 trustline and 2 offers would have a minimum balance of $$(2 + 3) * [base reserve] = 2.5 XLM$$.

Stellar GitHub

At the moment of press, these are main market parameters of Stellar:

  • Average price: $0,69
  • Marketcap: $12 355 845 024
  • 24h volume: $478 618 000

Coinbase to List Stellar

As reported, at first, the coin will not be available to residents of the UK and the state of New York
19 March 2019   189

Wallet and mobile applications (for iOS and Android) from leading American cryptocurrency company Coinbase now support Stellar Lumens digital asset (XLM).

Stellar’s cryptocurrency, the Stellar Lumen (XLM), powers the Stellar payment network. Stellar aims to connect banks, payment systems and individuals quickly and reliably. Since its launch in 2014, its vision has been to unite the world’s financial infrastructure so that money can flow quickly and cheaply between banks, businesses, and people. The Internet connected the world’s computers so that information could be shared globally. Stellar aims to do the same for money.

Coinbase Team

The new asset is available to users from most jurisdictions. However, at first, the coin will not be available to residents of the UK and the state of New York.