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Stroop

Stroop Key Points

  • Stroop is a unit of measurement for transaction fees and operations in the Stellar network.
  • It is the smallest unit of Stellar’s native cryptocurrency, the Lumen (XLM).
  • Stroop acts as a spam filter, preventing malicious actors from overwhelming the network with transactions.

Stroop Definition

A Stroop is the smallest fraction of a Lumen (XLM), the native cryptocurrency of the Stellar network. It is used as a measure for transaction fees and operations within the Stellar blockchain network.

What is Stroop?

Stroop is a unit of digital currency used in the Stellar network, similar to how a satoshi is the smallest unit of Bitcoin.
It is named after Johannes Stroop, a Dutch scientist famous for the Stroop effect in psychology.
The main purpose of Stroop is to act as a measure for transaction fees in the Stellar network.

Who Uses Stroop?

Stroop is used by anyone who engages in transactions within the Stellar network.
This includes individuals, businesses, and developers who want to leverage the Stellar blockchain for its speed, scalability, and low cost.

When is Stroop Used?

Stroop is used whenever a transaction is made on the Stellar network.
This includes sending Lumens (XLM) from one address to another, issuing and managing tokens on Stellar, and executing smart contracts.

Where is Stroop Used?

Stroop is used exclusively within the Stellar network, a decentralized, open-source blockchain platform for digital currency transactions.
It is not used or recognized in any other cryptocurrency or blockchain network.

Why is Stroop Important?

Stroop is important as it allows the Stellar network to maintain low transaction fees, making it accessible and cost-effective for users.
By requiring a small fee for every transaction (measured in Stroops), the network can also prevent spam and malicious attacks, effectively maintaining the network’s stability and security.

How is Stroop Used?

When a transaction is made on the Stellar network, a small fee is required, which is measured in Stroops.
This fee is automatically deducted from the sender’s account balance.
The minimum fee for a transaction is currently set at 100 Stroops, which is equivalent to 0.00001 Lumens.

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