Stellar (XLM) is a payment network that supports a broad array of digital payments, ranging from US dollars to crypto coins. It was launched by Stellar Development Foundation in 2014.
It is Stellar’s aim to bring all of the world’s financial systems onto a single network, which would be revolutionary if achieved. Stellar is a limitless and borderless platform engineered to boost financial inclusion by leveraging blockchain technology. While the initial aim of Stellar was to give broader reach to the world’s unbanked, the project’s scope has since broadened.
Find out more about the project and how to invest in it via its token.
What is Stellar?
Stellar is an open-source, decentralized payment platform that supports cross-border transactions between any pair of currencies. From crypto trading to fiat money transfer, Stellar facilitates all types of digital transactions. It is therefore in a position to fundamentally disrupt and disintermediate billion dollar industries such as global remittances.
You can use Stellar to store and move your money. The consensus mechanism used by the network is Stellar Consensus Protocol (SCP), an algorithm that does not rely on a closed system for accurately recording transactions. The Stellar Consensus Protocol (SCP) has four main attributes: decentralized control, minimal delays, flexible trust, and provable security.
Stellar Consensus Protocol (SCP) does not give the majority of decision-making power to a single entity. Instead, anyone can join the process of obtaining consensus. All transactions performed on Stellar are confirmed inexpensively within seconds.
The native token of the network is Stellar Lumens (XLM). Stellar Lumens are the bridge that makes cross-border transactions less expensive. XLM can be traded on many crypto exchanges.