Stellar is a blockchain-based platform designed to facilitate fast, low-cost cross-border transactions and enable the issuance and transfer of digital assets. It aims to provide an inclusive financial infrastructure that connects individuals, institutions, and payment systems globally. Here are the key aspects of Stellar
Stellar operates on a decentralized network of servers, called nodes, which maintain a distributed ledger known as the Stellar blockchain. It utilizes a consensus algorithm called the Stellar Consensus Protocol (SCP) to validate and agree upon transactions in a decentralized manner.
Stellar has witnessed the development of numerous projects and partnerships that leverage its platform. Some notable examples include.
IBM's use of Stellar for cross-border payments and asset tokenization.
Tempo, a remittance service provider, utilizing Stellar to facilitate instant money transfers.
Cowrie Integrated Systems, which uses Stellar for remittance and microfinance solutions in Africa.
Investors interested in Stellar can acquire its native cryptocurrency, XLM, from various cryptocurrency exchanges. Holding XLM allows users to participate in the Stellar network, access its services, and potentially benefit from the platform's growth and adoption.