Stellar is an open-source, decentralized blockchain network designed for fast, low-cost cross-border payments and asset transfers. It connects financial systems worldwide, enabling transactions between any currency pair.
Description: Stellar was launched in 2014 by Jed McCaleb and Joyce Kim to facilitate cross-border payments and asset tokenization. The network uses a consensus protocol called Stellar Consensus Protocol (SCP) for fast and secure transactions. Its native asset, Lumens (XLM), serves as a bridge currency and anti-spam mechanism. Stellar aims to create an inclusive financial system by connecting banks, payment systems, and individuals. It supports multi-currency transactions and smart contracts through its built-in decentralized exchange. Stellar has partnerships with organizations like IBM and MoneyGram, and is used by various financial institutions for remittances and micropayments.
