Stellar
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- r/stellar
- Price analysis 9/22: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATICCointelegraph.com News – 1 hour agoBitcoin and the major altcoins are down from their weekly highs, but the bulls are trying to form a higher bottom, indicating buying on dips.…
- Bybit will suspend services in UK following financial regulator’s ‘final warning’Cointelegraph.com News – 2 hours agoHeadquartered in Dubai, crypto exchange Bybit said it will suspend services to residents of the United Kingdom starting in October due to “regulatory changes.” Dubai-headquartered…
- Bitcoin fails to recoup post-Fed losses as $20K BTC price returns to radarCointelegraph.com News – 3 hours agoBitcoin is a bargain for some at current levels, but downside BTC price predictions remain firmly on the agenda. Bitcoin (BTC) circled lower after the…
- Crypto investment firm CoinShares opens hedge fund division for US investorsCointelegraph.com News – 5 hours agoCoinShares’ subsidiary and broker-dealer registered with FINRA will be conducting marketing activities for the new hedge fund division in the United States. Major European cryptocurrency…
- Stablecoin exodus: Why are investors fleeing crypto’s safe haven?Cointelegraph.com News – 5 hours agoStablecoins have seen a 17-month decline as investors move to traditional assets. What needs to happen for the exodus to stop? In a year filled…
What is Stellar?
Stellar is a public blockchain platform that uses the Stellar consensus protocol (SCP). The node that finds next valid block is chosen by federated byzantine agreement. This makes the blockchain centralized permission based, as opposed to decentralized blockchains like Bitcoin or Ethereum. Stellar is a community driven open source project launched in November 2014 and written on C++. It is maintained and supervised by non-profit organisation Stellar.org.
The main purpose of creating this ockchain was to expands access to low-cost financial services. Stellar operates with its own token Lumen, supply of which increases a fixed rate of 1% a year. Main difference from Bitcoin is that it is based on the SCP consensus algorithm rather than mining, which means transactions are being confirmed within 2-7 seconds. Stellar has an SDKs that allows users to connect to the blockchain with external software written in Java, Golang, JavaScript, C#, Ruby, Python, Scala, iOS or any other software using REST API. Each transaction has a cost of 100 Stroops (0.00001 Lumens).
Stellar is mainly used by Money transfer companies like Tempo, Eurochange and TransferTo and mobile financial services providers like Coins.ph.