Stellar is a blockchain-based platform aimed at improving the efficiency and accessibility of cross-border payments and digital asset transfers. Founded by Jed McCaleb in 2014, Stellar enables quick and cost-effective transactions between different currencies, making it particularly useful for remittances and micropayments. The platform's native cryptocurrency, Lumens (XLM), serves multiple purposes, including preventing spam transactions and facilitating multi-currency transactions within the Stellar network. Stellar's consensus protocol, known as the Stellar Consensus Protocol (SCP), ensures decentralized control, low latency, and flexible trust configurations. By partnering with financial institutions and leveraging its open-source network, Stellar seeks to bridge the gap between traditional finance and blockchain technology, fostering a more inclusive global financial system.
