Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.
Stellar is a platform that facilitates cross-border transfer of money through its decentralized blockchain solutions. Its native cryptocurrency, Lumens (XLM), acts as the building block of its financial infrastructure. Stellar caters more towards individuals rather than institutions as it facilitates the transfer of small amounts.
Stellar is being adopted by a lot of users due to its simple and user-friendly interface. It is also pretty fast in enabling cross-border transactions as quickly as within 5 seconds. Like all the blockchains, it is decentralized where nobody has complete control over the network.
Jed McCaleb launched the Stellar system in 2014 along with former lawyer Joyce Kim. It received a seed funding of $3 million from Stripe. McCaleb had earlier co-founded Ripple, another cryptocurrency platform.
Last week, Stellar released the second preview of Soroban, a new smart contracts platform designed for scalability and sensibility. The aim is to build a developer-friendly, sensible and built-to-scale platform.
Only recently, Ethereum transitioned from the proof-of-work (PoS) to proof-of-stake (PoS) consensus mechanism following the Merge. The step underlines the need for cryptocurrencies to move towards eco-friendly methods. In this regard, Stellar is very promising as it has a smaller carbon footprint. Its authentication cycle is also fast, keeping energy use to a minimum.
Acting as a decentralized currency exchange, Stellar helps you track all of your assets with an orderbook. You can sell, buy and manage all of your assets here, with XLM acting as
Read more on ambcrypto.com