Stellar is a decentralized payment network designed to facilitate fast, efficient, and low-cost cross-border money transfers. Stellar’s native currency is the Lumen (XLM), which is used as a medium for transactions.
Key Features:
* Transaction Speed: Stellar has a faster transaction processing speed than many other cryptocurrencies.
* Low Cost: The transaction fees on the Stellar network are very low.
* Scalable: Designed to handle high volumes of transactions.
* Remittance Focus: Stellar is primarily focused on facilitating cross-border money transfers.
Uses:
* Money Transfer: Stellar can be used to transfer money between different currencies quickly and at low cost.
* Bill Payment: It can be used to pay bills and online payments.
* Digital Asset Creation: The Stellar platform can be used to create custom digital assets.
