Stellar (XLM) is a project founded by Joyce Kim and Jed McCaleb in 2014. Emerging as an alternative to international asset transfers, Stellar is a payment system that offers low costs and fast transaction times. Its main purpose is to facilitate interbank asset transfers. In this article, the basic features and advantages of Stellar will be discussed. #XLM #Stellar
Stellar: Fast and Cheap Asset Transfers:
International asset transfers are usually carried out through banks and can be cumbersome in terms of both time and expense. Stellar is designed to solve this problem as an open source payment system using distributed ledger technology. Transaction fees on the Stellar blockchain are very low (like 0.00001 XLM) and transfer times are completed in a very short time.
Stellar Consensus Algorithm:
Stellar uses the Stellar Consensus Algorithm, which is defined by four main features. These features can be listed as decentralized control mechanism, low latency, flexible trust and asymptotic security. Thanks to this algorithm, anyone on the Stellar blockchain can participate in transactions and transactions are cheaply confirmed within a few seconds. #BinanceTournament
Token Generation and Application Publishing:
The Stellar blockchain provides an infrastructure suitable for token generation and application publishing. Thanks to this feature, developers can create their own tokens on Stellar and publish their applications on the blockchain. This makes Stellar a broader ecosystem and allows the project to grow.
Founders and Development of Stellar:
The Stellar project was founded in 2014 by Jed McCaleb and Joyce Kim. Joyce Kim is also a lawyer, and after the disagreements she had in the Ripple project, she laid the foundations of the Stellar project with Jed. A year later, the Stellar blockchain and the project's main cryptocurrency, the XLM coin, were launched. Today, the project managed by the Stellar Development Foundation aims to accelerate the flow of money in the world and increase participation.
Stellar's Original Design and Future Goals:
Jed McCaleb, CTO of Stellar, states that the basis of the original design of the project is the ability to operate fiat currencies and other forms of value in parallel with each other and with crypto assets. Stellar aims to have a wider use in international money transfers and provide greater access to financial systems in the future. #Binance
In summary:
Stellar (XLM) is a payment system developed for fast and cheap international asset transfers. Thanks to distributed ledger technology and low transaction fees, Stellar aims to solve the time and cost problems in interbank asset transfers. With features such as token generation and application publishing, Stellar continues to grow and aims to facilitate money transfers around the world. #btc $XLM $BTC $ETH
This article is for informational purposes only and is not a recommendation for personal investment decisions.
