Stellar

About Stellar

Stellar is an open-source, distributed payments infrastructure.

It is a platform that connects banks, payment systems, and people to facilitate low-cost, cross-border transactions. Stellar’s native asset is called Lumens (XLM). The Stellar network enables users to send and receive payments in any currency, including fiat currencies such as the US dollar and Euro, as well as digital assets such as Bitcoin and Ethereum.

The Stellar network is powered by a consensus algorithm that allows it to process transactions quickly and securely. Transactions are validated by a decentralized network of computers running the Stellar software. This means that the network is secure from tampering or manipulation by any single entity.

The Stellar protocol also supports smart contracts, which allow developers to create applications on top of the network. These applications can be used for a variety of purposes such as issuing tokens, creating decentralized exchanges, or even building decentralized autonomous organizations (DAOs). Stellar also provides tools for developers to build applications on its platform.

These tools include an API library, SDKs for various programming languages, and a command line interface (CLI). Additionally, Stellar has partnered with several companies to provide additional services such as identity verification and compliance solutions. Overall, Stellar is an open-source platform designed to make it easier for people and businesses to send money across borders quickly and securely.

It uses blockchain technology to facilitate low-cost transactions while providing users with access to a wide range of financial services.