How secure is Stellar?

Stellar is a highly secure and reliable platform for sending and receiving payments.

It uses a distributed ledger technology (DLT) to store data, which means that the data is stored across multiple computers in a network, making it virtually impossible to hack or tamper with. Additionally, Stellar has implemented several security measures to protect its users’ funds. First, Stellar uses a consensus protocol called the Stellar Consensus Protocol (SCP).

This protocol ensures that all transactions are valid and secure by having each node in the network agree on the validity of each transaction before it is added to the ledger. This makes it difficult for malicious actors to manipulate or reverse transactions. Second, Stellar also uses multi-signature accounts which require multiple signatures from different parties before a transaction can be completed.

This adds an extra layer of security as it requires more than one person to approve a transaction before it can be completed. Finally, Stellar also implements two-factor authentication (2FA) for all accounts. This requires users to enter both their username and password as well as an additional code sent via SMS or email before they can access their account.

This makes it much harder for hackers to gain access to user accounts and steal funds. Overall, Stellar is one of the most secure platforms available for sending and receiving payments due to its use of DLT, consensus protocols, multi-signature accounts, and two-factor authentication.