Stellar (XLM)
Asset ID: 19
Stellar is a decentralized blockchain network launched in 2014, created to bridge global financial systems and enable the issuance and exchange of digital financial assets. It offers a protocol that allows financial institutions and payment providers to perform fast cross-border transactions and currency conversions.
The Stellar network supports international payments and the tokenization of real-world assets. In 2024, it introduced Protocol 20, which added smart contract functionality to the platform. This upgrade aims to expand support for financial applications and enhance access to digital financial services.
XLM, or Lumens, is the native token of the Stellar ecosystem. It is used to cover transaction fees and serves as a bridge asset that facilitates quick currency exchanges in cross-border transfers.
Stellar operates using the Stellar Consensus Protocol (SCP), which follows a Federated Byzantine Agreement model. Instead of relying on mining or staking, it depends on consensus among trusted validator nodes. These validators maintain publicly identifiable reputations, and the system is designed to prevent double spending while ensuring network consistency.
The project was founded in 2014 by Jed McCaleb and Joyce Kim. McCaleb, who previously co-founded Ripple, is currently the Chief Technology Officer of the Stellar Development Foundation.
Network: stellar network
Category: Other
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