Stellar
The Stellar network is an open source, distributed, and community owned network used to facilitate cross-asset transfers of value. Stellar aims to help facilitate cross-asset transfer of value at a fraction of a penny while aiming to be an open financial system that gives people of all income levels access to low-cost financial services. Stellar can handle exchanges between fiat-based currencies and between cryptocurrencies. Stellar.org, the organization that supports Stellar, is centralized like XRP and meant to handle cross platform transactions and micro transactions like XRP. However, unlike Ripple, Stellar.org is non-profit and their platform itself is open source and decentralized.
Stellar was founded by Jed McCaleb in 2014. Jed McCaleb is also the founder of Mt. Gox and co-founder of Ripple, launched the network system Stellar with former lawyer Joyce Kim. Stellar is also a payment technology that aims to connect financial institutions and drastically reduce the cost and time required for cross-border transfers. In fact, both payment networks used the same protocol initially.
Distributed Exchange
Through the use of its intermediary currency Lumens (XLM), a user can send any currency that they own to anyone else in a different currency.
For instance, if Joe wanted to send USD to Mary using her EUR, an offer is submitted to the distributed exchange selling USD for EUR. This submitted offer forms is known as an order book. The network will use the order book to find the best exchange rate for the transaction in-order to minimize the fee paid by a user.
This multi-currency transaction is possible because of "Anchors". Anchors are trusted entities that hold people’s deposits and can issue credit. In essence, Anchors serves as the bridge between different currencies and the Stellar network.
Lumens (XLM)
Lumens are the native asset (digital currency) that exist on the Stellar network that helps to facilitate multi-currency transactions and prevent spams. For multi-currency transactions, XLM is the digital intermediary that allows for such a transaction to occur at a low cost.
In-order to prevent DoS attacks (aka spams) that would inevitably occur on the Stellar network, a small fee of 0.00001 XLM is associated with every transaction that occurs on the network. This fee is small enough so it does not significantly affect the cost of transaction, but large enough so it dissuades bad actors from spamming the network.
Prior to Protocol 12, Stellar had a built-in inflation mechanism conceived to allow account holders to collectively direct inflation-generated lumens toward projects built on Stellar.
As the network evolved and grew, it became increasingly clear that inflation wasn’t working as intended — account holders either didn’t set their inflation destination or joined inflation pools to claim the inflation themselves, and the operational costs associated with inflation payments continued to rise — and so a protocol change to disable inflation was proposed, implemented, voted on by validators, and ultimately adopted as part of a network upgrade.
The inflation operation is now deprecated.
https://developers.stellar.org/docs/glossary/inflation/
Cryptocoins News / NewsBTC - 2 weeks ago
Stellar (XLM) has been following the general sentiment in the market and trending to the downside in the last 24 hours. Bitcoin, Ethereum, and other larger cryptocurrencies were rejected at critical resistance levels and now seem poised to push the...
Cryptocoins Exchanges / CEX.IO - 2 weeks ago
On the heels of adding Stellar USDC to our exchange in early 2022, CEX.IO is excited to offer up to 1,000 qualified users the opportunity to earn 50 USDC for depositing 30 Stellar USDC an...
Cryptocoins News / NewsBTC - 4 weeks ago
Stellar (XLM) picked up pace on the daily chart as the coin registered some upward movement. The coin has been trading within a descending channel. Although the coin was moving sideways, if bulls reclaim the chart XLM can break above the channel.
Te...
by COINS NEWS - 4 weeks ago
I previously posted:
“Got a notification to select a new reward but it appears that there are no options to select from that don’t expire on the 17th of July, 2022. No more Amp at 2%, no more USDC at 1%, no more DAI at 1%, no more Ethereum at 1% and...
Cryptocoins News / CoinJournal - 4 weeks ago
Stellar Lumens is 87% below its ATH.
The cryptocurrency brings together the global financial systems to blockchain.
Stellar token XLM is yet to find a bottom.
Stellar Lumens XLM/USD trades slightly above $0.1. Compared to its all-time high o...
Cryptocoins News / Blockchain - 1 month ago
XLM, the 10th cryptocurrency listed, is now available to Kinesis users. XLM will be paired against 8 fiat pairs, including USD, GBP and EUR, as well as Kinesis' native stable coins based on physical gold (KAU) and silver (KAG) - enabling greater acce...
Cryptocoins News / CoinJournal - 1 month ago
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial...
Bitcoin News / Bitcoinist - 2 months ago
Per a press release shared with Bitcoinist, MoneyGram and Stellar are strengthening their cooperation. The payment company has begun the deployment of a crypto-to-cash service on this blockchain. This product will operate as the “first of its kind gl...
by COINS NEWS - 2 months ago
From what I understand Ripple (XRP) is built to compete with systems such as SWIFT in simplifying the global transfer of wealth with existing centralized institutions. It provides instant and cheap transactions, and is more or less a gateway drug for...
by COINS NEWS - 2 months ago
Be sure to update your Lobstr wallet to the current version to see the Moneygram USDC option. MoneyGram has over 350000 Money Transfer locations worldwide. CVS Has 9,900+. retail locations in 49 states, the District of Columbia and Puerto Rico. With...
Cryptocoins News / The Cointelegraph - 2 months ago
MoneyGram International, one of the world’s largest cross-border transfer services, is partnering with the Stellar blockchain to create a stablecoin-based platform for money transfers. The new service will allow Stellar wallet users to send Circle’s...
Cryptocoins News / CoinJournal - 2 months ago
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial...
Cryptocoins News / Blockchain - 2 months ago
Mercado Bitcoin announced on Tuesday that it has partnered with the Stellar Development Foundation (SDF) to examine one of the nine projects in the LIFT Challenge Real Digital.
LIFT is a collaborative environment hosted by the Central Bank of Brazi...
Bitcoin News / Bitcoinist - 2 months ago
According to a press release, the Stellar Development Foundation (SDF) will join forces with major exchange platform Mercado Bitcoin. The partners will work on the nine cases of the Central Bank of Brazil (Bacen) LIFT Challenge.
Related Reading | Nig...
Cryptocoins News / The Cointelegraph - 2 months ago
Brazilian exchange Mercado Bitcoin announced its partnership with the Stellar Development Foundation (SDF) on Tuesday. The company said it intends to develop one of the nine projects selected for the LIFT Challenge Real Digital, promoted by the Centr...
More / Bitcoin Reddit - 3 months ago
Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company,...
Cryptocoins News / CoinJournal - 3 months ago
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial...
Cryptocoins News / CoinJournal - 3 months ago
Ripple and Stellar are some of the biggest cryptocurrencies in the world. The two have a market capitalization of over $35 billion and $4.9 billion, respectively. They also have a common history considering that Stellar was created by a co-founder...
Cryptocoins News / The Cointelegraph - 4 months ago
Recent weeks saw a massive surge of the so-called privacy coins’ prices — namely Monero (XMR), Dash (DASH), Zcash (ZEC) and Haven Protocol (XHV). As many other cryptocurrencies and the industry at large faced immense regulatory pressure amid the war...
Cryptocoins News / CoinJournal - 4 months ago
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial...