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 / CoinJournal - 2 years ago
The Stellar coin has been rising steadily for the past year and has generated an impressive return of for its users. The coin is currently consolidating near the region of $0.31 at the time of writing. The token could register another 20-30% gains fr...
Cryptocoins News / The Cointelegraph β - 2 years ago
Anclap expects to launch two more Stellar-based stablecoins for Chile and Colombia later this year. Latin American stablecoin issuer Anclap is expanding its Stellar-ba...
Cryptocoins News / NewsBTC - 2 years ago
Leading wealth management platform Abra completed a Series C funding with participation from the Stellar Development Foundation. The company raised $55 million in the round led by major players in the industry, such as IGNIA and Blockchain Capital.
T...
by COINS NEWS - 2 years ago
edit: this is my research/opinion, you could indiffer. Yes, I am fond of this project but I'm not invested into them as I am unable to atm. To me Stellar is one of the most promising payment-oriented blockchains right now. They've forme...
Cryptocoins Exchanges / Binance - 2 years ago
Anyone knows when is the soonest this will resume service? Wanted to transfer some XLM from binance to other wallet but can't, waited since yesterday. submitted by /u/bitterbutterz [link] [comments]
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoinβs steady climb toward new highs is bringing about the usual breakout from legacy altcoins like LTC, BCH and XLM. Bitcoin (BTC) has been the uncontested cryptoc...
Cryptocoins News / The Cointelegraph β - 2 years ago
Demand for institutional-grade blockchain solutions is on the rise as banks and traditional financial institutions look to invest in cryptocurrencies. Blockchain cyb...
by COINS NEWS - 2 years ago
With recently energy efficiency becoming more important, XLM is even more energy efficent than VISA. Bitcoin takes 1575.93 kWh per transaction Ethereum takes 107.75 kWh per transaction Ethereum 2.0 will take around 0.53 kWh per transac...
Cryptocoins News / NewsBTC - 2 years ago
This project is an enigma. On the one hand, Stellar is not for profit, it doesnβt have owners or shareholders, and strives to be somewhat decentralized. On the other, Stellar is a compliance-focused protocol, and its directors often meet with shadowy...
Cryptocoins Exchanges / Binance - 2 years ago
Happened today 21.8. when i went to check deposit address. "The selected network address BEP20 (BSC) listing is currently being generated. Please choose an alternative network to deposit or try again later." <-- How to get Deposit addr....
by COINS NEWS - 2 years ago
XLM users have paid 0,0000048% ($75) of what Ethereum users paid ($15,464,170.35) for all their transactions in 24H. XLM users have paid 0,00009% of what Bitcoin users paid in 24H. (Dont get me wrong, ETH and BTC are still great projects and have the...
by COINS NEWS - 2 years ago
Real world adoption has come even though some people arenβt even aware of it yet. I handed the front desk employee my card and asked βDo you accept this?β They probably just noticed VISA and of course they would, but it feels good knowing that crypto...
Cryptocoins News / The Cointelegraph β - 2 years ago
Chilean Peso-pegged stablecoin CLPX launched on Stellar this week and is hoping to gain traction in the remittance and copper markets. A new stablecoin pegged to the...
Cryptocoins News / The Cointelegraph β - 2 years ago
The new cross-border remittance corridor will be hosted on the Stellar blockchain and serve around 600 million customers Cross-border remittance currently stands as on...
Cryptocoins News / The Cointelegraph β - 2 years ago
The new cross-border remittance corridor will be hosted on the Stellar blockchain and serve around 600 million customers. Cross-border remittance currently stands as o...