What is Stellar?

Stellar is a public blockchain platform that uses the Stellar consensus protocol (SCP). The node that finds next valid block is chosen by federated byzantine agreement. This makes the blockchain centralized permission based, as opposed to decentralized blockchains like Bitcoin or Ethereum. Stellar is a community driven open source project launched in November 2014 and written on C++. It is maintained and supervised by non-profit organisation Stellar.org.

The main purpose of creating this ockchain was to expands access to low-cost financial services. Stellar operates with its own token Lumen, supply of which increases a fixed rate of 1% a year. Main difference from Bitcoin is that it is based on the SCP consensus algorithm rather than mining, which means transactions are being confirmed within 2-7 seconds. Stellar has an SDKs that allows users to connect to the blockchain with external software written in Java, Golang, JavaScript, C#, Ruby, Python, Scala, iOS or any other software using REST API. Each transaction has a cost of 100 Stroops (0.00001 Lumens).

Stellar is mainly used by Money transfer companies like Tempo, Eurochange and TransferTo and mobile financial services providers like Coins.ph.

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Historical Price for Stellar
Stellar Markets
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    Coinsquare, which is one of the largest cryptocurrency exchanges in Canada, had recently reported that its exchange had experienced a data breach. The business, on…
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  • Matrixport is seeking $100 million at a valuation of $1.5 billion.
    Coinbold – Crypto news – Crypto Market today – Crypto Market Cap – 58 minutes ago
    Matrixport has the goal of raising $100 million and is now operating at a greater value. In addition, Matrixport Technologies Pte, which is also known…
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    Coinbold – Crypto news – Crypto Market today – Crypto Market Cap – 2 hours ago
    The government of El Salvador has formed a National Bitcoin Office, abbreviated as ONBTC, to monitor local initiatives linked to cryptocurrencies and digital assets in…
  • The Bahamas’ government criticizes FTX’s new CEO John Ray
    Coinbold – Crypto news – Crypto Market today – Crypto Market Cap – 2 hours ago
    While most people were preoccupied with the festivities of Thanksgiving, those involved in the cryptocurrency industry were still unable to get a break as the…