Stellar (XLM)

Stellar (XLM) is a decentralized, open-source protocol for digital currency to fiat currency transfers which allows cross-border transactions between any pair of currencies. It is a distributed ledger technology that enables fast and secure transactions between two parties. The Stellar network is powered by the Stellar Consensus Protocol (SCP), which is a consensus algorithm that allows for distributed agreement on the state of the ledger. The Stellar network is also supported by a decentralized network of validators, which are responsible for verifying transactions and maintaining the integrity of the ledger.

History of Stellar (XLM)

Stellar (XLM) was created in 2014 by Jed McCaleb and Joyce Kim. McCaleb is the founder of the Mt. Gox exchange and the Ripple protocol. The Stellar network was initially based on the Ripple protocol, but was later modified to be more efficient and secure. The Stellar Development Foundation was created in 2015 to promote the development and adoption of the Stellar network. The Stellar network has since grown to become one of the most popular distributed ledger technologies, with over 5 million accounts and over $1 billion in transactions.

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Summary

Stellar (XLM) is a decentralized, open-source protocol for digital currency to fiat currency transfers which allows cross-border transactions between any pair of currencies. It is powered by the Stellar Consensus Protocol (SCP) and is supported by a decentralized network of validators. Stellar (XLM) was created in 2014 by Jed McCaleb and Joyce Kim and has since grown to become one of the most popular distributed ledger technologies. For more information about Stellar (XLM), visit the official website at https://www.stellar.org/.

See Also

• Cryptocurrency
• Blockchain
• Distributed Ledger Technology
• Decentralized Applications
• Smart Contracts
• Crypto Exchanges
• Crypto Wallets
• Initial Coin Offerings
• Proof of Work
• Proof of Stake

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