Stellar Blockchain
Stellar blockchain is a decentralized, open-source distributed ledger that enables fast and secure transfer of digital assets. It was created in 2014 by Jed McCaleb, one of the co-founders of Ripple, and Joyce Kim to power an international payments network. With its simple yet powerful design, Stellar has become a popular platform for developers to build applications upon. Its focus on scalability and low transaction fees have made it attractive as a cryptocurrency exchange asset.
The Stellar network consists of several different components which enable users to securely send money across borders without having to use traditional banking infrastructure or paying high remittance fees. The main parts are the distributed ledger (also called the “ledger”), the consensus protocol (which ensures all transactions are valid), and anchors (other financial institutions like banks) who act as trust agents on the network by verifying user identity when required by regulators or other organizations.
In addition to providing basic payment services, Stellar also supports smart contracts written in its own language called “stellar script” which can be used for more complex transactions such as setting up escrow accounts or issuing tokens backed by real world assets like gold or stocks. These features make it possible for developers to create custom solutions tailored specifically to their needs while still taking advantage of all the benefits provided by blockchain technology such as immutability and cost efficiency.
Since its launch in 2014, Stellar has seen steady growth with many organizations using it including IBM World Wire, Deloitte Touche Tohmatsu Limited Japan Bank Consortium Trust Network, SatoshiPay Ltd., TransferTo International Money Transfer Service Provider among others; making it one of the most widely adopted blockchains today due to its simplicity in setup process combined with robust security protocols and low transaction costs
