The premiere took place: 2019-01-29
Stellar’s main goal is connecting banks, payment operators and regular users via its own network, allowing for fast, secure and, most importantly, affordable transfers of funds, regardless of location and currency.
The Stellar platform is a network consisting of Stellar Core supporting servers, allowing financial enterprise systems to become efficiently integrated into the network. The main reason for that is the noteworthy SCP (Stellar Consensus Protocol), which handles intra-network user communication and transaction verification in a matter of seconds. Furthermore, the Stellar platform has integrated subjects capable of handling loans known as Anchors.
Stellar was created in the first quarter of 2014. Formerly based on the well-known XRP protocol, the network had undergone numerous updates, resulting in the early (April 2014) design of a brand new Stellar algorithm implemented by November of 2015. The people behind its creation are well known cryptocurrency enthusiasts and developers: Jed McCaleb and Joyce Kim.
Stellar coins are known as Lumens (XLM). They are not mineable, as the entire XLM supply was pre-mined with the network’s creation. Stellar is gradually issued according to an inflation-based XLM distribution system controlled by the Stellar Development Foundation. According to the CoinMarketCap ranking, it is in the cryptocurrency top 10, with its market capitalization as of January 2019 being USD 1 969 884 728.