Stellar is the platform for foreign exchange transactions operating in real time with internal coin – Stellar Lumens (XLM). It was founded in early 2014 by jed McCaleb and Joyce Kim as a branch of the Ripple system and first worked on the eponymous Protocol. In the future, it developed its own open-source Protocol Stellar. In the process of using its own kind of electronic currency, which was previously called the rack or the star, and now called the Stellar Lumen.
To support the platform was organized non-profit non-stock Fund Stellar Development Foundation . The Fund was derived from the company Striperuen.
The updated Stellar network (on its own Protocol) was launched in November 2015. And at the time of the first release in the summer of 2014, and during 2015, Stellar received benevolent reviews in the press. In October 2017, the company announced cooperation with IBM. There are many successful blockchain project which conducted ICO over the Stellar Platform.
Stellar Crypto Review
Stellar is an open-source protocol for value exchange. It was founded in early 2014 by Jed Mccaleb and Joyce Kim.The Stellar protocol is supported by a nonprofit, the Stellar Development Foundation. The Foundation’s mission is to expand financial access and literacy worldwide.
At launch, Stellar was based on the Ripple. After systemic problems with the existing consensus algorithm were discovered, Stellar created an updated version of the protocol with a new consensus algorithm. The code and whitepaper for this new algorithm were released in April 2015.
The Whitepaper is available on: https://www.stellar.org/papers/stellar-consensus-protocol.pdf.
The servers perform a software implementation of the Protocol and use the Internet to connect and communicate with other Stellar servers, forming a global currency exchange network. Each server keeps records of all “accounts” in the network. These records are stored in a database called Ledger. Servers declare changes in the Ledger, offering “deals” that transfer accounts from one state to another, spending the balance of the account or changing its properties. All servers are trying to come to an agreement that will apply to the current Ledger some package deals, through a process called “consensus”.
The Consensus process runs at regular intervals, usually every 2-4 seconds. This keeps a copy of each server’s Ledger in a synchronized and identical state. When you start Stellar was based on the Protocol Rippleruen. After system problems related to the existing consensus algorithm were discovered, Stellar created an updated version of the Protocol with a new consensus algorithm based on a completely new code. The code and technical documentation for this new algorithm was released in April 2015, and the updated network began operating in November 2015.
Stellar platform rules
When organizing the Stellar payment network, actions were taken and rules were adopted, which should help to avoid the problems inherent in the Ripple network.
We can say that the organizers of the Stellar platform have done everything possible to exclude any gambling component from this project.
Stellar Coin – Stellar Lumens (XLM)
Stellar Lumens (XLM) cryptocurrency is a direct competitor of Ripple, and that is why, in recent years, it has attracted increased attention from the public.
Stellar platform is equipped with internal decentralized exchange, which can be used to trade any cryptocurrency. However, about 50% of trading is performed on the Binance crypto exchange. It is also possible to use Poloniex, OKEx, Upbit, Kraken and other exchanges.
Stellar Lumens Wallet
If you’re thinking of buying Stellar Lumens, you’ll first need to find somewhere safe to store your XLM. However, there’s an array of wallets available, so read on to discover more about five of the most popular options and find one that’s right for your needs. There is a plenty of wallets for the storage of Stellar coin, including hardware and paper crypto wallets. It depends on the users wishes. The Stellar coins can be stored on the official wallet – Stellar Desktop Client, you can also use Stronghold, Stargazer, Ledger Nano S and others.
Market capitalization on 6 June 2018 was: $5.43B XLM Token price on 6 June 2018 was: $0.29
The BitcoinWiki provides a relevant Stellar price and market cap of the crypto project:
If the prospects of Ripple cryptocurrency are in partnership with banks, i.e. the more banks will start working together with RIPL, the higher its rate will be. The prospects of Stellar also depend on the conclusion of partnerships, but not with banks, but with companies. Thanks to these collaborations, we have seen a sharp jump in the cost of XLM. The loudest cooperation agreement was the partnership with IBM, which is the record for patenting new developments in the world. This partnership will undoubtedly bring many benefits to Stellar in the future.
Given all the characteristics, we can assume that the cryptocurrency Stellar has all the chances to become the leading global platform, and its stay on the 8th place in the capitalization rating, makes this goal even closer.
Joyce Kim was a VC at Freestyle Capital and an entrepreneur. Prior to that, she was an attorney at Wilmer Hale and Sherman & Sterling and pro bono at Sanctuary for Families and the Innocence Project. Joyce graduated from Cornell University at the age of 19, followed by graduate school at Harvard and Columbia Law School. She is also a Director’s Fellow at the MIT Media Lab.
Joyce frequently speaks about tech nonprofits and the social potential of the Stellar network .
Jed McCaleb is a co-founder of Stellar Development Foundation. In 2000, Jed created e-Donkey which became one of the largest file-sharing networks in its time. He later created Mt. Gox, the first bitcoin exchange, which was subsequently sold and re-coded by its current owners.
- Stellar Official website
- Stellar Twitter
- Wikipedia.org – Stellar
- Stellar on Reddit
- Stellar on BitcoinTalk forum
- Stellar market state