Stellar is a peer-to-peer decentralized framework that facilitates the storing and moving of funds. The network was created in 2014 by Jed McCaleb and Joyce Kim. With a ami of encourage financial inclusion by helping out the world’s unbanked people. However, the priorities have transited to bridge the financial institutions with one another via blockchain technology.
The protocol has its own native token Lumens (XLM) that acts as a bridge. This makes the platform cost-efficient to trade tokens across the globe which solves the persistent problems associated with payment providers who often charge huge fees for similar kinds of services. The platform allows users to build, send and trade all forms of digital representations of money.
The Stellar network is secured by the “Stellar Consensus Protocol," which holds four vital properties. Namely, decentralised control, flexible trust, asymptotic security, and low latency. The stellar platform gives builders an open platform to reimagine systems and solutions as a network designed for speed, affordability, and utility, with 89 million payments and 7 million accounts.