Stellar

About

Stellar is an open-source blockchain platform designed to facilitate cross-border transactions efficiently and cost-effectively. It aims to connect financial institutions and reduce the time and cost associated with international money transfers. Stellar's primary focus is on financial inclusion, enabling access to financial services for underserved populations. The platform supports transactions in various currencies and assets, making it versatile for global use. Stellar operates using the Stellar Consensus Protocol (SCP), which allows for fast transaction validation without extensive computational power. This results in transactions being processed in just a few seconds, making it suitable for real-time payments. The network is decentralized, enhancing security and reducing the risk of a single point of failure. Stellar Lumens (XLM) is the native cryptocurrency used for facilitating these transactions. Overall, Stellar provides a robust infrastructure for seamless cross-border financial transactions.