Stellar is a blockchain-based distributed ledger protocol that facilitates cross-asset transfers of value, including payments. It is designed to enable the transfer of money, assets, and other digital forms of value quickly and securely, while allowing users to transact with each other in a decentralized fashion.
Stellar was launched in 2014 by Jed McCaleb and Joyce Kim. Its founders sought to create a blockchain platform that could facilitate global payments and financial transactions, without the need for a central authority. This was intended to reduce the cost and complexity associated with financial services and to allow for faster, more secure, and more reliable transactions.
The Stellar protocol uses a distributed ledger technology called the Stellar Consensus Protocol (SCP). This protocol enables users to securely and reliably transfer assets between each other without the need for a central authority or third-party intermediary. The SCP also facilitates a distributed network for reaching consensus, which is an important element in maintaining the security and integrity of the blockchain.
Founder: Jed McCaleb
Launched On: 2014-07-30
Federated Byzantine Agreement (FBA)
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