Stellar

About Stellar

Stellar is an open-source, decentralized network co-founded in 2014 by Jed McCaleb and Joyce Kim to facilitate fast and low-cost transfer of value across different currencies and assets globally. Managed by the non-profit Stellar Development Foundation, it connects banks, payment systems, and individuals to expand financial access. The network uses the Stellar Consensus Protocol and a Federated Byzantine Agreement, where nodes choose trusted sets to agree on the ledger state, ensuring high throughput and fast finality. Key features include a built-in distributed exchange and the Soroban platform for smart contracts. The native token XLM is used for network integrity, transaction fees, and minimum account balances. The network has no inflation as the community voted to disable automatic token creation.

• Stellar was co-founded by Jed McCaleb, who also co-founded Ripple.
• The network uses a Federated Byzantine Agreement rather than proof-of-work or proof-of-stake.
• Stellar's community voted to disable automatic creation of new tokens, resulting in no inflation.
• The project received early funding from the payments company Stripe.
• Stellar's built-in distributed exchange allows trading assets without intermediaries.