Features of Stellar Blockchain
- Smart Contracts: Smart contracts, which are self-executing contracts with the terms of the agreement put directly into code, are supported by Stellar. On the Stellar platform, this makes it possible for developers to create decentralized apps (dApps).
- Decentralized Network: Stellar is a decentralized network, which means that it is not owned or controlled by any single entity. This ensures that the platform is secure, transparent, and resistant to censorship.
- Fast Transactions: Stellar is designed to enable fast and efficient cross-border transactions, with the average transaction time being just a few seconds.
- Low Cost: Stellar is designed to be an affordable platform for cross-border transactions, with transaction fees being a fraction of a cent. This makes it an attractive option for individuals and organizations that need to move money across borders regularly.
- Cross-Currency Conversions: Stellar allows users to convert between different currencies in real-time, making it easy to move money between different countries and currencies.
- Anchors: Stellar uses a network of trusted entities called anchors, which act as gateways to the traditional financial system. This allows users to deposit and withdraw money in their local currency and enables the Stellar network to support a wide range of fiat currencies.
- Scalability: Stellar is designed to be scalable, which means that it can handle a large number of transactions per second. This is important for a platform that aims to support global cross-border transactions.
What is Stellar Blockchain?
Stellar is a decentralized, open-source platform that enables fast, secure, and low-cost cross-border transactions. The Stellar network was founded in 2014 by Jed McCaleb and Joyce Kim, and its mission is to promote financial access and inclusion by enabling individuals and organizations to move money across borders quickly and cheaply.