Stellar is a new Ripple like payment system recently launched by McCaleb, former founder of Mt.Gox and Ripple. Joyce Kim, executive director of the Stellar Development Foundation, said stellar will serve as a bridge between fiat and digital currencies, which is key for digital currencies to be adopted by mainstream users. The new platform is a decentralized gateway for transfers between digital and fiat currencies. Like XRP and Bitcoin, Stellar will have its own digital currency, XLM. Stellar is an open source platform for monetary payments that makes it possible to create, send, and trade digital representations of various forms of currency (dollars, pesos, Bitcoins, and just about everything). It is designed so that all the world's financial systems can work together on a single network.

Realize the storage and transfer of money. Cross-border transfer of funds (high fees and delays). In this sense, XLM and XRP are very similar. This similarity is not surprising, as XLM is a hard fork from XRP. XLM is now focused on corporation-level customers, helping them to transfer money via blockchain technology without the problems of transferring money across regions.

At present, cross-border payment is a headache for people all over the world. If it can be realized in a very convenient way, it will be a historic change and there is a huge market demand.

Launched in 2014, Stellar is a blockchain-based platform designed to speed up money transactions and transfers. Stellar, which was originally built on the Ripple Labs protocol, forked and overwrote the code. Similar to Ripple Labs' XRP, Stellar's XLM currency is a currency that acts as a bridge to facilitate different transactions that users make on the Stellar platform.

Stellar Coin's consensus approach allows for quick and cheap transactions, and everyone on the network can agree on the validity of a transaction within seconds. Each participant (called a node) that adds stellar transactions to the global ledger selects a small network of other trusted participants with whom it agrees. As long as these micro-networks (called arbitrated slices) overlap, the entire Stellar network can reach agreements about which transactions are valid and can be added to the ledger very quickly. You can learn more about how Stellar's consensus mechanism works in this article.

1. Micropayments reduce the cost of small amount transfers and provide customers with incremental payment options. 2. Remittances Remittances can be sent quickly to different countries with a very low handling fee, which can effectively promote low-cost payments between different currencies. 3. Mobile Money This enables interoperability of mobile money platforms, allowing customers to send mobile money to recipients of different providers. 4. Social enterprise + NGO programs use low-cost financial services to bring about sustainable social change

Star currency created by the network and Ripple payment network function, through its transfer any currency, including the dollar, euro, yen and RMB or COINS, easy and fast, it depends on the currency block chain technology, can be connected in two to five seconds, 180 kinds of currencies in the world bank, payment system and the general public, Reduce transaction costs and time delays associated with cross-border payments.

A decentralized network consists of points that operate independently of each other. Transport information is scattered across a network of servers rather than being driven by one primary source. 2. Ledgers The Stellar network is similar to a traditional ledger, keeping a record of all balances and transactions for each individual account on the network. The complete global Stellar ledger is hosted on every server running Stellar software, and one entity can run a Stellar network. Stellar servers communicate and synchronize with each other to ensure that transactions are valid and can be successfully applied to the global ledger. The entire process of reaching consensus on the Stellar network happens roughly every 2-5 seconds. 4. Anchors, trust, and credit anchors are simply entities that people trust to hold their deposits and send credit points based on those deposits into the Stellar network. They act as a bridge between different currencies and the Stellar network. All currency transactions on the Stellar network (with the exception of Lumens' built-in digital currency) take place in the form of credit points issued at anchor points. Distributed exchange a Stellar ledger stores quotes for people to buy or sell currency. An offer is a promise publicly exchanged for another type of credit at a predetermined price. The ledger became the quote for the global market. Allowing people to trade currencies as foreign exchange and seamlessly exchange them as they trade. Multi-currency trading Stellar lets you send all your currency in different currency types to anyone else via a built-in distributed exchange, and people can receive any currency through the anchor points they add.

Transactions that occur on the Stellar network are added to a shared, distributed, public ledger that can be accessed by anyone around the globe.

Stellar's agreement requires transfers to be made without intermediaries or third parties, allowing users to perform basic banking services even without a bank account. Additionally, thanks to Stellar's ability to convert different currencies into other tokens, users will be able to quickly switch between different payment methods. For example, one application offered on the platform involves converting phone points into money.

Twenty-five percent is distributed to nonprofits to provide LUMen to underserved people through increased access programs

Copyright belongs to the author, any form of reprint please contact the author. Source: author: flag raiser (from douban) https://www.douban.com/note/657673040/ star currency in the future will be a powerful competitor of Ripple. It is based on a technical code modification of Ripple. Some say XLM is Ripple 2.0, but XLM is more focused on providing fast and cheap remittance and micropayment services for individuals. The market of XLM, I think, is the cross-border cross-bank payment volume. About 5 trillion DOLLARS flow through SWIFT information system every day. Even if XLM only occupies a part of the market, the transaction volume is quite substantial.

Thanks to the Stellar network, transaction fees will be significantly lower in the future, allowing money to move quickly and affordably anywhere. New projects are being launched on the Stellar blockchain to contribute to the Stellar system. Stellar's original goals are well within reach, and it's doing its best to achieve them.

XLM transaction costs are very low, requiring only 0.00001 XLM per transaction, regardless of the size of the transaction. So it's great for small transactions, like everyday purchases. According to the site, it is very developer friendly and provides a great SDK, which can implement very abstract high-level functions in very short code. IBM's commitment to Stellar isn't pure. IBM wants to build a global payments empire with Stellar capabilities. In October, IBM launched its cross-border payment solution for banks, building on Stellar agreements. The scheme, mediated by XLM, enables rapid transfers between global financial institutions and already handles transactions in 12 foreign exchange corridors in the Pacific Islands, Australia, New Zealand and the United Kingdom. It is expected to process 60 per cent of cross-border payments in the South Pacific retail foreign exchange Corridor next year. IBM also added stablecoin SUSD to deal with XLM's price instability. Crucially, SUSD is currently the only stablecoin issued on the Stellar network. So IBM has real love for Stellar. Currently, SUSD is mainly for enterprise users such as financial institutions, multinational corporations and asset management companies, but not for individual users. IBM's history with payments runs deep. In 1972, IBM developed networked ATM system to realize information query function, laying the foundation of modern ATM. Last month, a problem with IBM's banking system caused all atMs in Taiwan to go down for a day. It is IBM's banking credentials that make rating agencies optimistic about XLM's future.

One is that large price fluctuations in the market could create trading risk for investors, and the other is policy risk, because what Stellar is doing is a global payment system, and for some cross-border transactions, the government can't monitor them, and fx is a legal red line! In addition, some criminal transactions such as money laundering will be bred in these transactions, which will be strictly controlled by policies in the short term, with certain policy risks.

Where does Stellar's value come from? Stellar is useful and valuable because it is a global exchange network capable of hosting exchanges between thousands of currencies and tokens per second. Exchanging between cryptocurrencies and/or fiat currencies can be a lengthy and expensive process. The stars make trading fast and cheap. XLM is an asset that will be supported in blockchain wallets to pay transaction fees and maintain accounts on the Stellar network. In 2014, Mt. Founder Jed McCaleb Gox and co-founder of Ripple started the Stellar network with former lawyer Joyce Kim. Before the official launch, McCaleb set up a website called The Secret Bitcoin Project to seek Alpha testers. The not-for-profit Stellar Development Foundation, created in partnership with Stripe CEO Patrick Collison, officially launched in July. Stellar received $3 million in seed funding from Stripe. Sikecoin is issued as a decentralized payment network and protocol using local currency Sikecoin. At launch, the network had 100 billion stars. Twenty-five percent will be allocated to other nonprofits working to achieve financial inclusion. Stripe gets 2% of the initial stars, or $2 billion, in exchange for its seed investment. The cryptocurrency, originally called Stellar, was later called Lumens or XLM. In August 2014, Mercado Bitcoin, Brazil's first Bitcoin exchange, announced that it would use the Stellar network. As of January 2015, Stellar had approximately 3 million registered user accounts on its platform and a market cap of nearly $15 million. The Stellar Development Foundation released an upgrade agreement with the new consensus algorithm in April 2015, which went into effect in November 2015. The new algorithm uses SCP, a cryptocurrency protocol created by Stanford professor DavidMazieres. Stellar's for-profit entity lightyear. IO was established as a commercial arm of the company in May 2017. In September 2017, Stellar announced a benefit program as part of its Stellar Partnership Grant program, which will award partners up to $2 million in lumens for project development. In September 2018, Lightyear Corporation acquired Chain, Inc., and the combined company is called Interstellar.