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Stellar

What is Stellar?

Stellar is a decentralized protocol that enables you to send money to anyone in the world, instantly, for free. The Stellar network is an open blockchain that allows anyone to build low-cost financial products for their community.

The protocol is supported by a non-profit, the Stellar Development Foundation.

Stellar Chart

Who Are the Founders of Stellar?

The Stellar Development Foundation (SDF) is a non-profit organization that was founded in 2014 by Jed McCaleb and Joyce Kim. Jed McCaleb is the co-founder of Ripple and eDonkey2000, and he also created the Mt. Gox exchange. Joyce Kim is a venture capitalist and entrepreneur who has founded two startups, Soompi and Mahalo.com.

The SDF’s mission is to “promote global financial access, literacy, and inclusion.”

Stellar Live Price

stellar
Stellar (XLM)
Rank: 27
$ 0.120177
Price (BTC)
Ƀ0.00000595
Marketcap
$ 3.06 B
Volume
$ 136.45 M
24h Change
0.77%
Total Supply
50.00 B XLM

How does Stellar work?

To understand how Stellar works, it’s important to understand some key terms:

  • Ledger: The Stellar network is a decentralized ledger of all activity in the network. This means that every transaction made on the Stellar network is recorded on a public, decentralized ledger.
  • Anchors: Anchors are institutions like banks, money service businesses, and mobile wallets that hold your deposits and issue credits into the Stellar network.
  • Path payments: A path payment is a type of transaction that allows you to send a currency to someone even if you don’t have that currency. For example, if you want to send USD to someone but only have EUR, the Stellar network will find a path from your EUR to the recipient’s USD.