Stellar is typically a payment network designed to provide a decentralized protocol for transfers of both digital and flat currencies alike.
Background of Stellar
The network came about in 2014 by Jed McCaleb and Joyce Kim. Several languages were used to write this platform including JavaScript, Java, Python, C++ and others. Since then, Stellar has been growing steadily to become one of the strongest platforms used for cross-border transactions between a currency pair.
Features of Stellar
Jeb McCaleb is the co-founder of Ripple, a popular cryptocurrency. Joyce Kim was his former lawyer where they launched the network after using alpha testers in their so-called “Special Bitcoin Project”. The network was launched with stellar, its native currency where it had 100 billion stellars then. Later, it would grow very rapidly where it breached 3 million registered users by 2015.
Growing popularity
Stellar has a very unique positioning. This has brought about a lot of attention including Deloitte who announced in 2016 that it would build a cross-border payments application with Stellar. Later on, it would expand into countries like India, Africa and the Philippines, among others.
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