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#Post#: 14--------------------------------------------------
About Stellar (XLM)
By: Ziadjbt78 Date: August 30, 2019, 8:50 am
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The Stellar network is an open source, distributed, and
community owned network used to facilitate cross-asset transfers
of value. Stellar aims to help facilitate cross-asset transfer
of value at a fraction of a penny while aiming to be an open
financial system that gives people of all income levels access
to low-cost financial services. Stellar can handle exchanges
between fiat-based currencies and between cryptocurrencies.
Stellar.org, the organization that supports Stellar, is
centralized like XRP and meant to handle cross platform
transactions and micro transactions like XRP. However, unlike
Ripple, Stellar.org is non-profit and their platform itself is
open source and decentralized. Through the use of its
intermediary currency Lumens (XLM), a user can send any currency
that they own to anyone else in a different currency.
Stellar was founded by Jed McCaleb in 2014. Jed McCaleb is also
the founder of Mt. Gox and co-founder of Ripple, launched the
network system Stellar with former lawyer Joyce Kim. Stellar is
also a payment technology that aims to connect financial
institutions and drastically reduce the cost and time required
for cross-border transfers. In fact, both payment networks used
the same protocol initially.
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