Stellar (XLM) Story
Established in 2014, Stellar is a thriving cryptocurrency and innovative payment protocol, birthed by none other than Jed McCaleb. Prior to this venture, McCaleb was part of Ripple Labs, after founding the prominent Bitcoin exchange, Mt. Gox. However, differing ideologies prompted McCaleb to break away and develop his own vision of Stellar.
Stellar was thoughtfully crafted by McCaleb as a renowned open-source blockchain protocol, with the goal of enabling swift, cost-effective, and exceedingly adaptable payment transactions. More specifically, it was designed to cater to the financial needs of individuals and groups who are currently deprived of or restricted from utilizing traditional financial systems.
The use of the "Federated Byzantine Agreement" (FBA) consensus algorithm is one of the most notable elements of Stellar. By employing this algorithm, the network is able to quickly reach agreement among its numerous participants. This powerful tool not only speeds up transaction confirmations, but also strengthens the overall security of the Stellar platform.
XLM, known as Stellar Lumens, is the primary cryptocurrency powering the Stellar network. It is essential for facilitating transactions and upholding the network's safety. Moreover, XLM plays a crucial role in representing assets and tokens on the Stellar network.
The Stellar network has been making waves with its approach towards microtransactions, cross-border payments, and its altruistic goal of providing financial access to the underserved. A growing number of financial institutions and businesses are finding potential in utilizing the Stellar platform to innovate and elevate their current payment systems.
Founding Purpose
One fascinating aspect of Stellar (XLM) is that its development is overseen by the non-profit Stellar Development Foundation (SDF). Founded by the brilliant Jed McCaleb, the SDF's mission is to foster a self-sustaining ecosystem that promotes worldwide financial inclusivity through the power of Stellar.
Stellar Ecosystem
Stellar is more than just your average cryptocurrency and payment system - it's a powerhouse of innovation on its own blockchain protocol. With partnerships in place with various financial institutions, Stellar is constantly expanding its reach and making a significant impact in financial ecosystems. Its versatile protocol is highly sought after for a wide range of uses, from facilitating cross-border payments and microtransactions to promoting financial inclusivity.
Through partnerships with a diverse group of entities including financial institutions and corporations, Stellar is able to offer solutions to improve global access to the financial system and enhance efficiency. By utilizing its own blockchain and working closely with other financial institutions, Stellar has built an expansive ecosystem designed to meet a variety of financial demands and overcome challenges.
Source
https://www.coindeskturkiye.com/kripto-para/XLM https://www.reddit.com/r/Stellar/comments/ybkx72/stellar_ecosystem_map_for_beginners/?rdt=47460 https://www.btcturk.com/bilgi-platformu/stellar-lumens-xlm-nedir/
