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What is Stellar


¿What is Stellar?

Stellar is an open source decentralized network that is linked to banking entities, payment platforms and users, it was created by Jed McCaleb, co-founder of Ripple and Joyce Kim.

Likewise, it was launched on July 31, 2014, with the support of the Foundation with a non-profit structure for the operation of Stellar.

Its native currency (XLM), which allows transfers from cryptocurrencies to money by decree and vice versa.

The objective is to provide easy, fast and secure access to bridging transfers between currencies.

The operation of this protocol is supported by a company named Stellar Development Foundation.

¿What does it offer?

Stellar allows in an agile and reliable way the cross-border sale of any currency that is in the market.

¿How does it work?

Stellar works under a hybrid Blockchain.

In other words, it is managed by several entities, it is not related to any currency and it does not give incentives for block mining.

The platform has a wide variety of servers that support its large list in which it checks the records of all the transactions in the blockchain.

These data are linked and authenticated by the Stellar consensus protocol (SCP).

The function of your Lumens currency is to take care of protection and exchange. With this, the network can validate the accounts, since the user must have at least 0.5 lumens to enter the activities in Stellar

¿How is it regulated?

Being a decentralized platform, there is no financial institution that regulates it.

¿Why do people use Stellar?

People use stellar, because with this platform you can have an account with a financial company, you can send your earnings to other places or countries at very low commission costs.

Likewise, Stellar moves a greater volume of transactions between users of 600,000 or only 0.001 usd.

Finally, stellar has cryptographic protection in all operations.

¿How is Stellar different from other decentralized platforms?

Unlike other decentralized platforms, Stellar has much faster transaction confirmation than other platforms, taking only 2-5 seconds to confirm.

Likewise, their commissions handle a relatively low cost, in turn these give access to the platform being a safe system against attacks.

Finally, it supports payments using the Lightning Network, which makes it much faster and more agile.

¿Where can i buy it?

One of the ways where you can buy LUMENS is through Binance, since it has a great variety tradable in trade, you can exchange a cryptocurrency, fiat cryptocurrencies or simply use a debit or credit card to buy the stablecoin, they are also allowed bank deposits.

¿Where to find more information?

For more information such as movements, prices, explorers, contracts and more you can visit the following link:

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