Introduction:

Stellar is a blockchain platform that was developed to facilitate cross-border transactions. It was created by Jed McCaleb, the co-founder of Ripple, who also developed the Bitcoin protocol. Stellar is often considered a fork of Bitcoin because it was built on top of the Bitcoin codebase and shares some of its features.

This article will explore Stellar as a blockchain platform and compare it to other popular blockchain networks such as Ethereum and EOS. We will also examine the implications of Stellar for blockchain development, including its potential impact on financial institutions and its role in global trade.

Stellar: A Blockchain Platform

Stellar is a decentralized network that enables fast, low-cost cross-border transactions. It was developed to address the challenges of traditional financial systems, which can be slow, expensive, and prone to errors. Stellar allows users to transfer assets such as fiat currency, cryptocurrencies, and commodities across borders in a matter of seconds.

Stellar’s consensus mechanism is based on the Stellar Consensus Protocol (SCP), which uses a delegated proof-of-stake (DPoS) algorithm. Unlike Bitcoin, which uses a Proof of Work (PoW) algorithm, Stellar does not require miners to solve complex mathematical problems in order to validate transactions. Instead, the network relies on a group of validators who are chosen based on the amount of Stellar they hold.

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