Stellar (XLM) is an open-source payment technology that aims to connect all the financial institutions in one single system and reduce the cost and time required for cross-border transfers. Stellar shares a similarity with Ripple (XRP) infrastructure and vision.
Essential details:
- Stella was launched in 2014 by Jed McCaleb, one of the co-founders of Ripple.
- The transactions of Stellar are processed in 3-5 seconds. limit of thousands transactions per second.
- Unlike Ripple, Stellar aims to bring open finance to the unbanked.
Why invest in Stella?
- Effective Payment
Stellar provides faster transactions and lower fee for transferring all forms of money.
- Strong Ecosystem
Over 60 projects in the stellar ecosystem and several government choices for CBDC.
- Fast, Transparent, Smooth
With Stellar Consensus Protocol (SCP), which allows network participants to reach consensus via voting, rather than by mining.
Whitepaper: https://www.stellar.org/papers/stellar-consensus-protocol