Stella (ALPHA)

Stella: A Blockchain Network for Payments and Tokenization

Overview

Stella is a decentralized, public blockchain network developed by Stellar Development Foundation. It provides developers with tools to create experiences that resemble cash more than traditional cryptocurrencies. Stella aims to be faster, cheaper, and more energy-efficient than most other blockchain-based systems.

Stella Cryptocurrency

The cryptocurrency associated with the Stella network is called the lumen, which is traded under the symbol XLM on various cryptocurrency exchanges. Lumens are designed to be used within the Stella network for paying transaction and account initialization fees.

Main Features

  • Fast, efficient, scalable, and affordable
  • Open-sourced, public blockchain
  • Powered by the Stellar Consensus protocol (SCP), a proof-of-agreement consensus mechanism
  • Designed for creating and issuing digital assets that enable rapid, low-cost payments worldwide
  • Allows for the creation, sending, and trading of digital representations of various forms of value
  • Acts as a bridge, connecting financial systems and enabling global interoperability

Benefits

  • Faster transaction confirmations within 5 seconds
  • Lower energy consumption compared to many other blockchains
  • Capable of processing up to 1000 transactions per second
  • Handles high transaction volume, comparable to SWIFT

History and Governance

The Stellar blockchain was launched in 2014 by Jed McCaleb, who also co-founded Ripple and founded Mt. Gox. However, critics argue that the Stellar network is centralized around the Stellar Development Foundation, which controls a significant share of the lumens tokens.

Overall, the Stellar network aims to facilitate low-cost, cross-border, and cross-asset financial transactions, connecting banks, payment systems, and individuals.

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Where to Buy the Cryptocurrency Stella

Ledger Live

You can buy Stella (XLM) through the Ledger Live app by using Coinify as a partner to secure your purchase and store it directly with your hardware wallet. The app provides price information and allows you to buy Stella with a credit card or bank transfer.

Coinbase

Although Coinbase does not currently support StellaSwap (STELLA), they offer the opportunity to stay updated on its availability and get notified when it becomes available on the Coinbase app. Additionally, you can check CoinMarketCap to see where you can buy StellaSwap and with which currencies.

Kraken

Kraken is a platform where millions of users buy Stella. You can connect your preferred payment method, fund your account, and purchase Stella with as little as $10. Kraken offers a safe and easy way to get started with crypto, allowing you to buy Stella with various payment options.

Binance

Binance is another platform where you can buy Stellar (XLM) and various other cryptocurrencies. You can create a free account on the Binance website or app, verify your identification, and choose the method of buying Stellar that suits you best, be it credit card, debit card, or other payment options.

Remember to do your research on the different platforms before creating an account to ensure their security, reliability, and liquidity.

Founders of Stellar

Jed McCaleb - Founder of Stellar, Mt.

Gox, and Co-founder of Ripple

Jed McCaleb is a well-known figure in the cryptocurrency industry. He is the founder of Stellar, a decentralized blockchain network that aims to facilitate fast, low-cost cross-border payments.

McCaleb also co-founded Ripple, another popular cryptocurrency platform. Prior to founding Stellar and Ripple, he was involved with the infamous Mt.

Gox exchange, which was one of the earliest and largest cryptocurrency exchanges.

Stellar Development Foundation - A Non-profit Organization

In addition to Jed McCaleb, the Stellar Development Foundation plays a crucial role in the development and growth of the Stellar network. It is a non-profit organization that supports the mission of creating equitable access to the global financial system through the use of blockchain technology.

While Jed McCaleb is recognized as the founder of Stellar, it's important to note that the success of the project is a result of collaboration with the Stellar Development Foundation and other individuals and organizations in the cryptocurrency community.

Overall, the founders of Stellar include Jed McCaleb and the Stellar Development Foundation, which is a non-profit organization dedicated to advancing the Stellar network.

Roadmap and Future Plans of the Cryptocurrency Stella

2023 Roadmap

The year 2022 was unpredictable and challenging for the cryptocurrency industry.

Despite this, the Stellar network and the Stellar Development Foundation have shown resilience and differentiation.

In response to global crises and volatility, Stellar has focused on innovation, utility, and responsible decentralized finance (DeFi). The organization has engaged with stakeholders, advocates, and critics, highlighting the reliability, consistency, and maturity of the network.

2023 Strategy: Utility is the Growth Exponent

Stellar Development Foundation's 2023 strategic roadmap emphasizes utility as the driving force for growth.

The roadmap aims to:

  • Make innovation easy and scalable
  • Focus on utility to build trust

These building blocks will strengthen the Stellar network, ecosystem, and community. By delivering utility, Stellar aims to attract more builders and achieve exponential growth through network effects.

The goal is to create equitable access to the world's financial system, promote real-world solutions, and raise the bar for the Stellar ecosystem.

Further developments include supporting the creation of smart contracts on Stellar, allowing for new trust-minimized functionality without protocol changes.

This move aligns Stellar with other blockchain platforms like Ethereum, Polkadot, Cardano, and Cosmos.