1 Level
53 Review
-31.5 Karma
Review on Stellar by Ana A
STELLAR
It is an open source decentralized network project that is used for digital currencies that are based on the “faith” of its users that makes transfers regardless of the borders between the currencies, under its own consensus protocol. It is owned by the public. This protocol is organized and endorsed by a non-profit organization; which would later evolve into a cryptocurrency, the Lumen. Use BlockChaim to keep the network in sync and up. Therefore, it is possible to create and exchange cryptocurrencies through its platform. It is a fast and efficient network to trade, save and spend digital money. This Foundation has no shareholders, so it can be exclusively dedicated to the success of it as a neutral, equitable and public network.
Pros
- It is possible to exchange, create and send money and coins from all digital representations.
- It is designed so that all the financial systems of the world work in a single network.
- Its modern system allows users to be more comfortable, cheaper and energy efficient than typical Blockchaim.
Cons
- Lumens must be owned to begin transacting.
- It is frowned upon by some public bodies motivated that when the value changes hands, these transactions elude the friction and the expense of the current banking system, losing the banks interest in transactions.
- It can be used for illegal acts.
