Review on Stellar by Othere Obtentus
Payment network for individuals
Stellar is a decentralized payment platform designed to have a fast, stable and cost-effective international payment solution. It could even be utilized to issue your private tokens. Stellar is a fork of Ripple's code, which suggests that perhaps a lot of Stellar's original coding was founded on Ripple. When Ripple's main objective is on expanding its market with notable banks throughout the world, Stellar has remained focused on a separate business. The goal of Stellar is to aid any person transfer funds in any currency across the globe. It is a non - profit company whose main goal is to expand financial access to all, especially individuals in parts of the world who do not receive the privileges of simple financial organizations like banks.
Lumens is the digital currency in the stellar network. It serves as a transfer currency to promote transfers and make payments. Payments on the platform are often incredibly swift. Validation intervals are about 2-3 seconds and the network can support more than 1,000 requests per second. XLM is exchanged in loads of different markets including certain popular ones like Coinbase Pro and Binance. There is also a selection of other popular fiatgateway exchanges that you can utilize in particular areas.
Pros
- High Speed of Transactions
- Low Transaction Costs
- Built-in, nominal inflation mechanism.
- Strong Partnerships
- Multi-currency exchanges
Cons
- High Competition
- SDF Holds Majority Of Supply
