Review on Stellar by evita parra
Stellar a fast and safe option for crypto-FIAT conversion and vice versa
Scalability of digital asset transactions has always been one of the common challenges of all crypto platforms. Stellar is a project that is based precisely on providing revolutionary technology to guarantee high speed in the operations carried out on its network.
Besides offering speed in your transactions; Stellar uses its native currency lumen (XLM) to execute transfers from digital currency to FIAT money and vice versa.
An important reason for investors to acquire cryptocurrency and can instantly convert it to fiat money. This guarantees a reduction in the risk of volatility to which digital currencies may be subjected.
The most important utilities that lumens have are to guarantee the security of the chain and to monetize the exchanges of assets in a safe and fast way. Regarding consensus; Stellar employs an exclusive protocol called SCP (Stellar Consensus Protocol) that contributes to the decentralized maintenance of the network.
One of the elements to consider when operating with this cryptoactive; is that it does not have functionality as a payment currency; since so far it only pursues intermediation purposes between conversion of digital money and FIAT money. If this is the mission of the user, Stellar is the ideal cryptocurrency for exchanges.
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Pros
- It is a scalable network
- Has an open source protocol
- It is used to carry out exchanges between cryptocurrencies and fiduciary money
Cons
- It does not have functionality as a means of payment
