Review on Stellar by francis fernandez
Stellar-in tune with Lumens
Stellar is an open source blockchain platform, whose native currency is the lumen (XLM).
Stellar's main function is to serve as a platform for international transfers in both fiat money and Lumens cryptocurrencies.
In this sense, this platform serves as an exchange house to connect banking institutions, people and payment instruments; through financial intermediation; to allow reliable, economical and real-time transnational transfers, using its digital currency the Lumens for the payment of commissions in its network.
To carry out the technological link between different exchange platforms; Stellar uses the protocol called Horizon, which allows many applications to communicate fluently on the network to carry out operations, validate accounts and notify about events.
Each of the Horizon servers are integrated with the Stellar Core protocol that acts as the main server of the network to synchronize the related operations of its members.
What makes Stellar stand out from the other blockchains?
Stellar is undoubtedly a platform marked by a philanthropic purpose; since its ideology is to achieve the inclusion of people, businesses and blockchain technology under the same global network. Hence, its nature is based on being a non-profit platform.
Pros
- The real time of your transactions is extremely short; being able to carry out operations between 2 to 5 minutes.
- It allows making exchanges in both Fiat currencies and Lumens cryptocurrencies
- Its main purpose is to achieve the integration of all entities to the financial system: individuals, banks and blockchain technology.
Cons
- Stellar developers do not receive benefits for transactions carried out on the platform; since it is linked to a non-profit Foundation that does not market its shares.
- It is a digital currency that cannot be mined. There is only a limited number of them equivalent to 100,000 million tokens
