Review on Stellar by Temitope Babatunde
Make A Cross Border Payment Fastly And Cheaply With Stellar.
Launched in 2014 by the ripple founder Jeb McCaleb and Joyce Kim with headquarters in San Francisco and New York all in USA. The present CEO of stellar is Denelle Dixon .
Stellar is a network for distributing or making payments. It aimed at providing a fast, secure and very cheap solution to the problem of cross border payments . It tends to securely connect all those who have something to do when it comes to making payments.
The native token of stellar is XLM which at its launch has 100 billion tokens and is inflationary in nature which means more tokens will be generated in the future. The developers who so which can create their token on stellar easily, for example mobius net, SureRemit, Smartland have used it. Stellar does not use pos or pow but it used what it called Stellar Consensus Protocol (SCP).
Stellar has partnered with so many projects to make its usefulness known, for example it is in partnership with IBM, Tempo in France, Remitr in Americas, SatoshiPay and SureRemit.
XLM can be found in many exchanges and it can be store in many available wallets. The foundation use to do airdrop from time to time to distribute the coin. To enjoy the service create your account with stellar and have connections with the anchors which is the connection between stellar network and the existing currencies. Very easy and cheap to use.
Pros
- It connects individuals, banks, and all payments parties together.
- The transactions is very rapid between 2 to 5 seconds.
- The fee is very small that people use to say it is feeless.
- It also serves as launchpad for projects ICO's.
- The account is very easy to set up.
- Stellar foundation is doing much airdrop, so as to help many to know about cryptocurrencies.
- The transactions are always secured.
Cons
- Lots of competitors to compete with.
