What is the most commonality between the most rapidly growing blockchain platforms? The answer is not too difficult when we take a study of the most popular and new blockchain platforms. The emerging blockchains are in the process of betting on three winning combinations : greater speed, scalability, and lower costs for transactions as compared to their earlier predecessors. Additionally, Stellar blockchain is in the same class. If the emphasis isn’t adequate in the three areas mentioned above it will be nearly impossible for a blockchain-based platform to gain traction.

Stellar is a payment method built on distributed ledger system. It permits swift, cross-border transactions the currencies of any two. It is, in many aspects it’s like other blockchain-based cryptocurrency.

Stellar Blockchain is a technology that connects payment and banking systems, banks as well as people. It is designed to transfer money swiftly, securely and with virtually zero cost.

Stellar Lumen (XLM) is the national digital currency of Stellar is the powerhouse behind the entire operation of this blockchain. When the Stellar network 100 billion XLM/Stellar Lumens were created.

How Does Stellar Blockchain Work?

As with other blockchain platforms that is used, transactions that are made on Stellar’s Stellar network are integrated into the public, shared ledger. Stellar utilizes an algorithm to make consensus that is that is based in the Federated Byzantine Agreement (FBA) which is known as”the Stellar Consensus Protocol” (SCP).

SCP allows for quick transactions for less as all participants on the network coming to an agreement regarding the validity of a transaction in a matter of seconds. Every participant (called”a node) that assists in adding transaction data to the ledger global, selects his or her own mini-network from other trustworthy participants. These mini networks are referred to as Quorum Slices.

Read More : https://www.leewayhertz.com/stellar-blockchain/