Stellar is an open and distributed payment infrastructure. In general, it is a technology that is supposed to connect (via the network) people, all payment systems and banks, with the consideration of developing markets. A solution like that enables, for just a few cents, a quick and practically reliable execution of currency transactions and of all other assets. And all of that thanks to tokens called Lumens (XLM).
The entire network consists of servers powering Stellar Core, which give the possibility of integrating financial entities with the whole network. In practice, these servers activate the protocol (connecting it to the Internet directly) through which the Stellar communicates with other servers, creating a global network of value transfer. Every server "stores" the records of all "accounts" in the network. These records are stored in a database called LEDGER. The process of consensus takes place in rather regular intervals (from two to four seconds) and thanks to that every copy of the server's logbook is synchronized.
Because of the very low costs (a few pence) this cryptocurrency is perfect for all micropayments. A type of protocol called "Stellar Consensus Protocol" is implemented here. The main task of this protocol is to establish a network, in which decentralization, trust in participants or consensus between servers (network users) will take only a few seconds.
Stellar was created by Jed McCaleb (creator of the eDonkey platform) and by Joyce Kim. The Stellar protocol is supported by a non-profit organization - the Stellar Development Foundation. At the beginning, it was based on the Ripple protocol (one of the most popular and most important cryptocurrencies), but since then many changes were added to its code.
Lumen is a unit of the Stellar network, defining how the network refers to the element of value stored in the financial books. In 2014, 100 billion of these units were launched, and in 2015 (with the start of the modernized network), the name was changed from Stellar to Lumen (the aim was to distinguish it from the name of the network and organization).
The maximum number of coins that can be extracted is: 103 748 462 367 XLM.
Stellar News is a category in which you will find more amazing information and trivia about this cryptocurrency. It contains interesting information about the world of virtual tokens (with special emphasis on XLM), that will be useful to all crypto-supporters.
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