What is Stellar(XLM)?

Stellar (XLM) is a decentralized peer-to-peer (P2P) network founded in 2014 by The Stellar Development Foundation, often known as Stellar.org. The network went live in 2015 to integrate the world's financial systems and establish a protocol for payment providers and financial institutions. The platform is intended to move financial resources quickly and reliably at the lowest possible cost. Stellar connects people, banks, and payment processors while also allowing users to produce, send, and trade numerous types of cryptocurrency.

The network's digital currency - XLM or Lumens - serves as its foundation. XLM is utilized as an intermediate currency for activities and to pay transaction fees. The protocol changes money in a matter of seconds, first into XLM and subsequently into the requested currency.

Who is the founder of Stellar?

The founder of Stellar is Jed McCaleb. Jed McCaleb is a well-known figure in the cryptocurrency industry and has been involved in several notable projects. He is also a co-founder of Ripple, another popular cryptocurrency platform. McCaleb founded Stellar in 2014 to create a decentralized financial network that could facilitate fast and low-cost cross-border transactions. Stellar's native cryptocurrency is called Lumens (XLM). McCaleb has played a key role in shaping Stellar's development and promoting its adoption within the financial industry.

What makes Stellar unique?

The network's digital currency, XLM or Lumens, serves as its foundation. XLM serves as an intermediary currency for operations and is also used to pay transaction fees. The protocol transforms money in a few seconds, first into XLM and then into the required currency.

The Stellar payment mechanism is built on distributed ledger technology, which is an open-source creation that is owned and distributed by the community. The Stellar platform's crypto asset aids in cross-border transactions, addressing the issues of high fees and lengthy procedures. XLM is more concerned with assisting individuals in transferring money than with institutions. As a result, Stellar provides access to financial systems, allowing consumers to transmit money around the world at minimal cost and promptly.

Explain the network security of Stellar.

The network is kept at a high level of security. To remain active on the network, XLM holders must have at least one token. This nuance achieves a global goal: the efficient and timely execution of network transactions. Furthermore, Lumens protects Stellar Network from flood attacks by making microtransactions too expensive for hackers to profit from, hence keeping the network safe from significant threats.

What are the future developments of Stellar?

The Stellar Development Foundation is dedicated to positioning the Stellar network for long-term growth and success by focusing on scalability, innovation, participation, and diversity. Stellar aims to address the limitations of existing financial infrastructure by integrating cryptocurrencies and new technologies into the current financial ecosystem. In its roadmap for 2023, Stellar aims to deliver real-world utility by enabling the seamless use of trusted digital assets and providing accessible global on and off-ramps for users. 

Additionally, Stellar Cyber, a subsidiary of Stellar, offers a Next-Generation Security Operations (SecOps) platform that includes Network Detection and Response (NDR) and SIEM security tools. This platform simplifies security operations and provides comprehensive security functionality. Leveraging artificial intelligence, Stellar Cyber's Open XDR platform analyzes and correlates collected data to identify cyber threats, allowing security teams to conduct effective investigations quickly. Overall, Stellar and its subsidiary Stellar Cyber are working towards enhancing financial systems and cybersecurity through their innovative approaches and comprehensive solutions.

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