Stellar is an open-source protocol for value exchange founded in early by Jed McCaleb creator of eDonkey and Joyce Kim. Bitcoin settlement networkJed McCalebfounder of Mt. Gox and bitcoin settlement network of Ripplelaunched the network system Stellar with former lawyer Joyce Kim. Bitcoin settlement network its launch, the network had billion stellars. The Stellar Development Foundation released an upgraded protocol with a new consensus algorithm in April which went live in November Nonprofit organizations and businesses are implementing Stellar as their financial infrastructure, particularly in the developing world.
One such example is Praekelt Foundation. Oradian, a cloud-based banking software company, also plans to use the Stellar network to connect microfinance institutions MFIs in Nigeria. In Decembermore partnerships were announced, including in the Philippines, India and West Africa. InStellar announced their affiliation with Keybase to eliminate the need of extended cryptographic bitcoin settlement network for international transactions.
In Marchthe DigitalBits Project announced that they had forked bitcoin settlement network Stellar software to support the loyalty and rewards market as their initial use case. Stellar is an open-source protocol for exchanging money using blockchain technology. The platform is a distributed ledger maintained by a consensus algorithm, which allows for decentralized control, flexible trust, low latency, and asymptotic security.
Servers run a software implementation of the protocol, and use the Internet to connect to and communicate with other Stellar servers, forming a global value exchange network. The consensus process happens at a regular interval, typically every 2 to 4 seconds.
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