About Stellar (XLM)
Stellar (XLM) is a decentralised blockchain network aimed at facilitating cross-border transactions and improving financial inclusion. Its technology relies on the Stellar Consensus Protocol (SCP), which allows for rapid transaction processing without mining, enhancing efficiency and reducing...
Stellar supports various use cases focused on financial accessibility, particularly in remittances, where users can send money internationally at lower costs than traditional banks. Partnerships with financial institutions help streamline these processes, making it easier for individuals to...
The platform also enables micropayments, beneficial for content creators and service providers, and supports the issuance of stablecoins and other digital assets, aiding trade in emerging markets. Organisations like the World Bank leverage Stellar's technology to enhance financial services for...
Stellar has a total supply cap of 50 billion tokens, distributed through a model promoting accessibility and utility. This includes direct giveaways and partnerships, with adjustments made to enhance scarcity and value.
Stellar's security framework is anchored in its unique consensus mechanism, SCP, which validates transactions without mining. Using a federated Byzantine agreement model, nodes validate transactions based on a quorum of trusted nodes, enhancing resilience against attacks and double-spending while...
Since its launch in 2014, Stellar has focused on enhancing network capabilities and expanding its ecosystem. Key milestones include the introduction of SCP in 2015 and significant upgrades like Stellar Core 13 in 2019.
How to Safeguard Your Stellar (XLM) Holdings
To protect your Stellar (XLM) assets, consider using a hardware wallet like Ledger or Trezor, which keeps your private keys offline, greatly reducing the risk of online threats. Ensure your private key management involves creating strong, unique passwords and storing keys in an encrypted format,...
Stay alert to common security threats such as phishing and malware; regularly update your software and employ trusted antivirus solutions. Enhance your security by implementing multi-signature protocols, requiring multiple approvals for transactions to bolster protection against unauthorised access.
Lastly, establish a robust backup strategy by creating encrypted copies of your wallet and private keys, storing them in secure, separate physical locations to guarantee recovery in case of loss or theft.
How Stellar (XLM) Functions
Stellar operates on a decentralised blockchain framework designed to facilitate cross-border transactions and the transfer of value between various currencies. It uses a distinctive consensus mechanism called the Stellar Consensus Protocol (SCP), enabling quicker transaction confirmations without...
Transactions are validated by participating nodes, known as validators, who agree on the order and validity of transactions within a set timeframe, ensuring all nodes maintain a consistent view of the ledger. Network security is bolstered through cryptographic techniques and the necessity for nodes...
Moreover, Stellar incorporates unique technical features such as anchor-based systems that link traditional financial institutions to the blockchain, allowing for seamless currency exchanges and the issuance of digital assets.
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