Stellar(XLM) is an open blockchain protocol, aiming to provide a fast and cost-effective solution for cross-border payments and asset transfers.
The Stellar network utilizes a distributed consensus protocol called Stellar Consensus Protocol (SCP) to ensure consensus among nodes regarding the validity of transactions. This consensus algorithm enables the Stellar network to confirm transactions within seconds and at a very low cost, making it an ideal choice for cross-border payments and small-scale asset transfers. By connecting various financial institutions and payment networks, it achieves convenient, efficient, and affordable cross-border payments. XLM, as the native token of the Stellar network, serves as a bridge currency in this process, enabling quick exchanges between different assets.
The Stellar project is developed and managed by a professional team from 2014, including its core team members such as founder Jed McCaleb. Jed McCaleb is a well-known figure in the cryptocurrency field, having been involved in the creation of the Bitcoin exchange Mt. Gox and the Ripple protocol.
Above are only for introduction, not intended as investment advice.