What is Stellar?

Stellar is an open-source, decentralized network co-founded in 2014 by Jed McCaleb and Joyce Kim. It aims to facilitate low-cost and rapid transfers of value across various currencies and assets. Managed by the non-profit Stellar Development Foundation, Stellar connects banks, payment systems, and individuals to enhance financial access for underserved populations. The network employs the Stellar Consensus Protocol along with a Federated Byzantine Agreement, allowing nodes to select trusted peers to reach consensus on the ledger's state.

The native token of the network, XLM, plays a crucial role in maintaining its integrity by serving as an intermediary for efficient exchanges and enforcing minimum balance requirements. Stellar incorporates features such as a built-in distributed exchange for asset trading and the Soroban platform for smart contract development. There is no inflation for XLM, as the community opted to disable the automatic creation of new tokens. The project's operations are supported by a global community of validators and developers.