What is Stellar Blockchain and how can it help you?

Stellar blockchain “is an open-source platform that connects banks and payment systems with people” and is designed to “move money fast, reliably, and almost at zero cost”.

What makes Stellar Blockchain different than other blockchain networks?

• It is open-source and decentralized.

• Supports thousands of transactions every second

• Multi-signatures and smart contracts can be leveraged

• It has 1% inflation each year.

• Confirmation time takes approximately 3-5 seconds.

How does Stellar Blockchain function?

Stellar transactions are added to a distributed, shared public ledger just like any other blockchain platform. Stellar uses the Federated Byzantine Agreement’s consensus algorithm (FBA) called the “Stellar Consensus Protocol”.

SCP facilitates transactions quickly at lower costs. All participants reach an agreement on a transaction’s validity in a matter of seconds. Each participant (also known as a node), who adds transactions to a global ledger, selects a mini-network from other trusted participants. Quorum Slices refer to these mini networks. Stellar networks can quickly reach a consensus about valid transactions and add them to the ledger as long as they overlap with Quorum Slices.

What are some possible business uses of the Stellar Blockchain?

• Microinsurance

• P2P Lending

• Loyalty Point Programs

• Timebanks

• Conditional cash transfer

The Stellar blockchain platform has potential and could be a model for a global, decentralized financial network that is accessible to all. It ensures participants accurately record transactions and preserves the integrity of transactions by agreeing to each other’s authenticity or validity.

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