Who are the founders of Stellar ?
Stellar was founded in 2014 by Jed McCaleb, a well-known figure in the cryptocurrency space who also co-founded Mt. Gox, and Joyce Kim, a social entrepreneur and venture capitalist.
What was the purpose of creating Stellar ?
The founders of Stellar aimed to create a financial system that is inclusive and accessible to everyone, regardless of their location or financial background. The original purpose was to offer a platform for micropayments, but it has since evolved into a more versatile platform that can be used for a wide range of financial applications, including remittances, mobile banking, and cross-border payments.
Who supports Stellar ?
Stellar has a large and growing community of supporters, including individuals, institutions, and organizations from all over the world. Some notable supporters include Stripe, a payment processor that has invested in the platform, and IBM, which has partnered with the company to develop new financial solutions using blockchain technology.
What is the vision of the company ?
The vision of Stellar is to create a more equitable and accessible financial system that empowers individuals and organizations to participate in the global economy. Through its platform, Stellar aims to provide access to financial services for those who are currently excluded from the traditional financial system, such as those living in developing countries or those without access to traditional banking services.
What are Stellar tokens and how do they work (XLM)?
Stellar tokens, also known as Lumens (XLM), are the native currency of the platform. Lumens serve several important functions within the Stellar ecosystem, including serving as a bridge currency to facilitate cross-border transactions and providing a means of distributing fees to network participants.
In addition to Lumens, it also supports the issuance and trade of custom tokens on its platform. These custom tokens can represent a wide range of assets, including digital and fiat currencies, commodities, and securities.
How does Stellar differ from other cryptocurrencies ?
Stellar differs from other cryptocurrencies in several key ways. First, Stellar is designed to be a platform for financial applications, while many other cryptocurrencies, such as Bitcoin, are primarily focused on serving as a decentralized store of value. Second, it is focused on making financial services more accessible and inclusive, while many other cryptocurrencies are focused on privacy and decentralization. Finally, it operates on a consensus algorithm that is designed to be energy-efficient and environmentally friendly, while many other cryptocurrencies, such as Bitcoin, use energy-intensive proof-of-work consensus algorithms.
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