Stellar

About Stellar

Stellar is a large network that facilitates quick and easy money transfers between people, regardless of their location. It's mainly used for moving money and assets across borders.  The network uses a unique type of token known as Lumens (XLM). It's primary role is to pay the fees for transactions on the network, and to reduce the amount of spam that occurs on the network by bad people. This allows the network to continue to function in a smooth and safe manner. One of the unique things about the Stellar network is that they do not require mining in order to come to a consensus, so transactions are extremely quick. This makes it ideal for money transfers and transferring stablecoins. It helps in token generation, distribution, cross-currency linking and facilitates worldwide money transfers to create a single network of transactions. Basically, Stellar can be considered as a payment system powered by XLM but featuring an underlying blockchain technology.