Stellar is an open network that allows users to create, send or trade digital representations of all currency forms, including digital currencies, I.e., Bitcoin and Ethereum. Stellar was launched in 2014, and it has managed to process over 450 million operations by more than four million individual accounts. Most large corporations and small start-up companies use stellar to move currencies and access new markets. It's designed to create a shared platform for all financial systems to work together on a single network. A single individual or corporation doesn't own the network. This implies that its software runs through a decentralized network and supports multiple transactions in a single day.
Like most digital currencies, stellar relies on a blockchain system to maintain the network in sync. A network of independent computers check and re-check the operations of others. This means it doesn't have a central authority; therefore, nobody can secretly alter or stop the network to favor them. Stellar Utilizes a Stellar Consensus Protocol (SCP) algorithm to maintain them in sync network. SCP aims to surpass other validation methods by providing a faster, cheaper, and more energy-efficient solution.
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