Introducing Stellar Blockchain: A Groundbreaking Platform in the DeFi Ecosystem

Finding a trading or exchange platform for all types of currencies, from conventional fiat currencies to digital tokens, is quite impossible. That’s because most decentralized platforms prefer to focus on a specific currency type, thereby limiting the options for traders and investors. Also, they have to switch back and forth between diverse platforms to utilize their assets properly and make the best out of the crypto and fiat worlds. Stellar blockchain was launched in the market to resolve these problems and expand the trading horizons for investors.

Considered to be a much faster platform, it is backed by decentralized blockchain technology and extends all the DeFi features to traders and investors. Even though it opens a sea of opportunities, not everyone is aware of this groundbreaking platform, let alone its operations, consensus protocol, and other attributes. As a result, they fail to make the best out of all the currencies and get higher returns on their investments. So, in this following discussion, we have presented a detailed guide on Stellar, its blockchain technology, operations, and other related facts that traders should know beforehand.?

Table of Contents

• What is Stellar? A Comprehensive Overview of the Stellar Network
• Lumens (XLM): Stellar’s Personal Crypto Token
• What Makes Stellar Different From Other Blockchains?
• Stellar Consensus Protocol: The Backbone of The Stellar Network
• Conclusion?

What is Stellar? A Comprehensive Overview of the Stellar Network

Stellar is a decentralized platform for exchanging different types of currencies, including fiat currency pairs and crypto tokens on a fast and highly secured network. Anyone with a Stellar address can join the exchange platform and easily send the currencies or initiate a trade based on their convenience. Since it is based on DeFi technology, no central authority is involved in governance and operational control, thereby providing traders to complete transactions at lightning speed.?

To understand its operation, you must know about the Stellar network. There are three different sub-networks, each having a dedicated function. These are:

• Futurenet: This is the development network used by tech-savvy professionals to add new features to the blockchain or the exchange platform and modify the existing features.?
• Testnet: Before the final deployment of any developed feature, it is tested on the Testnet network where virtual currencies are used for the transactions.?
• Mainnet: This is the public network that runs on the production environment and is available for real-time users for trading or investing in different forms of currencies on a decentralized blockchain.

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