If Bitcoin is the Internet of Money (a decentralized trustless network designed to bring financial independence to people worldwide without money having to go through any centralized control) and Ethereum is the Internet of Software (a platform for executing code and creating decentralized applications) , Stellar is an open-source, decentralized payment protocol that allows for fast, cross-border transactions between any pair of currencies.
What is StellarPay?
StellarPay is a digital token native to the Stellar Blockchain.This means you have complete control over your coins can send, receive, store, and trade SteallarPay. StellarPay is a platform that connects banks, payments systems, and people. Integrate to move money quickly, reliably, and at almost no cost.
What is XLB?
XLB is shorthand for StellarPay.Most currencies have 3-letter codes (USD, EUR, AUD, BTC,XRP,XLM,ETH) as an international standard XLB’s starting price set at 0.1 XLMXLB is shorthand for StellarPay. Most currencies have 3-letter codes (USD, EUR, AUD, BTC,XRP,XLM,ETH) as an international standard XLB’s starting price set at 0.1 XLM
How does Stellar’s blockchain work?
Transactions that take place on the Stellar network are added to a shared, distributed, public ledger, a database accessible by anyone worldwide. In order to reach consensus on transactions so quickly and accurately, Stellar uses its own unique consensus method.
How does Stellar’s consensus method work?
Stellar’s consensus method allows for fast and cheap transactions, with everyone on the network reaching agreement about transaction validity within a few seconds. Every participant (called a node) who helps add Stellar transactions to the global ledger chooses its own mini-network of other trusted participants that it agrees with. As long as these mini-networks (called quorum slices) overlap, the overall Stellar network can reach agreement about which transactions are valid and can be added to the ledger very quickly. You can read about how Stellar’s consensus mechanism works in greater detail in this article.