Stellar is an open blockchain network and protocol designed for fast, low-cost transfer and exchange of digital representations of value, including fiat-backed tokens and stablecoins.
Semantic Classification
Content
- Stellar uses a federated agreement consensus mechanism to reach finality quickly without proof-of-work mining, and it includes a built-in decentralised exchange and asset issuance. Anchors connect on-chain tokens to off-chain currencies.
- The network targets remittances and cross-border payments where speed and cost matter, and it has been used to issue fiat-backed stablecoins. It sits in the broader payment network and stablecoin space.