Stellar is an open-source, decentralized protocol for electronic money to fiat money transfers that allows cross-border transactions involving any pair of currencies. The Stellar protocol is encouraged by a nonprofit, the Stellar Development Foundation.

The Stellar network has been used by companies like IBM, KlickEx, Deloitte, Parkway Projects, Tempo, Wanxiang Labs and Stripe.

In March 2019, IBM announced the launching of World Wire, a real-time worldwide payments system constructed on the Stellar network.

That is good news: by simply linking controlled financial institutions into the speed and flexibility of Stellar, World Wire intends to replace the heritage correspondent banking platform with easy point-to-point transactions. From the gate, World Wire affirms 47 monies in 72 nations, and it is just likely to rise from that point.

Original author(s) Jed McCaleb, Joyce Kim
Developer(s) Stellar Development Foundation
Initial release July 31, 2014; 4 years ago
Written in C++, Go, JavaScript, Java, Python, Ruby, Shell
Type Real-time gross settlement, currency exchange, remittance, blockchain, cryptocurrency
License Apache 2.0

Stellar is a payment network that supports use of its native asset called Lumens (XLM). According to, the non-profit behind the Stellar network:

“One lumen is one unit of digital currency, like a bitcoin.”

Stellar was initially forked from Ripple but gained its place as a unique network with the introduction of its Stellar Consensus protocol.

How was Stellar created?

Prior to the official release, McCaleb formed a site known as “Secret Bitcoin Project” searching alpha testers. The nonprofit Stellar Development Foundation was made in cooperation with Stripe CEO Patrick Collison and the job formally established that July. Stellar obtained $3 million in seed financing from Stripe.

Stellar was published as a decentralized payment system and protocol using native money, leading. In its start, the system had 100 billion stellars. 25% of these might be given to additional non-profits working toward fiscal inclusion.

Stripe obtained 2% or two billion of the first stellars in exchange for its seed investment. The cryptocurrency, initially called stellar, was afterwards known as Lumens or XLM. In August 2014, Mercado Bitcoin, the initial Brazilian bitcoin market, announced it would use the Stellar network.

From January 2015, Stellar had roughly 3 million registered user accounts on its own stage and its market cap was nearly $15 million.

The Stellar Development Foundation published an updated protocol using a brand new consensus algorithm in April 2015 that went live in November 2015. The algorithm utilized SCP, a cryptocurrency protocol made by Stanford professor David Mazières.

Back in September 2017, Stellar declared a rewards program, a portion of its Stellar Partnership Grant Program, which will award partners around $2 million value of Lumens for job development.

Back in September 2018, Lightyear Corporation obtained Chain, Inc.. The organization’s portfolio comprises StellarX.


What is Stellar? What is Stellar used for?

In 2015, it had been declared that Stellar was releasing an integration to Vumi, the open-sourced messaging system of this Praekelt Foundation. Vumi uses mobile talk time as money with the computer-based protocol.

Deloitte declared its integration using Stellar in 2016 to create a cross-border payments program, Deloitte Digital Bank. Back in December 2016, it had been declared that Stellar’s payment system had expanded to comprise, a cellular payments startup at the Philippines, ICICI Bank in India, African cellular payments company Flutterwave, also French remittances firm Tempo Money Transfer.

The cross-border payment method created by IBM comprises partnerships with many big banks such as Deloitte.

In December 2017, TechCrunch declared Stellar’s partnership with SureRemit, a Nigerian established non-cash remittances platform geared toward resolving the challenges of remittance from Africa, India, and the Middle East.

In January 2018, it had been declared that ZED Network will be creating an integrated international payments platform utilizing the Stellar distribution system and its own blockchain technology. That exact same month, Mobius Network conducted its first coin supplying (ICO) on the Stellar network. Additionally in January 2018, reluctantly gained press attention if online payment firm Stripe announced it could add support for Steller’s cryptocurrency, lumens.

what is stellar used for?

What problem is Stellar solving?

Whenever someone sends cash past foreign boundaries (e.g. sending USD in the United States to somebody in Japan accepting YEN) the trade is charged high prices (from trade rates, and also the lender’s bill ). Also, but the trade will occasionally take days to achieve its destination.

Because of this, Stellar fixes this issue by making it simpler to move money across boundaries.