Summary
TLDR: Stellar, a blockchain-based platform, has announced the launch of a new protocol called Stellar Protocol 18. This upgrade aims to improve the efficiency and scalability of the Stellar network by introducing new features such as “liquidity pools” and “claimable balances.” The protocol upgrade also includes enhancements to Stellar’s smart contract capabilities, making it easier for developers to build decentralized applications (dApps) on the platform. Stellar Protocol 18 is expected to bring significant improvements to the Stellar network, making it more competitive with other blockchain platforms.
Key Points
1. Stellar is a decentralized platform that enables fast and low-cost cross-border transactions. It uses its native cryptocurrency, Lumens (XLM), to facilitate these transactions and maintain the network.
2. Stellar’s consensus algorithm, called the Stellar Consensus Protocol (SCP), allows for decentralized control and decision-making. This ensures the network’s security and prevents any single entity from having complete control over the system.
3. Stellar aims to provide financial services to the unbanked and underbanked populations by connecting financial institutions, payment systems, and individuals across the globe. It seeks to improve financial inclusion and promote economic growth by making it easier and more affordable to send money internationally.