#LUMEN STELLA PROELIA SOFTWARE#
Running a Node The software used to power the Stellar network is called Stellar Core, and it can be run in different ways depending on a user’s needs. More details can be found on Stellar’s Medium or in this technical explainer.
#LUMEN STELLA PROELIA UPDATE#
Stellar’s biggest update occurred in 2015 when it replaced the mechanism it used to keep the computers running its software in agreement about the state of its ledger with a custom-built alternative.īased on a concept called federated Byzantine agreement, a type of consensus method that predates the one designed for Bitcoin (BTC), the Stellar Consensus Protocol enables nodes to vote on transactions until quorums are reached. However, Stellar has since made technical changes that differentiate its offering.
#LUMEN STELLA PROELIA CODE#
More information about the Stellar Development Foundation’s leadership team can be found on the project’s official website.Īt the time of its launch, Stellar copied the code used to power the XRP Ledger, meaning it inherited much of its design and features.
Joyce Kim, founder of Stellar and former Executive Director of the SDF. Other notable contributors to XLM’s technology and ecosystem, include:ĭavid Mazieres, author of the Stellar consensus protocolĭenelle Dixon, the SDF’s Executive Director and CEO McCaleb would go on to serve as the chief technology officer (CTO) of Ripple, the company that today sheppards the development of the XRP Ledger, until 2013 when he left to create Stellar. McCaleb notably founded the first successful bitcoin exchange, Mt Gox, and designed the XRP Ledger. The individual credited with creating lumens is Stellar co-creator (and Stellar Development Foundation founder) Jed McCaleb.
-18w-330_100mm-nw-4000k-high-lumen.jpg "lumen stella proelia")
Lumens now trade under the ticker symbol XLM on exchanges like Kraken, and as a result, they are often called XLM for short. Stellar is the name for the distributed computer network on which lumens are the cryptocurrency required to send transactions. In this way, Stellar shares similarities with the XRP Ledger (and its cryptocurrency, XRP), which is also meant to provide a protocol for payment providers and financial institutions.īut Stellar has also sought to position itself as a kind of decentralized exchange, as its ledger has what is effectively a built-in order book that keeps track of the ownership of Stellar assets.ĭevelopers have increasingly sought to make Stellar a marketplace for assets issued on its own protocol, with features that allow users to manage buy and sell orders and set preferred assets when settling trades. These assets can then be traded between users (across borders) with less friction using its cryptocurrency, lumens (XLM). The idea is anyone using a service powered by Stellar could transfer everything from traditional currencies to tokens representing new and existing assets. The difference is that Stellar enables these services by incentivizing a distributed network of computers to run a common software. As it did at its 2014 launch, Stellar allows users today to send money and assets in ways that have traditionally been the domain of payment providers.
So while answers to the question “What is Stellar?” may change depending on who you ask, that isn’t the fault of the technology. Stellar seeks to reimagine the market for currency and asset transfer by creating a distributed network that’s been described as everything from a payment rail to an exchange.
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