Stellar is an open-source blockchain network designed to make global payments faster, cheaper, and more accessible. Launched in 2014, it enables individuals, businesses, and financial institutions to send, receive, and exchange digital assets within seconds while paying only minimal transaction fees. The network's native cryptocurrency, Stellar Lumens (XLM), is used to pay transaction fees, prevent network spam, and facilitate the exchange of different assets. Unlike many blockchains that focus primarily on decentralized applications, Stellar was built with cross-border payments and financial inclusion as its primary goals. It also supports tokenization, allowing organizations to issue digital versions of currencies, stablecoins, and other assets. With the addition of the Soroban smart contract platform, Stellar has expanded into decentralized applications while maintaining its reputation for speed, efficiency, and low-cost transactions.
| Blockchain | Stellar |
|---|---|
| Native Coin | Stellar Lumens (XLM) |
| Launch Year | 2014 |
| Consensus Mechanism | Stellar Consensus Protocol (SCP) using Federated Byzantine Agreement |
| Transaction Speed | Typically settles transactions in 3–5 seconds |
| Transaction Fees | Extremely low, usually a fraction of a cent |
| Primary Purpose | Fast, low-cost global payments and asset transfers |
| Smart Contracts | Supported through the Soroban smart contract platform |
| Tokenization | Supports issuing custom tokens, stablecoins, and real-world assets |
| Energy Consumption | Very low, as the network does not rely on mining |