Ecex Exchange Press Release 2018–07–27
Ecex Exchange and Stellar integration
Ecex Exchange has made strategical decision to integrate with Stellar blockchain. On first step Lumen (XLM) will be listed. This opens in second step door to all Stellar tokens and assets. We have already contacts of some teams who are interested in listing and airdropping Stellar based tokens.
This will start of widening Ecex Exchange from singe blockchain assets to multi- blockchain assets trading platform. Stellar is particularly interesting because of the financial targeting, speed and low transaction costs. Also approach to solve real life financial tasks like bridging systems, multi-signatures, handling different types of assets are especially important to business like Exec Exchange develops.
Exact timeframe is not set, but we target to introduce new functionality for the end of August 2018
Stellar is an open-source protocol for exchanging money using blockchain technology. The platform’s source code is hosted on Github. The Stellar network can quickly exchange government-based currencies with 2 to 5 second processing times. The platform is a distributed ledger maintained by a consensus algorithm, which allows for decentralized control, flexible trust, and low latency.
Servers run a software implementation of the protocol, use the Internet to connect to and communicate with other Stellar servers, forming a global value exchange network. Each server stores a record of all “accounts” on the network. These records are stored in a database called the “ledger”. Servers propose changes to the ledger by proposing “transactions”, which move accounts from one state to another by spending the account’s balance or changing a property of the account. All of the servers come to agreement on which set of transactions to apply to the current ledger through a process called “consensus”. The consensus process happens at a regular interval, typically every 2 to 4 seconds. This keeps each server’s copy of the ledger in sync and identical.