The Stellar Network has many appealing properties that made it our payment network of choice. We chose Stellar based on the network’s efficiency, accessibility, and decentralization:
1. Transaction Efficiency
The Stellar Network uses a consensus protocol that involves trusted validators that confirm transactions. Through this protocol, the network is able to confirm transactions in seconds at a very low fee. This provides Stellar with a strong competitive advantage to Bitcoin or Ethereum, where transactions can take up to an hour to confirm with transaction fees that vary significantly with network congestion.
2. Network Accessibility
Similar to Ethereum, anyone can launch a token on the Stellar network. That token could represent any conceivable asset, commodity, or security with many customizable parameters. For example, you could create a Bitcoin proxy token, which would allow the transfer of Bitcoin credits across the network by providing a service for deposits and withdrawals as an anchor.
The Stellar Development Foundation (SDF) has also provided the community with many helpful guides on how to access and interact with its feature rich network.
3. Decentralized Exchange
In addition to sending and receiving any tokens across the network, you are also able to propose and accept offers for trades. This allows for direct peer-to-peer trading as a safe alternative to centralized exchanges that can be hacked.
Summary
We believe Stellar is one of the most efficient and accessible payment networks. The Stellar Network enables fast and low cost transactions, flexibility to create custom tokens, and the ability to trade these tokens peer-to-peer through a decentralized exchange. We are excited to be building the BlockEQ platform on top of Stellar so we can provide users with a more seamless trading and payments experience.
Download your wallet today at https://www.blockeq.com/ and follow us on twitter for our latest updates https://twitter.com/block_eq
Jon Lister, Co-Founder of BlockEQ | Twitter |
