Why stellar For LocalXpose?

LocalXpose Inc
Apr 28, 2018 · 2 min read

Before talking about why we chooses stellar, we will give a brief introduction about it.

Stellar was born in 2014 by Jed McCaleb and Joyce Kim, its network has distributed blockchain based ledger and database that facilitates cross-asset transfers of value, including payments. The native digital asset of Stellar is called Lumens (XLM). The basic idea behind Stellar is to be a cryptocurrency platform that will help connect people, payment systems, and bank, enabling the transfer of funds quickly, reliably, and for a fraction of a penny.

FACT: Stellar was originally based on the Ripple protocol and model. This can help us understand why Ripple and Stellar have so many common traits. It is correct to say “Stellar is essentially a more open source and decentralized Ripple.””

So, why we use stellar?

We can think of Stellar as infrastructure of payments, it connects banks, people and payment systems around the world.

One of the main advantages of stellar is that it has built-in Decentralized Exchange which has the assets or tokens that people have added to the network.

In addition to that, stellar network can handle nearly 1,000 transactions per second, faster than Ethereum which handles 15 per second. Also, the average fee on the Ethereum network is around $0.30, but on the stellar network it remains a fraction of a penny.

When we come to stellar security features it has main two key security points.

First it allows the issuers to reserve the ability to freeze tokens in the event there is misuse. Second feature is that organizations have the option to choose which nodes can validate their transactions.

Those features makes stellar a great platform for ICOs especially if your ICO does not require Turing-complete smart contracts.

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade