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Stellar is a decentralized blockchain designed for financial services, offering fast and scalable transactions. Launched in 2014, it aims to connect global financial systems by enabling near-instant payments and currency exchanges. In 2024, Protocol 20 introduced full smart contract functionality. Its native token, Lumens (XLM), covers transaction fees and can serve as an intermediary currency. Stellar uses a unique consensus mechanism called the Stellar Consensus Protocol (SCP), which relies on trusted nodes rather than computational or staking power.

Soroban is Stellar's smart contract platform, launched in 2024 with Protocol 20. Built using Rust and WebAssembly, it enables advanced financial applications while preserving Stellar's efficiency. Soroban focuses on performance, featuring deterministic concurrency and multi-dimensional fees, allowing complex operations with predictable costs and finality in under five seconds. Unlike general-purpose platforms, it is tailored specifically for financial use cases.

Stellar excels at cross-border payments by supporting multi-currency transactions. The protocol converts money in seconds, first into XLM and then into the desired currency. This process, combined with fast consensus and low fees, makes Stellar ideal for remittances and international payments, offering significant benefits over traditional methods.

With smart contract capabilities, Stellar now supports a variety of DeFi applications, including decentralized exchanges, lending protocols, and tokenized assets, while maintaining efficiency and accessibility. Soroban's financial focus enables developers to build scalable and secure services that bridge traditional finance and blockchain technology.

No, XLM and XRP are distinct cryptocurrencies on separate networks. XLM is the native token of Stellar, while XRP is associated with Ripple. They have different founding principles, technologies, and governance structures.

Stellar ensures security through its Stellar Consensus Protocol (SCP), based on the Federated Byzantine Agreement. Unlike Proof of Work or Proof of Stake, it relies on agreement among trusted nodes, preventing double-spend attacks. Additionally, XLM holders must maintain at least one token to stay active, and the protocol makes microtransactions costly for potential flood attacks. Soroban also prioritizes security by using Rust, a language known for its safety features.

Stellar was founded by Jed McCaleb and Joyce Kim. McCaleb, who previously co-founded Ripple, left in 2013 due to disagreements over direction. He currently serves as CTO and co-founder of the Stellar Development Foundation, a nonprofit aimed at making money more fluid and markets more open. McCaleb's vision is to enable seamless movement between fiat and crypto, reducing friction in global money transfers.

Stellar (XLM) can be purchased on many major exchanges, including Binance, Coinbase, Kraken, Bittrex, Bitfinex, Upbit, and Huobi. Alternatively, users can buy Bitcoin with fiat and then trade it for XLM on these platforms.