What is stellar blockchain technology?
Why is stellar blockchain technology so important to meet your business requirements?
Why is Stellar network so unique?
What are the advantages of stellar blockchain?
There are several advantages of stellar blockchains, such as the following
- Open source and decentralized data
Stellar unlike ripple, doesn’t have central authority as it is an open-source and decentralized database. You need not have a central power to participate in its functions.
- High scalability and speed
The network platforms of stellar facilitate speedy transactions through consensus done via nodes. The network transaction takes place within three to five minutes. It facilitates faster transactions than other types of cryptocurrency networks since it restricts mining. It is a highly scalable platform.
- Multicurrency transactions
Another prime benefit of stellar blockchain is that you can perform transactions irrespective of the type of currency. It has its own cryptocurrency, lumen, which helps this blockchain perform financial transactions in multicurrency. It also enables the ability to use multi-signatures and smart contra and provides asymptomatic security.