“With a team of top technology and finance professionals, the nonprofit Stellar.org expands access to low-cost financial services to fight poverty and maximize individual potential.” -from the Stellar website
Stellar is an Open Source, Distributed Payments Structure
Stellar is a complex distributed system that enables financial transactions that resolve in approximately 3-5 seconds. It operates on what's known as the federated Byzantine Agreement, which differs from the way Bitcoin and Ethereum Blockchains work. This method of consensus was created by Professor David Mazieres. To read his white paper, click below.
THE STELLAR NETWORK ALLOWS INTEGRATIONS WITH THIRD PARTY APPS LIKE MONETRAN FOR THINGS LIKE:
The many advantages of Monetran / Moneda
- Monetran is SEC compliant and available to U.S. investors
- The Stellar Network enables transactions in 3-5 seconds
- Moneda is backed by a portfolio of financial instruments
- Monetran provides very economical transaction fees
- Monetran enables micropayments – even those less than $1.
- Moneda’s stability benefits both customers and merchants
- Moneda functions as a store of value and increases gradually
- Monetran enables P2P international transfers of any amount
- Moneda does not require mining which wastes valuable resources
- Will be available in areas underserved in financial systems
Typical proof-of-work blockchains (Bitcoin, Ethereum) require a vast amount of energy to verify or “mine” transactions. Warehouses of Bitcoin mining rigs run 24 hours a day, consuming more power than the whole of Argentina. When all other cryptocurrencies that require mining are factored in, the electrical drain is absolutely mind boggling.
The Monetran system has been built on the Stellar Network, which utilizes a Federated Byzantine Agreement to reach consensus, thereby eliminating the need for mining. No matter how popular Moneda gets, it will not waste a single watt of one of the world’s most precious resources.