Stellar payment network XLM
- Stellar exchange founded in early 2014
- Stellar protocol is supported by a nonprofit
- Stellar was based on the Ripple protocol
Stellar payment network – Stellar Development Foundation then created an updated version of the protocol
Stellar is an open-source protocol for value exchange founded in early 2014 by Jed McCaleb (creator of eDonkey) and Joyce Kim. Its board members and advisory board members include Keith Rabois, Patrick Collison, Matt Mullenweg, Greg Stein, Joi Ito, Sam Altman, Naval Ravikant and others. The Stellar protocol is supported by a nonprofit, the Stellar Development Foundation
Stellar payment network
At launch, Stellar was based on the Ripple protocol. After making several changes to critical consensus code, the Stellar network forked. In the aftermath, Stellar co-founder Joyce Kim claimed this was a flaw in the Ripple protocol but this statement was challenged in a blog post by Ripple Labs CTO, Stefan Thomas.
The Stellar Development Foundation then created an updated version of the protocol with a new consensus algorithm, based on an entirely new code. The code and whitepaper for this new algorithm were released in April 2015, and the upgraded network went live in November 2015.
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