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Stellar is an open-source protocol for value exchange founded in early by Jed McCaleb creator of eDonkey and Joyce Kim. Stellar is an open-source protocol for exchanging money. The consensus process happens at a regular interval, typically every 2 to 4 seconds. Nonprofit organizations and businesses are implementing Stellar as their financial infrastructure, particularly in the developing world.
One such example is Praekelt Foundation. Oradian, a cloud-based banking software company, also plans to use the Stellar network to connect microfinance institutions MFIs in Nigeria. In December , more partnerships were announced, including in the Philippines, India and West Africa. In the month of October , Stellar and IBM created a partnership to increase the speed of global payments. In , Stellar announced their affiliation with Keybase to eliminate the need of extended cryptographic addresses for international transactions.
In March , the DigitalBits Project announced that they had forked the Stellar software to support the loyalty and rewards market as their initial use case. At launch, Stellar was based on the Ripple protocol. After making several changes to critical consensus code, the Stellar network forked. The Stellar Development Foundation then created an updated version of the protocol with a new consensus algorithm, based on entirely new code.
The code and whitepaper for this new algorithm were released in April , and the upgraded network went live in November From Wikipedia, the free encyclopedia. This article contains content that is written like an advertisement. Please help improve it by removing promotional content and inappropriate external links , and by adding encyclopedic content written from a neutral point of view.
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