The Stellar network is a blockchain-based distributed ledger network that connects banks, payment systems and people to facilitate low-cost, cross-asset transfers, including payments. Stellar has its own cryptocurrency called lumens, denoted by the symbol XLM. All three terms Stellar, Lumens, and XLM are used interchangeably but stellar is a blockchain network, Lumen is a cryptocurrency and XLM is a trade symbol.
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Transactions taking place on the Stellar network are added to a distributed and public ledger accessible to everyone worldwide. Stellar's consensus method allows transactions quickly and cost-effectively, with everyone on the network reaching an agreement on transaction validity in a matter of seconds. Each participant that helps to add stellar transactions to the global ledger is called a node, and chooses its own mini network of other trusted participants that it accepts. As long as these mini networks overlap, the Stellar network can generally agree on what transactions are valid and these transactions can be added very quickly to the ledger.
Stellar does not depend on any person or institution. No organization can control, shut down, monopolize or retain data. Stellar is a global payment system rather than a national payment system. Thus, users can overcome local economies and interact directly with the world market. At Stellar, the type of transactions of individuals is not limited; For example, anyone in the world can own, hold, and send dollars, euros, or yen.
Stellar Lumens mining cannot be done. The maximum number that can be placed on the market is uncertain. Stellar Lumens' target is the financial sector just like Ripple. With this feature, it allows many transactions to be made in a short time instantly and with this feature, it can create differences in the financial sector.