Stellar
The Stellar network is for the exchange of any currency, including custom tokens. Stellar has a consensus system that is more commonly known as the Stellar consensus protocol (SCP), which is based on the Federated Byzantine Agreement (FBA). SCP is different from PoW and PoS with its prime focus to offer lower latency for faster transactions.
It has four main properties:
- Decentralized property: It allows participation by anyone without any central party
- Low latency: It addresses the much-desired requirement of fast transaction processing
- Flexible trust: It allows users to choose which parties they trust for a specific purpose
- Asymptotic security: It makes use of digital signatures and hash functions for providing the required level of security on the network
The Stellar network maintains a distributed ledger that saves every transaction and is replicated on each Stellar server connected to the network. The consensus is achieved by verifying a transaction among servers and updating the...
