Stellar
Stellar is a decentralized, public blockchain offering fast, affordable, and energy-efficient tools for developers, supporting over 81,000 onramp locations globally and integrating the Rust-based smart contracts platform, Soroban.
About Stellar Network
Stellar is a decentralized, public blockchain designed to provide tools for developers to create experiences that are more like cash than traditional cryptocurrencies. The Stellar network is notable for being faster, cheaper, and more energy-efficient compared to many other blockchain-based systems. With a ledger closing time averaging 5.8 seconds and a transaction cost that is a fraction of a US penny, Stellar is positioned as a practical choice for financial applications.
Stellar Community Fund and Grants
The Stellar Community Fund is a significant initiative supporting developers and startups building on the Stellar network and its integrated smart contract platform, Soroban. From November 2022 to December 2023, Stellar issued over 255 grants. These funds are used to foster innovation and development within the ecosystem, supporting a range of projects that leverage the unique features of the Stellar network.
Smart Contract Platform: Soroban
Soroban is Stellar's Rust-based smart contracts platform, designed for scale and sensibility. Integrated tightly with the Stellar network, Soroban provides a developer-friendly environment that includes a Rust SDK, CLI, and an RPC server. Following a successful validator vote, Soroban launched on Mainnet on February 20, 2024, marking a significant milestone in Stellar's capability to support complex decentralized applications.
Global Reach and Onramp Locations
The Stellar network boasts over 81,000 onramp locations globally, allowing users to convert cash into digital assets and vice versa seamlessly. MoneyGram locations, integrated with the Stellar network, further enhance this functionality by enabling deposits and withdrawals of cash from digital assets. Stellar's anchor network extends its reach to over 180 countries and supports more than 20 digital assets, facilitating cross-border payments and fiat-backed digital asset transactions.
Stellar's Role in Humanitarian Aid
Stellar Aid Assist is an initiative launched by the UNHCR using the Stellar network to facilitate bulk payments, particularly in Ukraine. This platform leverages the network's low costs and fast transaction times to deliver cash assistance quickly to vulnerable populations. This initiative underscores Stellar's potential in humanitarian aid, providing an efficient mechanism for delivering financial help.