XLM

Stellar is a public blockchain designed for fast, low-cost cross-border payments and asset transfers. The network was created to connect financial institutions, payment providers, and users through a shared infrastructure that can move value efficiently across different currencies and markets. Its native asset, XLM, is used to help facilitate transactions and maintain network functionality.

Technically, Stellar uses the Stellar Consensus Protocol rather than PoW or PoS. This consensus model is built around federated trust, allowing network participants to agree on transaction validity without mining. The design emphasizes short settlement times, low fees, and predictable performance, which makes the chain suitable for remittances, tokenized assets, and applications that require frequent transfers.

Stellar also supports smart contract-like functionality through its ecosystem tools and integrations, although its core focus remains payments and asset issuance. The network has been used for stablecoin transfers, financial access initiatives, and tokenization experiments, positioning it as a specialized Layer 1 in the broader crypto landscape. Its role is less about general-purpose computation and more about providing a payment-oriented settlement layer.