Known as the public infrastructure for money, the Stellar platform has been built to make essential financial services available to a greater number of people around the world. According to Stellar, companies like Deloitte, Parkway, and Tempo are building innovative services on the network. Some of the uses of the Stellar network are micropayments, remittances, mobile money, and launching ICO’s. XLM transactions are irreversible, but it is possible to freeze issued assets. Once frozen, an asset becomes valueless to the new user, and are sent back to the originator.
The Stellar Consensus Protocol utilizes the first federated Byzantine agreement (FBA) for achieving optimal safety against ill-behaved participants. FBA is a model for achieving decentralized consensus while preserving the traditional benefits of Byzantine agreement.