CONCEPT OF STELLAR BLOCKCHAIN

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The goal of Stellar and the team dedicated to creating it is to enable people to receive and send money around the world securely and smoothly. It links payment services, banks, and users and integrates them to make money transfer accessible. Using apps or software built on the Stellar Blockchain, mobile money apps can be made interoperable, resulting in lower transaction costs and increased efficiency. The Stellar Blockchain utilizes an open and decentralized database, which enables it to maintain a 3-5 second confirmation time. Since the Stellar blockchain is not written in a Turing complete language, the transaction rate is also relatively high. 



Let's understand a situation of how the Stellar blockchain is used to facilitate cross-border payments. For instance, you wish to send a certain amount of USD to a business associate (John) based in Europe and receive the funds in EUR. Your bank, as well as John's, are both connected to the Stellar network. 


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