Within the Stellar Blockchain network, anchors or nodes like in a blockchain are responsible for facilitating funds transfer. Anchors also provide Stablecoins - fiat-backed tokens that the users can utilize. There are several anchor businesses within this landscape. Some notable anchors include Cowrie, Settle, and Tempo. Three standard functions are requisites for a successful blockchain network - reduced transaction costs, speed, and scalability. For the network to succeed, these are paramount. And the Stellar Blockchain Network is one that meets them all.
Features of the Stellar Blockchain :
• The top factors determining a good blockchain network - decentralization and open-source are met in the Stellar Network/ database.
• It has a transaction time that is quite unsurpassable. It only takes 3 to 5 seconds to initiate and process a transaction.
• The XLM token Lumen has an annual inflation rate of 1%.
• More than a thousand transactions can be carried out at a time on this platform.
• Smart contracts and multi-signatures are enabled in the Stellar Blockchain.
In today’s scenario, regular remittance providers, Fintech companies, and traditional banks face a lot of friction and deal with the consequences of incurring several costs that come with transferring money through international borders. Launching a Remittance payment gateway on the Stellar Blockchain will discard all these liabilities and provide a streamlined and seamless transfer method that users will engage with continuously.
