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clock Created with Sketch. 26/08/23
06:42
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Originally posted by Santo12:
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The inefficiency of traditional cross-border transfers is well known; they are frequently hampered by exorbitant fees, protracted processing periods, and burdensome intermediaries. These inefficiencies are caused by a lack of coordination among different financial systems, complicated regulatory requirements, and the involvement of numerous intermediaries, each of whom adds a new level of complexity to the process. Stellar may offer a resolution to this issue. It is a network that enables international digital payments on the blockchain and is free and open-source. By addressing the issues of excessive fees and drawn-out processes, the cryptocurrency asset on the Stellar platform facilitates cross-border transactions. In addition, Stellar is exceptional since each transaction only costs 0.00001 XLM. This makes sure that customers save more of their money because one unit of this cryptocurrency only costs a few cents at the time of writing. Additionally, the Stellar Consensus Protocol, which is said to have the following four primary characteristics: "Decentralized control, low latency, flexible trust, and asymptotic security," is used to protect the Stellar Network.
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I may not be using the technology but the project's unique step to collaborate with humanitarian organizations to bring the efficiency and scale of blockchain technology to address the real-world challenge of delivering instant and transparent digital aid at scale sounds very inspiring. $XLM is a must-held gem atm.
