Stellar is an open-source network for currencies and payments. Stellar makes it possible to create, send and trade digital representations of all forms of money—dollars, pesos, bitcoin, pretty much anything. It’s designed so all the world’s financial systems can work together on a single network.
Stellar has no owner; if anything, it’s owned by the public. The software runs across a decentralized, open network and handles millions of transactions each day. Like Bitcoin and Ethereum, Stellar relies on blockchain to keep the network in sync, but the end-user experience is more like cash—Stellar is much faster, cheaper, and more energy-efficient than typical blockchain-based systems.
Stellar allows a user to create a redeemable, tradable representation of any asset. Such representations are called tokens. Tokens are most useful when tied to currencies (representing dollars or yuan or euros digitally makes payments borderless and instant) but in theory, on Stellar, you could issue a token for corn bushels or gold or shares of a REIT or an hour of your time as a consultant. In a sense, Stellar offers a generalized toolkit for anyone to do what Tether did for the Dollar with their USDT.