Stellar (payment network) - Definition from the Hotspot Shield Encyclopedia

This is an open source payment network that serves as a value exchange.

The network was created in 2014 by Joyce Kim and Jed McCaleb and is supported by the Stellar Development Foundation which is strictly non-profit. The aim of the foundation is to promote worldwide financial access and the availability of relating literacy.

Stellar is run on servers and uses the internet to facilitate communication between users of the stellar network. The Stellar servers maintain records of all the accounts on the network, and transactions are completed by making propositions to the different servers. There are several businesses that are already making use of the Stellar payment network to serve as their financial infrastructure such as the Praekelt Foundation.