Audit Date: 27 September 2022
ECOSYSTEM SCORE
27 September 2022
86
ALERTS
Jul 26, 2022

Testnet validator maintenance on Jul 27, 09:00-11:00 UTC

REVIEW NOTES
Sep 06, 2022

Overall Ecosystem score increased

Jun 23, 2022

Adoption score has increased as github commits were added.

Jun 21, 2022

Foundation tool score has increased as Scala SDK was added.

Jun 21, 2022

Foundation tool score has increased as Flutter SDK was added.

Jun 21, 2022

The third-party score was increased as Stellar cloud platform was added.

PERFORMANCE
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93
NODES

51 nodes

WRITE SPEED

4,637 ms

READ SPEED

1,266 ms

GAS FEES

110 stroops

UP TIME

100%

PERFORMANCE MATRIX VALUE MONITORED AT
Read Speed 1,266 ms
Uptime Percentage 100%
Node Count 51 nodes
Reddit Total Members Online 1,100 members
Reddit Total Members 212,000 members
Telegram Err 40 err
Telegram Total Subscribers Online 282 subscribers
Telegram Total Subscribers 5,274 subscribers
Telegram Ppm 13 ppm
Telegram Views Per Post 2,910 views
Discord Total Subscribers Online 10,255 subscribers
Discord Total Subscribers 133,304 subscribers
Gas Fee 110 stroops
Write Speed 4,637 ms
FOUNDATION TOOLS
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88
ESSENTIAL TOOLS
PROGRAMMING LANGUAGE SUPPORT
SDKs
DOCUMENTATION
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92
API DOCUMENTATION

Exists

100
NODE SETUP

Exists

90
SKELETON CODE

Exists

90
VALIDATOR NODES

Exists

90
GRANT PROGRAM
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50
AVAILABLE GRANT

12B lumens

ADD-ONS
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91
THIRD PARTY SERVICES
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100
PROTOCOL SUPPORT
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60
ADOPTION
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100
DEVELOPERS

1,572

REPOSITORIES

98

COMMUNITY
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100

While most third-generation platforms are focused on dApp development, Stellar emerges as a powerful blockchain ecosystem designed to support digital representations of various forms of money.

Although the initial idea of Stellar was to help enterprises and single-dev startups optimize their existing financial system and seamlessly move money across diverse markets. Stellar, at its core, is a blockchain-powered decentralized protocol that's ideal for supporting dApps like decentralized exchanges and trading dApps development through a range of developer tools, technical docs, APIs, and more.

About Stellar

Stellar is an open-source blockchain ecosystem designed to support digital assets and payments. Stellar's native currency is stellar, which pays for the network's computation fees and incentivizes the validators. Leveraging Stellar’s powerful public ecosystem, enterprises can create, mint and trade tokenized versions of real-world money, providing a common unified infrastructure where the global financial system can operate.

Being a decentralized ecosystem, Stellar also enables the developers to build customized dApps for various purposes. Stellar offers the following built-in integration to help enterprises transform their legacy operations related to money and finance:

Customized payment apps- Leverage a fully functional Stellar's global payment app that can handle multiple currencies on the Stellar network.

Decentralized asset exchanges- Use Stellar's official DEX for trading and managing cryptos, securities and forex with innovative technologies such as asset swapping.

Micropayment services- Utilize Stellar's micropayment services with cost-efficient, fast, and flat fees.

Stellar's Architecture

Stellar introduces an open-source ledger ecosystem that primarily functions as a reliable ownership tracking system. However, Stellar has a vast network of computers to check and recheck each other's work. Blocks are added to the chain once everyone verifies and agrees on the authenticity of a transaction.

While networks and nodes are the core layers of Stellar, it offers a powerful API on the top of this layer. Using API, developers do not require to understand the complexities of distributed consensus. Instead, they can connect to Stellar's API and start building assets, making markets and issuing assets on the Stellar ecosystem.

Consensus mechanism

Stellar adopts a unique algorithm named SCOP- Stellar consensus protocol. This consensus is a quorum-based Byzantine protocol, which is open for membership. Nodes on the Stellar network first learn the local configuration of entire quorum members and then recognize their node-specific quorums. With this approach, SCP addresses the limitations of proof-of-work and proof-of-stake consensus algorithms while being easily configurable, highly scalable and energy-efficient.

Key features

As an open, interoperable ecosystem- Stellar offers a range of power-packed features to simplify the creation and management of fintech products.

Digital asset creation

Stellar allows enterprises to quickly create and issue redeemable and tradable representations of any asset via tokenization. Users can trade these tokenized assets across various decentralized exchanges and marketplaces.

Peer-to-peer tokens trading

With peer-to-peer trading and ecosystem interoperability, Stellar supports the exchange of Stellar's token with any token on the network. Besides, it seamlessly connects buyers and sellers in a non-custodial approach for better trades.

Quick token swapping

Stellar allows the users to transform their currencies while sending it. It enables the users to send a particular currency and help the recipient receive the transformed version of that currency, eliminating the barriers to convenient token exchange.

Founders 

Jed McCaleb, the founder of Mt. Gox and co-founder of Ripple, launched the Stellar project in 2014 with the vision to transform the way traditional money and fintech technologies work.

Popular Use cases

Fintech 

dApps

Stellar's ecosystem has multiple use cases, from supporting the creation of digital currencies to helping enterprises tokenize their assets. However, developers can utilize the open-source ecosystem of Stellar to build innovative and customized dApps as required. These dApps can further integrate Stellar-based tokens for transparent and streamlined trading and exchange operations.

Cross-border payments

Cross-border solutions built on Stellar aim to replace the tiresome traditional currency conversion and international wire approach with a faster and more efficient approach to sending/receiving payments overseas. It employs a unique system in which two anchors- Anchor 1 and Anchor 2 bridge the gap between the service provider and receiver in a truly decentralized manner.

Exchanges

Stellar offers a single, unified infrastructure to traditional and digital finance enterprises, granting them access to a wide range of Stellar-backed assets and local currencies. Institutions can leverage Stellar to issue assets and regulate payments within an interoperable ecosystem consisting of diverse projects and native currencies.

Roadmap

Based on their publicly available 2022 roadmap, the Stellar community is dedicated to performing research to shepherd the code development, improving smart contracts' existing capabilities, and launching new products. Thereby strengthening the Stellar ecosystem to scale higher growth.