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Stellar is an open source protocol for value exchange. [1] It was founded in early 2014 by Jed Mccaleb and Joyce Kim. [2] [3] [4] [5] [6]The Stellar protocol is supported by a nonprofit, the Stellar Development Foundation. The Foundation’s mission is to expand financial access and literacy worldwide.

At launch, Stellar was based on the Ripple. After systemic problems with the existing consensus algorithm were discovered[7], Stellar created an updated version of the protocol with a new consensus algorithm. The code and whitepaper for this new algorithm were released in April 2015. [8] [9] [10] [11]