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The Stellar Network

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]


Joyce Kim

Joyce Kim was a VC at Freestyle Capital and an entrepreneur. Prior to that, she was an attorney at Wilmer Hale and Sherman & Sterling and pro bono at Sanctuary for Families and the Innocence Project. Joyce graduated from Cornell University at the age of 19, followed by graduate school at Harvard and Columbia Law School. She is also a Director’s Fellow at the MIT Media Lab.

Joyce frequently speaks about tech nonprofits and the social potential of the Stellar network.

Jed McCaleb

Jed McCaleb is a co-founder of Stellar Development Foundation. In 2000, Jed created e-Donkey which became one of the largest file-sharing networks in its time. He later created Mt. Gox, the first bitcoin exchange, which was subsequently sold and re-coded by its current owners.

Jed has been quoted on the Stellar Consensus Protocol (SCP) in publications like Wired and Coindesk