It all began in 2009, when different cryptocurrencies came into existence, beginning with the decentralized Bitcoin coming into play. Cryptocurrency pioneer, Jed McCaleb, created innovative projects along with other developers, business like-minded people and programmers. They all saw the potential and opportunities that a virtual currency could have. Then that is when Stellar rose about. Stellar cryptocurrency was then formulated in 2014 through Jed McCaleb, who is the co-founder and chief technology officer of Steller. The purpose of the digital currency was to fulfill the basic financial needs of individuals as they received the opportunity to connect worldwide and reduce superfluous fees for the rich and poor. This is to provide individuals a banking system without actually having a bank account for easier currency exchange.
Jed McCaleb noticed the unfair restrictions that were up against for individuals through banks and financial institutions, Jed stating that the financial infrastructure of the world is broken and too many individuals were left without resources. So, in November 2015, the Stellar network was launched as it made a few upgrades, allowing the system to make faster and more secure transactions on an open financial source network system. The quick transactions can easily be made within 3-5 seconds with the benefits of paying lower fees than normal institutional rates. Stellar is now known to be among the top 10 cryptocurrencies and has been above its market capital with more and more individuals wanting to know more scoop on this superb digital currency. Since November 2017, the market cap ranged over its wealth of $1 billion. Stellar also aimed to raise $39 million as Mobius ran its ICO on the Stellar platform.
Before McCaleb invested in Stellar, he created one of the largest decentralized file-sharing platform that allowed users to peer to peer file share, called eDonkey2000. Jed had always had a passion and spent much time thinking and developing ways to improve technology and the way they can be used to improve the world today. Through Jed’s belief, his goal is to consciously leverage technology to reduce inefficiency and improve the human condition around the world.
Read what Jed has to say about the future of cryptocurrency: https://gazetteday.com/2018/04/jed-mccaleb-talks-blockchain-future-cryptocurrencies/