Stellar’s consensus method allows for fast and cheap transactions, with everyone on the network reaching agreement about transaction validity within a few seconds. Every participant (called a node) who helps add Stellar transactions to the global ledger chooses its own mini-network of other trusted participants that it agrees with. As long as these mini-networks (called quorum slices) overlap, the overall Stellar network can reach agreement about which transactions are valid and can be added to the ledger very quickly. You can read about how Stellar’s consensus mechanism works in greater detail in this article.
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Stellar is an open-source, decentralized protocol for digital currency to fiat currency transfers which allows cross-border transactions between any pair of currencies. The Stellar protocol is supported by a nonprofit, the Stellar Development Foundation