What are the Answers for Stellar Quiz on Coinbase
Here are the five answers to the Stellar quiz questions on Coinbase Earn.
- What is Stellar? A decentralized protocol that unites the world's financial infrastructure.
- What are Stellar Lumens (XLM)? The Stellar protocol native token that facilitates low-cost, universal payments
- Why is Stellar good for remittances? The transactions are fast, inexpensive, and global.
- Why would banks and businesses use stellar? To issue, exchange, and transfer quickly and efficiently around the world.
- How does Stellar Consensus work? It relies on the cooperation of trusted nodes to confirm transactions within the proof-of-stake network.
Please note that the wording of the answers and the questions can deviate from time to time. That said, the questions and answers should always look identical to the list posted above.
What is Stellar (XLM)?
Stellar is a decentralized protocol that enables you to send money to anyone in the world, instantly, for free. Stellar is an open-source project with the goal of making financial access universal.
The Stellar network is a distributed ledger powered by lumens (XLM) - the native asset of the network. Transactions on the Stellar network are fast, secure, and low-cost. XLM can be used to purchase assets such as USD, EUR, BTC, ETH, and more.
Stellar was founded in 2014 by Joyce Kim and Jed McCaleb. The Stellar Development Foundation (SDF), a nonprofit organization that supports the development of Stellar, was founded in 2015. SDF's mission is to promote financial inclusion by connecting people to low-cost financial services.