Stellar is the platform for foreign exchange transactions operating in real time with internal coin – Stellar Lumens (XLM). It was founded in early 2014 by jed McCaleb and Joyce Kim as a branch of the Ripple system and first worked on the eponymous Protocol. In the future, it developed its own open-source Protocol Stellar. In the process of using its own kind of electronic currency, which was previously called the rack or the star, and now called the Stellar Lumen.
The servers perform a software implementation of the Protocol and use the Internet to connect and communicate with other Stellar servers, forming a global currency exchange network. Each server keeps records of all "accounts" in the network. These records are stored in a database called Ledger. Servers declare changes in the Ledger, offering "deals" that transfer accounts from one state to another, spending the balance of the account or changing its properties. All servers are trying to come to an agreement that will apply to the current Ledger some package deals, through a process called "consensus" .
The Consensus process runs at regular intervals, usually every 2-4 seconds. This keeps a copy of each server's Ledger in a synchronized and identical state. When you start Stellar was based on the Protocol Rippleruen. After system problems related to the existing consensus algorithm were discovered, Stellar created an updated version of the Protocol with a new consensus algorithm based on a completely new code. The code and technical documentation for this new algorithm was released in April 2015, and the updated network began operating in November 2015.