Coinbase, Exchanges

What Is Stellar Used for Coinbase Quiz?

What is Stellar?

Stellar is a decentralized protocol that enables you to send money to anyone in the world, instantly, for free. Stellar is an open-source, distributed payments infrastructure, built on the premise that the international community needs a financial network that is accessible to all.

The Stellar network is a decentralized database that stores all information about accounts, balances, and transactions. The network is powered by a native cryptocurrency, also called Stellar, which is used to fuel transactions on the network.

The Stellar protocol was created in 2014 by Jed McCaleb, the co-founder of Ripple, and Joyce Kim. The Stellar Development Foundation (SDF), a nonprofit organization that supports the development of Stellar, was founded in 2015.

What is Stellar used for?

The Stellar protocol can be used to facilitate cross-border payments, remittances, or any other type of money transfer. The protocol can also be used to issue and manage digital assets, such as loyalty points or mobile minutes.

In addition, the Stellar network can be used to build decentralized applications (dapps). .

NOTE: This quiz is intended to inform and educate users about the cryptocurrency called Stellar (XLM) and how it is used for Coinbase. It is important to note, however, that this quiz does not constitute financial advice. Before investing in any cryptocurrency, be sure to do your own research and consult with an appropriately qualified financial advisor. Investing in cryptocurrencies can be risky and you should never invest more than you can afford to lose.

The SDF provides free and low-cost access to the Stellar network to help promote financial inclusion. The SDF also supports the development of dapps on the Stellar network through its Labs program.

What is Coinbase?

Coinbase is a digital asset exchange company headquartered in San Francisco, California. Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam.

Coinbase allows users to buy and sell Bitcoin, Ethereum, Litecoin, and other cryptocurrencies.

Coinbase also allows users to store their cryptocurrencies in a wallet on the Coinbase platform. In addition, Coinbase offers a range of tools and services for developers looking to build dapps on top of the Coinbase platform.

What Is Stellar Used for Coinbase Quiz?

The correct answer is: The Stellar protocol can be used to facilitate cross-border payments, remittances, or any other type of money transfer.

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