Hassan Maishera
On Wednesday, the Stellar Org announced via X that Alchemy has become a tier-1 validator on the Stellar network.
This means that Alchemy is a participant in the Stellar Consensus Protocol and helps support network resiliency. The expanded support now comes with new indexed Data APIs for transfer history, token balances, and NFT holdings (classic + Soroban).
Stellar is an open-source network with the mission to "create equitable access to the global financial system." Stellar is maintained by the Stellar Development Foundation, a non-profit organization established in 2014.
The Stellar network is a decentralized, fast, scalable, and uniquely sustainable blockchain built for financial products and services. The network launched in 2014 with the purpose of connecting the world's financial systems by offering a protocol for payment providers and financial institutions that facilitates near-instant global payments and currency exchanges. In 2024, Stellar released protocol 20, enabling full-featured smart contracts to the network. The network is transforming international payments and remittances through safer, faster, and more affordable solutions, and connecting real-world assets to DeFi to enable comprehensive everyday financial services.
The Stellar network’s native digital currency - Lumens (“XLM”) - is used to pay the network’s transaction fees. (XLM can also be used as an intermediate currency for operations. How it works: the protocol converts money in a few seconds, first into XLM, and then into the requested currency.)
XLM is down 0.7% in the last 24 hours and now trades at $0.1811 per coin.
