Stellar will undergo a testnet reset on June 11th, with a Mainnet upgrade vote scheduled for June 18th. The upgrade process involves a vote on the Mainnet upgrade, following the testnet reset.
Stellar is a decentralized blockchain platform established in 2014 by Jed McCaleb, a co-founder of Ripple. It operates on its own consensus protocol, the Stellar Consensus Protocol (SCP), which enhances transaction processing speed and reliability.
The platform aims to create an international digital payment network that connects individuals, banks, and payment systems. Stellar supports the creation and exchange of “anchor” issuers, who facilitate asset issuance and help developers build products and services using these assets. This focus on improving the end-user experience is a key feature of Stellar’s functionality.
Lumen (XLM) is Stellar’s native cryptocurrency used for paying transaction fees and preventing spam within the system.