STELLAR

WHY YOU CAN'T IGNORE IT !

FOR WEB DEVELOPERS

RICHARD PIACENTINI BLOCKCHAIN TECHNOLOGY CONFERENCE - BANGKOK

STFWD - NUXOS ASIA

INTRODUCTION

FACTS & FIGURES (QUICKLY)

▸ Name - Stellar (Lumens)

▸ Trading Symbol - XLM

▸ Total Lumens - 103.78B XLM

▸ Lumens Available - 18.54B XLM

▸ Emission rate - Inflation mechanism

▸ Market Cap - Quite a Lot (approximately)

▸ Market Rank - Usually around 8th

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INTRODUCTION

PURPOSE

▸ Moving money across borders

▸ Quickly and reliably

▸ At almost no cost !

▸ Connecting Banks, Payment Systems & People

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INTRODUCTION

SOME KEY DATES

▸ 2013 - Fork of Ripple

▸ 2014 - Stellar Development Foundation

▸ 2015 - New Consensus Algorithm (SCP)

▸ 2015 (November) - Launch of Upgraded Network

▸ 2017 - IBM choose Stellar for it’s cross-border payments solution

▸ 2018…

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HOW DOES IT WORKS

Credits: Stellar.org

How do you send EUR to your friend using USD on the Stellar network ?

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HOW DOES IT WORKS

Credits: Stellar.org

Stellar - A network of decentralised servers that power a distributed ledger

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HOW DOES IT WORKS

Credits: Stellar.org

This ledger records every transaction in the system for people and companies alikeA complete copy of the global ledger exists on each Stellar server

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HOW DOES IT WORKS

Credits: Stellar.org

Servers communicate with each other to verify transactions and sync the ledgerThis mechanism is known as consensus and happens every 2-5 seconds

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HOW DOES IT WORKS

Credits: Stellar.org

Stellar network

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HOW DOES IT WORKS

Credits: Stellar.org

Your analog wallet Your online wallet

Your deposit

Your money issued as credit

Stellar network

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HOW DOES IT WORKS

Credits: Stellar.org

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HOW DOES IT WORKS

Credits: Stellar.org

Your money issued as credit

You Your friend

Stellar network

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ADVANTAGES - 100% OPEN-SOURCE

WHY STELLAR ?

▸ Fast enough (for now…)

▸ Very Low Transaction fees (really !)

▸ Cost of 1 operation: 0.00001 XLM

▸ Decentralised Exchange Built-in (SDEX)

▸ SCP - Stellar Consensus Protocol - by Prof. David Mazières

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PROFESSOR MAZIÈRES - WWW.SCS.STANFORD.EDU/~DM/

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ARCHITECTURE OVERVIEW

MAIN COMPONENTS

▸ Stellar Core

▸ Backbone of the Stellar Network

▸ Validating and agreeing on the status of every Tx (SCP) with other Core nodes

▸ Horizon Server

▸ RESTful HTTP API Server

▸ Interact securely with Stellar Core

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ARCHITECTURE OVERVIEW

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ARCHITECTURE OVERVIEW

DATA STORAGE

▸ PostgreSQL

▸ Core Database

▸ Horizon Database

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ARCHITECTURE OVERVIEW

DATA STORAGE

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ARCHITECTURE OVERVIEW

CORE DATABASE HORIZON DATABASE

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CONCEPTS

LEDGER

▸ State of the network at a given point in time

▸ List all accounts and balances, all orders in the DEX, and any other persistent data

▸ Cryptographically linked to previous ledger

▸ 1st ledger in history: Genesis Ledger

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CONCEPTS

LEDGER HEADER

▸ Reference to the actual data in the ledger

▸ Reference to the previous ledger

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GENERAL

LEDGER HEADERS - DATA STRUCTURE

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CONCEPTS

ACCOUNT

▸ Central data structure in Stellar

▸ Identified by a public key and saved in the ledger

▸ Everything else in the ledger (offers, trustlines, data, …) belongs to an account

▸ Access controlled by public/private key cryptography

▸ Multi-signatures built-in

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CONCEPTS

ASSET

▸ Stellar can track, hold and transfer any type of assets: $, €, Stocks and tokens

▸ Any asset on the network can be traded and exchanged with any other

▸ Holding assets is holding a credit from a particular issuer (account)

▸ A trustline must be created to trust an issuing account

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CONCEPTS

TRANSACTION

▸ Command that modify the ledger state

▸ Strictly ordered by sequence numbers

▸ Contain an arbitrary list of operations

▸ Up to 20 signatures, superfluous signatures aren’t allowed

▸ Optional Time Bounds (lower/upper)

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BATTERY INCLUDED !

STELLAR SECURE CONTRACTS

▸ Because being too SMART is most of the times not a good thing…

▸ Account Multi-Signatures

▸ Batching/Atomicity

▸ Sequencing

▸ Time Bounds Transactions

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DEVELOPER TOOLS

SOFTWARE DEVELOPMENT KIT - SDK

▸ Javascript

▸ Ruby

▸ Python

▸ Java

▸ .NET

▸ ….

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EXAMPLE: PAYMENT WITH JAVASCRIPT SDK

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DEVELOPER TOOLS

STELLAR LABORATORY

▸ Set of tools to try out and learn

▸ Build, Sign and Submit transactions

▸ Query any Horizon endpoint

▸ Ultra-fast Prototyping !

▸ Web/App Developer’s Playground ! :)

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REAL STUFF !

NOW LET’S TRY !

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MORE OF STELLAR

THERE IS ALSO…

▸ Stellar Federation Server

▸ Converts a human readable address to an account ID

▸ Use transaction memo to include information about payment(s)

▸ Stellar Bridge Server

▸ Send and receive payments easily…

▸ …Using Federation and Compliance servers

▸ Stellar Compliance Server

▸ AML, KYC

▸ Stellar Compliance Protocol - standard way to exchange compliance information, pre-approve transaction with another financial institution.

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RESOURCES

USEFUL LINKS

▸ https://www.stellar.org/developers/

▸ https://www.stellar.org/laboratory

▸ https://stellarterm.com/

▸ https://dashboard.stellar.org/

▸ https://stellarchain.io/

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THE END

THANK YOU !!

QUESTIONS ?

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THE END

THANK YOU !!(AGAIN)

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ADVANCED

CHANNELING PAYMENTS

▸ High transactions throughput

▸ Avoiding Sequence Collisions

▸ Using different source account(s) to send the transactions

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ADVANCED

MULTI-SIG ESCROW W/ TIMELOCK

▸ Safely distributing tokens during an ICO

▸ Using a multi-signature escrow account

▸ Locking token distribution until a specific date

▸ Optionally: add a recovery mechanism after another specific date