Understanding Stellar Casinos
One of the oldest altcoins in the crypto world, Stellar is a decentralised blockchain network that began as a hard fork of the Ripple currency in 2014, with Lumens (XLM) as its native tokens. It was founded by Jed McCaleb, the Ripple co-founder, and Joyce Kim, an entrepreneur. The development of the Stellar network is overseen by the Stellar Development Foundation (SDF), a non-profit organisation, with the goal of providing individuals with “equitable access to the global financial system through blockchain technology.”
Stellar transactions utilise the Stellar Consensus Protocol (SCP), a more efficient transaction verifying system than Bitcoin’s energy-intensive Proof of Work (POW) mining mechanism, and, unlike Bitcoin, the total supply of 100 billion Lumens (XLM) was pre-mined when Stellar was launched. The fast and energy-efficient transactions completed within 2 to 5 seconds caught the eye of the top online casinos, and many online gambling platforms that accept Bitcoin, Ethereum, Litecoin, and other digital currencies, started integrating XLM as a payment method too.