Jed McCaleb’s Developments at Stellar

Jed McCaleb leads technical development in Stellar Organization. He is also the one who founded the company. Jed McCaleb is also the CTO of this firm that has rapidly grown over the years. He is also an advisor to MIRI. MIRI is a company that deals with research concerning artificial intelligence for a positive impact.

To reduce inefficiency, Jed McCaleb believes in consciously leveraging the science of the application of knowledge to practical purposes. He also developed the edonkey and Mt.Gox websites. edonkey is one of the largest file-sharing networks while Mt.Gox was the first Bitcoin technology trading platform.

Jed McCaleb co-founded stellar development foundation in 2014. This was after realizing that world’s financial institution was broken. Stellar allows the exchange of money in the form of cryptocurrency from one person to the other. It is a complete decentralized payment network.

Since the launch of Stellar by Jed McCaleb, several partnerships have been announced. Those partnerships were reached with prominent bodies such as the United Nations. The specific program that Jed sold to this body was used to develop a new census algorithm and codebase.

The upgraded Stellar network founded by Jed is modular, scalable and more secure. The network responsibilities are separated into multiple components. In doing this, they are easy to extend, maintain and understand. Compared to the previous codebase, Stellar’s core is now half its size. Data is stored in a standard SQL database. People get information in the shortest time possible on the Stellar network. They can easily interact with it using standard libraries and other tools.

On the Stellar network, granular details on the movement and location of data are provided by Graydon’s presentation. The code was refactored mainly to implement the new Stellar consensus protocol. The Stellar consensus protocol has a unique provable correct federated consensus algorithm. Stellar protocol consensus ensures that the system will not fail. Many failures are mitigated through the integration test unit to ensure that they do not affect the operation of the system.

The community participants outside Stellar organization run the live network. (Source: LinkedIn)

Here’s a transcript of eToro and Jed McCaleb’s meetup: https://www.lumenauts.com/blog/transcript-of-jed-mccaleb-and-stellar-s-meetup-with-etoro

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