How did Jed McCaleb Build Stellar?

Individuals with an interest in bitcoin and other crypto is likely to already know who Jed McCaleb is. He is the CTO of Stellar and is formally the man behind the popular bitcoin exchange network called Mt. Gox. When Jed McCaleb speaks, people listen.

McCaleb first discovered blockchain from an online article in 2010. He almost immediately transformed his company Mt. Gox to accommodate bitcoin. He took the company, which offered a platform for gamers to trade digital assets, and he created the first world wide network of its kind.

“It would be really cool if there was a kind of money that wasn’t centrally controlled,” McCaleb said. “But I didn’t think it was actually possible.”

McCaleb has proved himself wrong, successfully creating Stellar and partnering with organization all over the world.

In a post from Crunchbase, McCaleb sold Mt. Gox in order to pursue wider interests in 2011. McCaleb didn’t simply want to provide a service for bitcoin users; he wanted to create his own cryptocurrency.

Stellar was eventually created in 2014. Jed McCaleb teamed up with Joyce Kim with the intention of creating a non-profit crypto company. They wanted to fix some of the banking industries major problems.

“The vision for Stellar is an internet-level protocol for payments,” McCaleb said, explaining the goals behind Stellar.

Blockchain is beneficial to the banking industry. This isn’t just a statement from Stellar and McCaleb, but it is the general consensus of everyone involved with blockchain. Blockchain can finish transactions faster than any other method on Earth, and its security is top of the line.

Most blockchain currencies require thousands and thousands of nodes, or volunteered machines, to keep records. Stellar doesn’t require nearly as many machines. In fact, Stellar doesn’t even use the mining process that is used with typical blockchain coins.

“If we have a thousand I think that would be good,” McCaleb said.

Jed McCaleb’s experiences in programming and blockchain have enabled Stellar to adapt and change for the better.

Content taken from: https://github.com/jedmccaleb

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