Post
Topic
Board Announcements (Altcoins)
Re: [ANN][XLM] Stellar - Decentralized trading platform
by
nam19992000no1
on 23/01/2018, 18:05:26 UTC
Wow, amazing coin.

Anyone can explain for me about this :?

"Anchors, trust, and credit
Anchors are simply entities that people trust to hold their deposits and issue credits into the Stellar network for those deposits. They act as a bridge between different currencies and the Stellar network. All money transactions in the Stellar network (except the native digital currency of lumens) occur in the form of credit issued by anchors.
Anchors do two simple things:
1) They take your deposit and issue the corresponding credit to your account address on the Stellar ledger.
2) You can make a withdrawal by bringing them credit they issued.
You have to trust the anchor to honor your deposits and withdrawals of credit it has issued.
Anchors exist in the pre-stellar world now. For example, to use Venmo, you deposit money in from your bank account. Venmo then gives you credit in your Venmo account. You can now send that Venmo credit to anyone that trusts Venmo (anyone with a Venmo account). Someone that received your Venmo credit can convert it to real money by withdrawing it to their bank.
Anchors perform the same function in Stellar. The difference is, all the "Venmos” and other anchors are operating on the same network so they can all transact with each other now – this makes the system way more powerful. People can now easily send and exchange all these different anchor credits with each other."