Jed McCaleb cofounded and Chief Technologist of Operations at Stellar Development Foundation in 2014 with a goal of improving the world through improved technology. One of his goals is to leverage technology in order to lessen the inefficiencies and raise the human state.
McCaleb’s first endeavors came with the creation of a file sharing, peer to peer file sharing network named eDonkey2000, the first network to initiate multi-source downloading, as well as the first utilization of Kademlia DHT,(a hash table for peer-to-peer computer networks that are decentralized). McCaleb followed up with Mt.Gox, a bitcoin exchange.
When he created Stellar Development Foundation, he did so with the belief that the financial infrastructure of the world was in ruins, leaving many without proper assets needed to carry on. Stellar is a payment network that is completely decentralized, allowing people to exchange or send all currency and also perform as a bitcom decentralized exchange. McCaleb and his co-founder set out to give financial technologies an open standard, allowing all to participate, even those who are without a bank.
The two co-founders have since upgraded their system to by utilizing uncomplicated primitives, composed in a variety of ways. The Stellar upgraded system is scalable, modular and safer. Network duties nave been separated into a variety of components, making them much easier to extend, maintain and understand. The Stellar Core is much smaller than the original codebase, storing data in standard SQL format (SQL format files are database product files.) This allows for individuals to obtain and interact information from the Stellar network using libraries and standard tools.
McCaleb believes in a community run network because he wants to make sure that the network is not only run by Stellar’s administrators and staff, but community participation as well. “Stellar.org contributes to the open-source core protocol, but everything beyond that actually making the network valuable and useful, it up to the community,” says McCaleb.
McCaleb’s plans for the future include new protocols and tools to enhance features including private transactions and messaging.
Learn more about Jed McCaleb and his Stellar ventures: https://www.dailyforexreport.com/questions-answers-stellar-co-founder-jed-mccaleb/