Altcoins News

Story: Stellar Lumens (XLM) on Standards for global Network of Anchors SEP-24 vs. SEP-31

By Dan Saada

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Stellar Lumens (XLM) Laws Regulations and Specifications

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Stellar Lumens makes it possible to bridge the world's financial infrastructure to set up anchor services.  These Anchor services are fiat on/off ramps for the network.

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Anchors are used to accept deposits and withdrawals through traditional rails, and eventually they convert them to and from digital currency.

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At present, there are two standard transaction flows on which Stellar anchors and applications depend in order to interoperate with each other.

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SEP-24 specifies how the anchors interoperate with the wallets to permit users to deposit and withdraw assets.

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Those who are building an application will be able to think about two different flows, thus creating two different experiences for end users.

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Sydney Ifergan, the crypto expert tweeted:  “I looked in to the SEP-24 vs. SEP-31 implementation guidelines in the Stellar Ecosystem, Stellar Lumens (XLM) are indeed doing a…

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The Stellar Ecosystem Proposals are very good and needed.  They are open specifications which define the best practices for building a product or service on the Stellar…

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