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Stellar seeks to use blockchain to make fast international payments with small fees. The network can handle thousands of transactions a second with only a 3-5 second confirmation time. Typically, Bitcoin can take up to 10-15 minutes for a transaction to confirm and can only handle a few transactions a second, resulting in higher transaction fees. Stellar focuses on the developing world - specifically, the multi-billion dollar industry of migrant workers who send money back to their family in impoverished countries. The team is led by Jed McCaleb, who has worked in numerous startups in the past, such as eDonkey, Overnet, Ripple, and Mt. Gox. Present-day Stellar is a result of a 2014 fork that created the Stellar Consensus Protocol (SCP) following which Stellar became an open-source system.