Key Points

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Monetize and Tokenize Data

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Tokenization Strategies: Onchain and Offchain paper

The Spectrum of Tokenization A novel framework for understanding tokenized asset finance.

Written by Collin Erickson, Mac Naggar, and Jack Chong.   — 2023

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Impacts of Token Management Strategy on Parties 

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Potential Value Opportunities

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https://developers.stellar.org/docs/glossary

Account​

A central Stellar data structure to hold balances, sign transactions, and issue assets.

See the Accounts section to learn more.

Account ID​

The public key used to create an account. This key persists across different key assignments.

Anchor​

The on and off-ramps on the Stellar network that facilitate one-to-one conversion of off-chain representations to and from tokenized assets, for example, digital tokens representing bank deposits.

Application (app)​

A software program designed for users to carry out a specific task (other than operating the computer itself).

Balance​

The amount of a given asset an account holds. Each asset has its own balance and these balances are stored in trustlines for every asset except XLM, which is held directly by the account.

Base fee​

The fee the network charges per operation in a transaction. When the network is in surge pricing mode, the base fee varies based on an auction mechanism. When it's not, the base fee defaults to the network minimum currently at 100 stroops per operation.

Learn more in our Fees, Surge Pricing, and Fee Strategies Encyclopedia Entry

Base reserve​

A unit of measurement used to calculate an account’s minimum balance. One base reserve is currently 0.5 XLM.

Learn more in our Lumens section.

Keypair​

A combined public and private key used to secure transactions. You can use any Stellar wallet, SDK, or the Stellar Laboratory to generate a valid keypair.

Keystore​

An encrypted store or file that serves as a repository of private keys, certificates, and public keys.

Ledger​

A representation of the state of the Stellar universe at a given point in time, shared across all network nodes.

LedgerKey​

LedgerKey holds information to identify a specific ledgerEntry. It is a union that can be any one of the LedgerEntryTypes (ACCOUNT, TRUSTLINE, OFFER, DATA, or CLAIMABLE_BALANCE).

Liability​

A buying or selling obligation, required to satisfy (selling) or accommodate (buying) transactions.

Orderbook​

A record of outstanding orders on the Stellar network.

Passive order​

An order that does not execute against a marketable counter order with the same price; filled only if the prices are not equal.

Pathfinding​

The process of determining the best path of a payment, evaluating the current orderbooks, and finding the series of conversions to achieve the best rate.

Payment channel​

Allows two parties who frequently transact with one another to move the bulk of their activity off-chain, while still recording opening balances and final settlement on-chain.

Price​

The ratio of the quote asset and the base asset in an order.

Rate-limiting​

Horizon rate limits on a per-IP-address basis. By default, a client is limited to 3,600 requests per hour, or one request per second on average.

Sequence number​

Used to identify and verify the order of transactions with the source account.

Secret (private) key​

The private key is part of a keypair, which is associated with an account. Do not share your secret key with anyone.

Signer​

Refers to the master key or to any other signing keys added later. A signer is defined as the pair: public key + weight. Signers can be set with the Set Options operation.

See our Signature and Multisignature Encyclopedia Entry for more information.

Source account​

The account that originates a transaction. This account also provides the fee and sequence number for the transaction.

Starlight​

Stellar’s layer 2 protocol that allows for bi-directional payment channels.

Stellar​

A decentralized, federated peer-to-peer network that allows people to send payments in any asset anywhere in the world instantaneously, and with minimal fees.

Stellar Consensus Protocol (SCP)​

Provides a way to reach consensus without relying on a closed system to accurately record financial transactions.

Stellar Core​

A replicated state machine that maintains a local copy of a cryptographic ledger and processes transactions against it, in consensus with a set of peers; also, the reference implementation for the peer-to-peer agent that manages the Stellar network.

Stellar.toml​

A formatted configuration file containing published information about a node and an organization. For more, see the Stellar Info File spec (SEP-0001`)

Transaction​

A group of 1 to 100 operations that modify the ledger state.

Read more in the Operations and Transactions section.

Transaction envelope​

A wrapper for a transaction that carries signatures.

Transaction fee​

Stellar requires a small fee for all transactions to prevent ledger spam and prioritize transactions during surge pricing.

Trustline​

An explicit opt-in for an account to hold a particular asset that tracks liabilities, the balance of the asset, and can also limit the amount of an asset that an account can hold.

Learn more in our Accounts section.

Validator​

A basic validator keeps track of the ledger and submits transactions for possible inclusion. It ensures reliable access to the network and sign-off on transactions. A full validator performs the functions of a basic validator, but also publishes a history archive containing snapshots of the ledger, including all network transactions and their results.

XLM (lumens)​

The native currency of the Stellar network.

Wallet​

An interface that gives a user access to an account stored on the ledger; that access is controlled by the account’s secret key. The wallet allows users to store and manage their assets.

XDR - External Data Representation format ( Binary )

https://developers.stellar.org/docs/encyclopedia/xdr

Stellar stores and communicates ledger data, transactions, results, history, and messages in a binary format called External Data Representation (XDR). XDR is optimized for network performance but not human readable. Horizon and the Stellar SDKs convert XDRs into friendlier formats.

XDR is specified in RFC 4506 and is similar to tools like Protocol Buffers or Thrift. XDR provides a few important features:

• It is very compact, so it can be transmitted quickly and stored with minimal disk space.
• Data encoded in XDR is reliably and predictably stored. Fields are always in the same order, which makes cryptographically signing and verifying XDR messages simple.
• XDR definitions include rich descriptions of data types and structures, which is not possible in simpler formats like JSON, TOML, or YAML.

Parsing XDR

Since XDR is a binary format and not as widely known as simpler formats like JSON, the Stellar SDKs all include tools for parsing XDR and will do so automatically when retrieving data.

In addition, the Horizon API server generally exposes the most important parts of the XDR data in JSON, so they are easier to parse if you are not using an SDK. The XDR data is still included (encoded as a base64 string) inside the JSON in case you need direct access to it. .X files

Data structures in XDR are specified in an interface definition file (IDL). The IDL files used for the Stellar Network are available on GitHub.

Stellar Federation Protocol - address users, accounts, orgs

https://developers.stellar.org/docs/encyclopedia/federation

The Stellar federation protocol maps Stellar addresses to an email-like identifier that provides more information about a given user. It’s a way for Stellar client software to resolve email-like addresses such as name*yourdomain.com into account IDs like: GCCVPYFOHY7ZB7557JKENAX62LUAPLMGIWNZJAFV2MITK6T32V37KEJU. Federated addresses provide an easy way for users to share payment details by using a syntax that interoperates across different domains and providers.

Federated addresses​

Stellar federated addresses are divided into two parts separated by : the username and the domain. For example: `jedstellar.org:`

• jed is the username
• stellar.org is the domain

Note that the @ symbol is allowed in the username. This means you can use email addresses in the username of a federated address. For example: maria@gmail.com*stellar.org.

Transaction Base and Surge fees & management

https://developers.stellar.org/docs/encyclopedia/fees-surge-pricing-fee-strategies

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