Jed McCaleb is an expert in blockchain cryptocurrency. He is a prominent programmer and known for his contribution especially in cryptocurrency. He developed Mr. Gox, which was the world’s first Bitcoin exchange. In addition, Jed has contributed to the development of decentralized networks such as eDonkey. The project was one of the earliest decentralized peer-to-peer sharing networks in the world. He developed eDonkey together with Sam Yagan, his fellow developer. eDonkey was the first network to adopt multisource downloading.
Foundation of Stellar
Jed identified many problems in financial systems around the world and developed Stellar to offer solutions to the flaws in 2014. Jed cofounded Stellar Development Foundation with Joyce Kim. Jed acts as the CTO of the institution. He also provides technical development of the venture. Stellar aims to provide a financial network, which will provide universal economic inclusion. Jed role at Stellar includes not only coding and improving technical aspects but also emails response and others aspects of the business.
Stellar.org funds the Stellar network. The foundation is a nonprofit entity, which supports technology and financial literacy. In addition, the foundation is a significant contributor to open-source software. Jed McCaleb has a passion for innovating new technologies to solve problems in the world.
In an interview at IdeaMensch, Jed got the idea of Stellar after learning about bitcoin (distributed database). He also understood that bitcoin technology could provide solutions to many problems. He envisioned a need to create a system, which could connect financial firms giving rise to Stellar. Jed saw potential in growth in bitcoin technology and opted to develop the business network. Stellar acts as an interlink between financial institutions.
Jed hopes to connect financial institutions to over 2.5 billion of world population without bank accounts. Several upgrades of the Stellar network since its foundation in 2014 has improved its security and scalability. Additionally, the interface is now more straightforward and easy to maintain or extend. Jed McCaleb and his team adopted SCP, which is a security protocol from Stellar to enhance the safe use of the network. Additionally, the team carries regular integration tests and simulation to maximize safety. Stellar is keen on integrating smart contracts.
In addition to interest in bitcoin technology, Jed McCaleb also spends the time to research on artificial intelligence. He predicts a lot of potential in the AI. Jed attributes his success to focus, planning and implementing right strategies.