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Stellar blockchain will be checked for illegal transactions

The non-profit organization Stellar Development Foundation (SDF), which is involved in the development of the Stellar project, has partnered with Elliptic.

The Elliptic analytic company protects its customers from cryptocurrency fraud. Elliptic is involved in risk management and blockchain analysis for regulatory compliance.

According to SDF CEO Danell Dixon, the Elliptic service will help Stellar identify suspicious and illegal activities in the network. The measures taken are aimed at increasing the transparency of the platform for entrepreneurs.

First of all, the Elliptic software will monitor the XLM token, and then switch to other projects created on the Stellar blockchain.

Representatives of the Stellar Development Foundation say that Elliptic algorithms are able to detect all types of fraud: from theft to money laundering