A new solution for the endpoint of gravitational collapse is proposed .
By extending the concept of Bose-Einstein condensation to gravitational systems , a cold , compact object with an interior de Sitter condensate phase and an exterior Schwarzschild geometry of arbitrary total mass M is constructed .
These are separated by a phase boundary with a small but finite thickness \ell of fluid with eq .
of state p = + \rho c ^ { 2 } , replacing both the Schwarzschild and de Sitter classical horizons .
The new solution has no singularities , no event horizons , and a global time .
Its entropy is maximized under small fluctuations and is given by the standard hydrodynamic entropy of the thin shell , which is of order k _ { { } _ { B } } \ell Mc / \hbar , instead of the Bekenstein-Hawking entropy , S _ { { } _ { BH } } = 4 \pi k _ { { } _ { B } } GM ^ { 2 } / \hbar c .
Unlike black holes , a collapsed star of this kind is thermodynamically stable and has no information paradox .