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Is Stellar (XLM) Ready To Surpass Ripple (XRP)?

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Stellar
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Ripple (XRP) and Stellar (XLM) both share many similarities one of which is that both have been developed by the same person, Jed Caleb. Ripple was born from a corporation, the open coin whereas the Stellar was born from a non-profit organization called the Stellar foundation, which is based on the Ripple protocol. In the midst of the ongoing turbulence in the cryptocurrency market, several tokens and coins are have been experiencing drops in their valuations, while some other currencies have been witnessing a surge in their prices. Ripple and Stellar are two such currencies which have been under the spotlight of attention for their bright performance in the crypto market.

Currently, Ripple has innumerable gateways including major banks and payments services while Stellar has only a few. However, it is not because Stellar’s popularity or potential is any less but because Stellar seems to be aiming for something different than Ripple. They self-describe themselves as a group which aims to connect people to low-cost financial services to fight services poverty and develops individual potential. This does not deter them from being adopted from by corporations like giants Deloitte and IBM, which announced Stellar will be the backbone of its new cross-border payment solution.

Gateways

This is how it works in both systems: anyone can make use of both Stellar’s and Ripple API and declare themselves a gateway. While you need to trust the getaways you use, you don’t need trust the other participants in the network. This is like trusting your local bank to hold a deposit on your behalf. In Stellar, it is up to you to decide how much you’d like to trust a gateway by setting policies that allow the getaway to hold a deposit of a certain sum on your behalf.

Introducing Stellar

Stellar is a decentralized protocol which enables the processes of sending and receiving money in any pair of currencies. This implies for instance, that users can send a transaction from their Yen balance, and have it arrived in Euros, Yen or even Bitcoin. They are expecting to support the categories of payments which are usually the following:

  • Payments to a merchant
  • Remittances back home
  • Remittances back
  • Rent splits with a roommate

Consensus

Stellar uses its own distributed ledger, which is maintained by a consensus algorithm rather than mining. Each node in the network communicates with a set of other nodes which is highly unlikely to collude. Examples of such nodes are the ones run by universities, governments, and corporate organizations. It is worth noting that it does not need to trust the nodes themselves—it just needs to believe the nodes will not work in unison to yield some distorting result. Then an iterative process is used to reach a consensus which results in each new ledger being decided upon every few seconds. Correspondingly, there is instant confirmation of transactions and there is no need for mining.

Stellar price momentum continues

Stellar managed to go up by 12% against the dollar on February 24 of 2018. This means that investors and holders of Stellar are looking forward to seeing that Stellar is getting closer to the value of 0.5 dollars per unit. With this pace of growth and bounce off, Stellar has managed to outperform all other currencies having the greatest step of growth in the last couple of days when compared to all existing coins. With the price of Stellar surging by 13.1% over in the recent past, it has become evident that there is quite a high demand for this cryptocurrency. The factors prompting this rise in demand are yet to be figured out.

How well will Stellar perform in 2018?

Thanks to its pace of growth and latest rise in price, Stellar is considered as one of the best performing coins in the market. This way Stellar can look forward to getting new investors who will bring more opportunities for the blockchain and will cause its price to soar even higher. With Ripple already having gone over a dollar price per unit, it can be concluded easily that Stellar will easily reach a price of one dollar per single unit in the very near future as well.

Since Stellar is making efforts to be an alternative to traditional money transfer using traditional banks, especially in places that need it the most, an exact correlation cannot be pointed between Ripple’s success and Stellar’s failure or vice-versa. Despite this, we can see the Stellar holds immense potential for further success in the future. 2018 is projected to do wonders for both the cryptocurrencies. Both the coins are gaining a lot of popularity for being two of the most promising currencies on the crypto market.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Roger Blake via Flickr

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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