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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.

We will be updating our subscribers as soon as we know more. For the latest on XLM, sign up below!

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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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