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Is Stellar (XLM) Better than XRP? Coinbase Seems to Think So

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XRP

Coinbase’s recent announcement that it is looking to expand its limited crypto-list is already well-known. One of the coins that Coinbase is looking into seems to be Stellar (XLM), which is hardly surprising. However, many have noticed that Ripple (XRP) is nowhere to be found on this modest list of possible additions.

Stellar (XLM) over Ripple (XRP)?

Anyone who has ever explored Ripple and Stellar has, undoubtedly, noticed a lot of similarities between the coins. This is not really a coincidence, considering that both of them were created by the same person, Jed McCaleb.

However, one very important difference between them is the fact that Ripple (XRP) is the product of a company, while Stellar (XLM) is a creation of a non-profit Stellar Development Foundation, despite the fact that it is based on Ripple Protocol.

Another large difference is that Ripple has nearly countless gateways, most of which are large financial institutions and banks, while Stellar only has a few. And yet, Coinbase chooses Stellar over Ripple. Of course, Stellar has not been listed yet, and the exchange is merely exploring it at this point. However, many have started wondering why they chose XLM over XRP? Also, an even bigger question hanging over everyone’s head is how will Coinbase’s decision to go for Stellar actually affect Ripple?

Stellar, and not Ripple

One of the largest reasons why Coinbase might have chosen to look into Stellar instead of Ripple is the fact seen in a post to which Coinbase is often pointing everyone asking this question – the exchange aims at decentralized cryptos. This is one of XRP’s biggest flaws, considering just how much the coin is tied to its parent company.

Not only does the company hold full control over the coin, and it is the only entity out there that can mine Ripple, but they also hold the majority of the XRP tokens’ total supply. Because of reasons like this, Ripple’s decentralization has been a topic of many debates, and most people agree that Ripple simply isn’t even near the level of decentralization that a true cryptocurrency should have.

Not to mention a large number of controversies regarding Ripple, statements that it is, in fact, a security, and alike. This is also a reason why Ripple has been facing one lawsuit after another, and Coinbase simply isn’t interested in getting in the middle of all that.

On the other hand, Stellar functions a lot similarly to Ripple, without all of that extra baggage, which makes it a perfect candidate for Coinbase to explore. Not only is it a low-priced crypto, which is one of the aspects that the newly-appointed coin is expected to have, but is also truly decentralized,

How will an XLM listing affect XRP?

Ripple has demonstrated time and time again that it doesn’t really depend on other entities when it comes to paving its way to greatness. Despite the controversies regarding its questionable nature, Ripple has still managed to make a large number of partnerships with many large banks and financial institutions.

Because of that, it claims that Coinbase’s decision to turn its back on it in Stellar’s favor will not really affect XRP that much. In fact, Ripple has gone as far as to claim that such a development will be rather insignificant to its success.

Stellar’s goals seem not to be a threat to Ripple at all, despite the possibility of a competition between the two. And, while getting on Coinbase’s list certainly wouldn’t hurt, Ripple believes that it is fully capable of making due without Coinbase’s help. Its products are the key that will unlock the door to success for Ripple, and XRP is the main currency that these products are using. Therefore, Ripple might be right in this regard.

As for Stellar, getting listed on Coinbase will definitely help this coin a lot, and it is the coin with the best chance of being chosen, together with Cardano (ADA).

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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 and read our full disclaimer.

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Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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