Connect with us

Blogs

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

Published

on

XRP
READ LATER - DOWNLOAD THIS POST AS PDF

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).

For the latest cryptocurrency news, join our Telegram!

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.

Image courtesy of Pexels

Altcoins

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

Published

on

Aluna.Social
READ LATER - DOWNLOAD THIS POST AS PDF

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,…

Continue Reading

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Press Release