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Can you pick one among Ripple (XRP) and Stellar Lumens (XLM)?

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I assume that you have already heard about Stellar Lumen (XLM) and Ripple (XRP), but my concern is maybe you are unsure how they compare. Well, if this is the case, you do not have a case to worry.

That is one of the most contested questions in the cryptocurrency space as both blockchain technologies share similar attributes, and today, we are going to try an demystify the similarities and dissimilarities between these two virtual currencies and blockchain technologies.

By the way, did you know that both Stellar Lumen (XLM) and Ripple (XRP) share the same person as their creator? We shall look into this later on the article.

Anyway, to assist in laying the foundation, we are going to look and explain how these crypto platforms work followed by an overview of their main differences.

With the modern age and the current trends in technology, cryptocurrencies have significantly evolved making it the most known modern way of financial exchange. To keep pace with these recent trends so many programmers are coming up with the most useful programming languages to enable ease of the financial transfer.

Even though there are so many modes of exchange, only the best are allowed in the market as each programmer comes with his very own best-known way. The only way one can get profit or market share based on the fact that the introduction of the languages used now should be better than the one used before it.

Due to these technological changes, programmers are working day and night tirelessly to improve the different current versions of their projects or instead create a new model on its own which is better and can also utilize in the financial sector with ease.

For these reasons, so many programmers are coming up with ideas to solve the situation, and the co-founder of Stellar Lumens (XLM) and Ripple XRP is no exception. Jed McCaleb who founded Ripple way back in 2013 introduced Stellar into the market.

Ripple was implemented by two programmer’s Jed and his partner with the aim of making the profit. Although Ripple works a bit like Stellar (XRP), they have some fundamental similarities like both using decentralized systems to control and can be controlled by the programmers who founded it (allegedly). In the case of transaction fees, the system uses ledges which take some small amount of money (cents) to process.

The model created and delivered to the market has to perform excellently and meet the standards of the market. Consequently, the anonymity, and in any case, the increase in security when one is transferring the money is very paramount.

Stellar has been consistently doing well in the market and competing favorably with other currencies globally.

Coinbase in one of their tweets introduced five major currencies into the banks and circulation. Coinbase official press release said:

“Today we are announcing that we are exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX)”

This statement tells us how famous and competitive Stella has grown to be.

Most people were amazed by the speed of Stellar Lumens and in particular was Wessrating, a company that tries to rate this type of currencies. In the tweet, Wessrating was recorded saying,

Wessrating tries to agree how fast in speed and excellent Ripple is as it has created a session for the world to debate and explore more on it.

Stellar can also be used across the borders as transfer to border payments was launched sometimes back which are contrary to ripple that does not allow transfer to border payments.

The Chief Executive officer of BitGo custody provider, Mike Belshe in their launch also included Stellar Lumens to their custody support. BitGo custody provider is a company which deals with insurance and security of some crypto coins.

Although Ripple and Stellar have consequently decreased in their price index over the weeks, an individual’s choice of whether to go with Ripple or Stellar relies wholly on them.

But due to all the advantages named above, Stellar would be one of the most secure, fast and useful types of cryptocurrency to use in the market. And of course, Ripple is making great waves too, so choosing only one among the two is tough.

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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.

Image courtesy of Waldryano/Pixabay

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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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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