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Proof Stellar (XLM) Is Greater Than Ethereum

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Stellar (XLM)

The word on the street is that the collapse of Ethereum (ETH) is inevitable and it is only a matter of time before it all falls down like a stack of dominoes. One of the reasons that ETH is headed towards a Doomsday scenario, is the fact that there has been a failure to scale the network to deal with DApps that need the network to process more transactions per second than the current limit of 25.

Another reason that  ETH will die a natural death, is the fact that the gas fee on the network is high compared to others such as Tron (TRX) –  which has free transactions. The natural order of technology is that developers will choose to create DApps on cheaper and faster networks.

Ethereum developers are working on a way around all these issues. One of the most recent efforts is the agreement to postpone the Difficulty Bomb by implement new code in the next hard fork of Constantinople. This new code will keep ETH in the clear for about one and a half years further meaning it is not a permanent solution. This is where Stellar (XLM) comes in to play.

How is Stellar (XLM) Greater than Ethereum?

A team from the StellarX decentralized exchange recently ran their own at-scale load tests on the Ethereum network and the results were scary. The research they did revealed that Ethereum was being used by entrepreneurs for all the wrong uses. As earlier mentioned, high costs on the Ethereum network and slow performance cull the entire ecosystem.

One of the strengths of Ethereum, as highlighted in the report by the team at StellarX, is that if you are building a distributed computer program with no sole owner and no centralized decision-making apparatus, Ethereum was a great choice. One such example is the Augur project where you need a fully automated, ownerless way to make decisions about real-world events. This is done to circumvent regulatory enforcement which cannot pinpoint a central ‘bookmaker’ on the betting platform of Augur.

But many blockchain companies are using the Ethereum network for tasks it cannot handle to the desired expectation. Such DApps are for gaming, trading, finance, and others that need a high throughput with low transaction fees.

If it is such applications that developers want, then the Stellar network can provide the qualities needed.

The transaction fee on the Stellar network is considerably small when compared to that on the Ethereum network. There are two values used to calculate fees on the Stellar network: Base fee (0.00001 XLM) and Base reserve (0.5 XLM). The fee for a transaction is the number of operations the transaction contains multiplied by the base fee. This means that for the fee to total 1 XLM, it would have to contain 100,000 transactions. The cost of 1 XLM right now is $0.22. This is still cheap on the Stellar network.

When it comes to transactions per second (tps) on the Stellar network, the network has been known to handle 1,000 tps comfortably. This figure is 40 times higher than that of Ethereum at 25 tps.

Summing it all up, the Stellar network is a better candidate for DApps that require a higher throughput and lower transaction fees. Ethereum, on the other hand, has enjoyed the spotlight and perhaps this is why entrepreneurs keep using the platform for all the wrong applications. Some projects initially on the ETH network have migrated to Stellar after the developers realize the roadblocks on the ETH network as highlighted above. With time, this number of migrating DApps is sure to grow as the technical capabilities of the Stellar network continue to be known in the crypto-verse.

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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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GDA Capital in Conversation About the Future of Digital Assets at Global Family Office Summit

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GDA Capital organized the quarterly Global Family Office Summit this week. The event was held virtually with a number of technology leaders and high net worth investors who discussed issues such as education, trust and responsibility to give back. Among these were insightful conversations with Dubai-based Dalma Capital’s CEO Zachari Cefaratti, Holt Fintech Accelerator founder Brendan Hold Dunn, Global Data Sentinel CEO and White City Ventures Chairman of the Board Shahal Khan, and Elitium CEO Raoul Milhado, among others. Participants were also given access to off-market opportunities to invest in novel technologies.

Will Bartlett, GDA Capital’s Director of Research, headlined the event by focusing on tech in the modern economy, and identifying six sectors where new technologies can make a lasting impact: robotics, space, biotech, machine learning, quantum computing, and blockchain. In the context of blockchain, he discussed how digital assets are a hedge against traditional financial markets. “Cryptocurrencies have no exposure to stock market returns, macroeconomic factors, or returns of currencies and commodities,” Bartlett said.

More so, Bartlett believes that new models for digital assets such as DigitalBits’ branded stablecoins are key to the development of the field. These currencies replace traditional rewards and loyalty point systems that are commonly used by household brands by porting them to the blockchain. Meanwhile, they rely on brand…

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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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Messari Adds DigitalBits (XDB) & Branded Currencies to its Registry

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One of the top providers of crypto data and research tools on digital assets Messari has announced the addition of DigitalBits (XDB) to the Messari Registry. As a participant, DigitalBits governing body, the XDB Foundation will be providing regular updates and commit to transparency. The DigitalBits blockchain was built to support consumer digital assets – branded currencies.  As the company stated, “a global, legacy digital asset class, branded currencies play a vital role in consumer-brand interactions, and account for billions of dollars in value.  Branded currencies issued on the DigitalBits blockchain will also be included within the Messari Registry.”

Additionally, Messari and the XDB Foundation “may explore the buildout of a novel registry to accommodate branded currencies tokenized on DigitalBits. This registry would address issues consumers face when determining the legitimacy of branded currencies and their respective organizations,” the announcement said today.  The goal is to provide a standardized framework for organizations leveraging branded currencies, certifying asset legitimacy, and clearly outlining characteristics including but not limited to asset issuance and organization identity.

Commenting on the news, Messari representatives said they recognize the potential for the use of branded currencies to grow in the future as more enterprises embrace blockchain technology. Ben O’Neill, Vice President, BD & Operations at Messari said the Registry will help all…

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