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Ripple (XRP) vs Stellar (XLM) and Litecoin (LTC)

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Ripple Stellar Litecoin

If Ripple (XRP) is the Clark Kent (the fictional identity of Superman) of cryptocurrencies, Stellar Lumen (XLM) is its antagonist, Lex Luther, with XLM claiming that Ripple is still hanging on to approximately 60% of the initially issued XRP tokens. If you take a look at Ripple (XRP) and come to the conclusion that it is similar to Stellar Lumens (XLM), you would be right.

The same person, Jed McCaleb found both virtual currencies, and appear to be somewhat similar regarding technical functionalities and specifications. Both function with the aim of providing payment processing solutions with traditional assets.

Ripple vs. Stellar

But if you take a closer look at them, you will find out that the two cryptocurrencies are more different than similar.

Stellar Lumen is an open-source virtual currency that aims to provide a platform for making settlements via blockchain technology utilizing the Federated Byzantine Agreement algorithm or FBA that allows it to clock transaction speeds of up to 1000 tx/s.

On the other hand, Ripple differs slightly with Stellar as its platform is not open-sourced while it uses a different approach to reach consensus. Ripple uses the Ripple Protocol consensus algorithm or (RPCA) as its proof of correctness mechanism. The RPCA algorithm can clock transaction speeds of up to 1500 tx/s, flooring down Stellar easily.

From the look of things, it seems that whoever on boards the largest and most sought-after brand has the edge over the other. If this statement is anything to go by, Ripple takes the leading position very early. It is true that both virtual currencies aim to assist banks and financial institutions make international transactions.

Although sharing a common goal, the two have different target clients. Ripple (XRP) targets multinational payment providers as well as banks that are international. As a result, Ripple has sought and signed partnerships with several financial institutions in Japan and international money transfer providers like MoneyGram, Western Union, and Fleetcor.

XLM‘s primary target is the emerging markets wanting to facilitate international money transfer mostly for the unbanked IBM being one of their main partners. IBM facilitates their project in some countries in the Oceania region.

I believe Ripple (XRP) has managed to bug the support of its community and is more likely to perform better in the long-run compared to Stellar Lumen (XLM).

Ripple vs. Litecoin (LTC)

The two digital coins are fierce competitors with Litecoin coming at 5th position in the market while Ripple is number three.

Some people are of the opinion that Ripple, which is nearly one year old, is the currency which is going to dominate cross-border transactions due to its tools efficiency and proficiency.

Others claim Litecoin is better than Ripple as it is not only centered on a particular purpose rather it can be used for paying various day to day goods and services.

  Ripple (XRP) Stellar (XLM) Litecoin (LTC)
Market Cap $23,450,321,263 $4,738,636,417 $6,077,355,415
Price $0.59 $0.25 $106.7
Trading Volume $329,825,000 $47,232,600 $331,992,000
Total Coins 99.9933 billion 103 billion 84 million
Governance Centralized Decentralized Decentralized
Transaction Clearance 2-4 sec 2-4 sec 2-5 minutes

 

All three cryptos, Ripple, Stellar and Litecoin, posses the potential of breaking into the mainstream ones. Each of the currency has a passionate leader behind it; Ripple holds Brad Garlinghouse, Stellar Jed McCaleb, and Charlie Lee leads Litecoin – all three are charismatic leaders.

But, going by the partnerships, demand, and market figures, it looks Ripple takes the day as things stand right now. No one should be surprised to see Ripple (XRP) succeeding in mass adoption ahead of the competition.

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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 Pxhere.com

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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