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Stellar vs. Ripple: Is XLM a safer bet than the XRP?

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Stellar vs Ripple
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Stellar Lumens and Ripple are two powerhouses in the new world of digital currencies. As we all know the two digital currencies share many similarities as both of them were created by the same person, the founder of Edonkey, Jed McCaleb.

Ripple (XRP) was born from OpenCoin corporation, while Stellar XLM was born from a non-profit organization known as the Stellar Development Foundation that is based on Ripple Protocol. The creation of Ripple was based on the attempt to resolve issues concerning international payments by providing with lower costs and faster transactions; while the invention of Stellar was done to fix Ripple’s problems. XLM was primarily grounded on XRP’s system and was aimed at redesigning the global economy for more inclusivity. But with the system’s complexity, Stellar later decided to redesign itself to be a brand in itself.

Ripple is preferred by multinational corporations and banks to make international payments via XRP coins’ transfer through its (Ripple) network. The result is considered as liquidity on demand. Ripple at the moment is being tested as an option for international money transfer. On the other hand, Stellar allows individuals to trade money directly with one another using XLM as the medium of exchange, and ‘anchors’ to handle the aspects of fiat currency.

Critics argue that with Ripple (XRP) reaching out to large corporations and financial institutions, people might get tired of it just as they did with the bureaucracy and control of financial institutions that lead to cryptocurrency in the first place.

The argument is that individuals could opt out of Ripple at some point when they do not want anything to do with financial institutions and banks and instead turn towards one on one dealings without the need for intermediaries.

In an aspect, the peer to peer economic model that allows a safe peer to peer transaction is taunted to be the most significant need by most crypto experts. The third-largest digital money is also finding problems for getting listed in two of the top American cryptocurrency exchanges, Gemini and Coinbase despite their endless appeals and persistence.

With all the hype Ripple is generating, its absence in these markets is eye-catching. Recently U.S officials warned unlicensed exchanges not to list tokens that could be deemed securities. A single company controlling Ripple is fueling speculations that it could fall under that designation. Earlier this year, Brian Armstrong, the CEO of Coinbase also added his sentiments into the pool stating he is not a supporter of Ripple.

Nagging court battles with R3 HOLDCo, who in the past have already won one court case against XRP complicates the image of the company. Despite persistence and zeal from Team XRP, constant legal issues and court cases are tainting its image of being a favorable mode of transaction.

Ripple’s great large supply of digital coins also is not doing good for investor confidence. Its dropping prices could be attributed to negative news in the market. Meanwhile, XLM has managed to capture support from its community with investor confidence peaking in anticipation of future developments as the currency wants to facilitate cross-border remittances for mostly the unbanked. Moreover, the major partner IBM will promote this in several countries in Oceania region.

Nevertheless, even though Ripple seems to be running into some issues at the moment, one should never forget that Ripple has got brilliant people on its team and the crypto has never-ever failed to surprise thus far. Consequently, deciding on either of the two looks like a tough decision to make. In fact, as it stands now, these two cryptos are not of the same market or design. Yes, both work in the same business and banking community, but yet both coins’ markets are emphatically different.

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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 Mark Brooks via Flickr

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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DEXes
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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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TokenRoll
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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