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Stellar’s XLM or EOS? Which one to pick in the long-run?
If you’ve been aware of the cryptocurrency markets over the last six months, you surely know it’s been a roller coaster. A bearish spell follows a bullish one and all coins have been going up and down in a way that can only be described as surrealistic.
A few coins have been able to perform against the market and keep their momentum going despite the overall trends. Both EOS and XLM managed to do that last April, which would be a good reason to pay them a little more attention and consider them as long-term assets since they’ve have been trading in the green even at times when most other coins have not. So if you need to choose one, which one should it be? Let’s compare them briefly and figure out which should be considered seriously if it came to that.
Market capitalizations and prices
CoinMarketCap has EOS listed at fifth place with a $9,379,817,505 capitalization, and the digital currency is trading at $10.4668 (1.49% increase in value within last 24 hours) at the time I write this.
Stellar is seventh, capitalized at $4,316,011,993 and valued at $0.23193 (0.81% value increase if we talk about last 24 hours). So Stellar is not as big yet, but it’s way cheaper, and that has advantages in its own because it allows to get it in bulk.
Outlook
EOS launched its Main Net earlier this month (called EOSIO) which will see it break free from the Ethereum ecosystem. It had to deal with a few issues as the launch happened, but they solved them, and the brand new Main Net is all about the long-term and becoming an entirely independent dApp platform instead of just another coin in the market.
EOS’ goal is to make the whole crypto universe cheaper, easier to use, more reliable and quicker while providing a blockchain based operating system that can support real-time applications of any kind. There are doubts about its long-term viability, but they’re on the right track, and the Main Net success is a massive step in the right direction.
Stellar is a different animal. It doesn’t aim to solve a wide variety of general problems but a single one: international transactions for the world’s international financial institutions that are still using the SWIFT system to settle payments across borders.
It’s a massive piece of the world’s financial industry, and Stellar was designed from the beginning to tackle this problem in particular. While it faces some serious competition from Ripple (which also plans to do exactly this as well), Stellar (XLM) has also acquired IBM’s support which could go a long way in making it credible for financial institutions the world over.
So you have a one-trick pony against a jack of all trades and, even worse, the one trick pony has a low trade volume that seems to imply it needs much better marketing, right? While that is true, you shouldn’t forget that specialization always pays off and Stellar has the tech and the partnerships that could see it surpass even Ripple, not just EOS.
Final thoughts
Both EOS and Stellar (XLM) are not just cryptocurrencies, but full-fledged blockchain projects and they are both excellent long-term investments for opposite reasons. They are complementary.
One seeks to provide a full blockchain OS that can be used to solve any problem that can be solved by the blockchain technology while the other one wants to get a single problem right, better than everybody else. And there’s reason to believe they could both get their way.
So you shouldn’t go wrong by picking any of them but if you want to pay attention to the subtler points in the crypto world, then take into account IBM’s involvement with Stellar. They will be issuing their first currency using Stellar’s technology to create a carbon credit market worldwide while EOS’ most crucial application is an email service for now.
Whatever you do, make sure to do your homework, so you make an informed choice.
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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
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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