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The battle between Stellar Lumens (XLM) and Ripple (XRP)

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Stellar Lumens Lately

Stellar Lumens (XLM) have not been having a good time. Their coin went down until last week when it recovered as the Mobile currency used the Stellar Consensus to raise money; they got $30 million which brought attention and traffic in Stellar Lumen’s way.

Stellar’s recovery went all the way through last Friday, with their cryptocurrency on the lead. They even enjoyed gains. Their market value is now at $415.5 billion with a volume worth 27.4 billion.

Mobilecoin’s choice for quick transactions is Stellar Consensus. This coin allows for mobile payments to come together with messaging apps like WhatsApp and Signal. Mobilecoin is still a Canadian startup but enjoys the support of prominent players like Binance Labs. So, the initial ICO has done well, selling tokens through Ethereum.

The partnership between Stellar and Mobilecoin benefits the cryptocurrency a great deal, as shown by the way the pice has increased recently. Stellar will also benefit by being the coin that goes along with messaging apps. This will be a first outside China: an altcoin that works for money transfers in instant messaging apps.

According to Coinmarketcap, Stellar Lumens has been the best performer recently. It’s had a 16% increase in price, which is unparalleled by other coins right now. It went from $0.36 to $0.43 in a matter of days (10% growth in last 24 hours alone). Mobilecoin integration prompted this but experts expect even more. Here is why.

Reasons why Stellar Lumens will continue perming well

Stellar Lumens does not grow by earnings but by inflation. This means it makes the unavoidable laws of economics work in favor of users. The firm proclaimed that 100,000 new coins would be given out to coin users every week. That is distributed according to inflation rates and Lumen’s user members. No charges at all.

Then there’s usability. Stellars is about to join Lobster, and this means that users can get an account and become instantly able to trade Smartlands, KIN, Mobiu, and Terino at the touch of a smartphone’s click. It works on iOS and Android. It’s simple and easy to use. And, the e-wallet is safe because it allows for fingerprint and Pin verification.

Then, there’s the Repo’s coin airdrop, which has also made fans out of neutrals. Repo’s platform uses Lumen Consensus to get rid of the traditional ERC20 protocol. It solves non-payment issues, and the same technology solves the problem concerning securities by debtors.

A user would need to own at least 3 XLM to qualify for an airdrop, but every user who does could get $100 worth of coins in their wallet. This attracts new users and investors.

Ripple vs. Stellar Lumens

Both Ripple and Stellar have been in the top 25 always. They hold great potential which is not surprising when you realize they were both created by Jed McCaleb. But each answer to different questions, which is why they compete with each other (for the market share, and not the services provided). They are both performing well, but it would pay off to understand how they came to life.

The point in Ripple was to create faster, cheaper international transactions among institutions. Stellar was built using Ripple as a foundation. Actually, the point in Stellar was to improve Ripple and fix the problems it had. It eventually became a cryptocurrency on its own.

But Ripple has become quite successful, and many institutions have adopted it to do payments and transfers using it. It’s slowly becoming the means for international money transfers. Stellar’s coin also allows for that, so it’s been undermining Ripple’s markets slowly.

Ripple remains a lot more popular as institutions all over the world adopt it for transactions, internal or international. But Stellar performs better, especially over the last week. And chances are it will do even better as Lobster wallet integration and the Repo airdrop becomes real.

Still, be alert. Ripple could make a bold move that changes everything.

Keep an eye on the market because Ripple could seriously challenge stellar Lumen’s superior performance. If you are looking to invest in either currency, do your proper research first.

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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 BagoGames via Flickr

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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Altcoins

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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