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

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Stellar Ripple

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.

https://twitter.com/StellarLumens/status/988656661052182528

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

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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 been…

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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