Did Stellar Change the Market of Ripple?
July 19, 2018 11:38 am
Recently, the U.S based exchange Coinbase made surges across the market of cryptocurrency by declaring that it is going to examine and potentially add five new currencies to its exchange. Among those listed cryptocurrencies, Stellar’s XLM which a digital currency that not only reflects XRP in its functionality but also shares related sources to the parent company Ripple.
Jed McCaleb, who is the founder of Mt. Gox, sold his exchange and turned his cryptocurrency efforts to conceive a new currency. After securing funds and putting together, a development team Ripple was formed that led to the creation of the cryptocurrency XRP. Although, in 2013, McCaleb left his active role with the company in search of new ventures.
Trough using what he had learned through the development process of Ripple, McCaleb began the non-profit Stellar Development Foundation and led to the creation of the Stellar Consensus Protocol and XLM currency.
Is Stellar Competing with Ripple?
XRP and XLM both share a similar amount of extension in their founding roots and development protocol, both of them are composed to solve the similar real-world problems through their solution of digital payment. They both target in developing the area of cross-border payments and remittance to provide the huge monetary distribution to the unbanked populations over the world.
If we talk about their price, here is the result according to Coindelite Price Chart:
XRP Price Chart:
XLM Price Chart:
Anyhow, if we could observe both the XLM and XRP, they are on the same track as the race. It might take some time to get the results that whether Stellar is going to win the Battle or Ripple is going to win the Battle.