Stellar vs Ripple - The new Swift
Hello Stemians and Investors, today we gonna overview the differences between Ripple and Stellar, fasten your seatbelts we are starting
Background
Ripple - is a blockchain solution for cross-border payments. They are working with banks, the main idea is instead of making a swift the transaction amount is transferred to the equivalent amount of XRP and when it will reach the second gateway banks it will be retransferred to the original currency, helping banks to have a faster and cheaper way. Any type of currency can be exchanged including USD, euros, RMB, yen, gold, airline miles, and rupees. Ripple is centralized, most of the tokens are belonging to a few persons and held by private institutions.
Stellar - Forked from Ripple, and created by the same founder Jed McCaleb, is the same idea of fast cross-border payment as Ripple but with a few twists. First, it is an open source (decentralized) and targeting cross-border payment with merchants and ordinary people, P2P and B2B.
The Stellar protocol is supported by a nonprofit, the Stellar Development Foundation. As a nonprofit organization, they are aiming to develop the world.
You only need the XLM (Lumens coins for the transactions) and don't need a large amount of it
Technology
Fast transactions between 3-5 sec transactions, Lumens and XRP are premined.
Team/Personalities
Ripple
Founder Ryan Fugger - a web developer in Vancouver, British Columbia
Chief Strategist Arthur Britto - Bistamp Board Member
Chief Cryptographer David Schwartz - Chef technical officer at WebMaster Incorporated.
Chris Larsen - founder of the lending services companies E-Loan and Prosper
Stellar
Founder Jed McCaleb - ex Ripple member, creator of eDonkey
Board Member Keith Rabois - had executive roles at PayPal, LinkedIn, Slide and Square
Board Member Patrick Collison - He is the co-founder and CEO of Stripe.
Board Member Matt Mullenweg - He is best known for developing the free and open source web software WordPress, now managed by The WordPress Foundation
It looks that both have solid teams
Partnership
Ripple has signed with banks as National Australia Bank, National Bank of Abu Dhabi, ReiseBank, Royal Bank of Canada, Santander, SBI Holdings, SBI Remit, Shanghai Huarui Bank and American Express
Stellar has a partnership with IBM and KlickEx to lead the new cross-border payments solution.
As you can see this is the same system targeting other markets.
Happy trading
I think ripple is temporarily being sparked and air will crash before we know it
There is no need for banks in a blockchain environment. This is the 1% elitists last straw at confusing the general populous about the blockchain technology. Don't buy ripple, or anything that has banks written all over it. Read the Bitcoin whitepaper and get yourselves educated on the true nature of the technology. We need total decentralization, free of corporations. Lets buy and sell directly with each other rather, because the technology is already here to allow us to do exactly that.
Zcash and monero are good investments, because we can send the money secretly!
Exactly!
Yes your'e really have a point! XRP will kill Crypto! Trade all your Ripple for Cardano! Or what ever you want just don't hold it and buy it!
You really need to listen to the CEO Brad Glaringhouse discuss this on a podcast I just posted. He makes some very clear points that have real world applications and realities about banks and centralized blockchain tech. To an extent you are correct but he blows up part of that in his interview.
https://steemit.com/xrp/@libertyranger/xrp-ripple-ceo-brad-garlinghouse-interviewed-on-badcrypto-podcast
I think xlm is a good fork because it is more decentralized
XRP is the Bank remittance coin, and banks are not going anywhere
XLM is the peoples remittance coin, people like banks are not going anywhere.
Both have a place in society and Both are safe bets.
both seem to be doing great at the coin market of late, they surging dailing and their market cap has grown tremendously. they seem to be targeting the same client the banks
Great concise summary - thanks.
I hadn't appreciated that the stellar founder is ex ripple nor that the founder of wordpress is on its board.
It looks like board of stellar is the more "stellar" of the two, despite ripple's current meteoric rise...
I see what you did there.
I also am a huge XRP supporter but think Lumens is a better bet long term for the cost of investment at this point. That being said I got in REAL early in XRP so I stand to lose less then $1000 for a possible $100,000 return. XML I got in early also and look to make a cool million. For me both are good to HODL long term
Wow - that's fantastic news. I was a little late to both of them but agree that Lumens is still within range to top up at a reasonable price.
Anything else caught your eye to get in early at this stage (not professional advice of course ;))?
Thank you for the explanation.
I personally also thought about investing in XRP, as it soars massively. Now, I think its too late. I see potential to tripple this year, but according to the act market cap of 100bUSD, even this might be too ambitious. Let's see
Hopefully stellar will go interstellar
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I think as more banks entered into ripple system the token will cost much more than 50 usd in a year time so better to buy them now than letter.
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