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Stellar Lumens (XLM) vs Ripple’s XRP: Round Two

On the same path on how humans when facing an issue attempt to solve it while learning more, the crypto-verse made its introduction to overcome many problems we hurdle on a daily basis with. So, in a way most coins are presented before us with the idea to make the world a better place. The issues that the digital currencies deal with most are coming from the existing financial industry architecture and network.

Obviously more and more ideas made their debut in the ecosystem claiming they will do better than the other or previous ones. Of course, with time better technologies and versions of existing platforms made their appearance. With great importance is the subject of money/currency transferring between individuals within or cross-border range.

In the case of blockchains specialized in providing solutions to banks and payment providers to process cross-border transactions, 2 are the blockchains that currently dominate the sphere: Stellar XLM and the San Francisco based firm Ripple’s XRP.

Stellar Lumens XLM and XRP

The competition between the two started from the birth of Stellar XLM as Jed McCaleb initiated the non-profit Stellar Development Foundation after forming the parent company Ripple in 2013 which followed with him leaving his active position. This all as Mr. McCaleb sought to step-up the transactionary side of the verse.

One very key-mark when the battle between the two rose to new heights was when the leading crypto-exchange Coinbase announced that it is experimenting around with 5 digital assets: Cardano ADA, Basic Attention Token BAT, Stellar Lumens XLM, Zcash ZEC and 0x ZRX.

This hoisted a debate between the two-first row competitor’s communities as for a long time XRP enthusiast do ask the team from Coinbase to add their favorite token on the platform.

However, at the same time Weiss Ratings spoke very well (and that often) about XRP’s speed and how it could act as a perfect base currency for exchanges like Binance. That characteristic is by far one of the most important when it comes to transfers in global-range.

In the other hand, Stellar Lumens steps the cross-border transaction game up by partnering with TransferTo to boost international money transfer. This way, send&receive in over 70 countries will be completed very speedy and efficient.

The first round [Coinbase’s case] went for Stellar Lumens as many conclude by knowing that the exchange denied signs of testing XRP for listing it in the platform.

R. Two– In an interview for the Blockchain Podcast #66 of Finance Magnates  Anthony Barker, Chief Technology Officer [CTO] of Paris-based international money transfer firm Tempo, commented on the benefits of using blockchains for the financial industry and the reasons why this company’s team chose Stellar over Ripple.

“Stellar was sort of a natural fit for us … My gut reaction was that [Ripple] is not so good for community building … [It’s] much more like a Visa/Mastercard… I have a strong belief that open systems win in the long run.”

“We worked with Jed McCaleb and his developers, and we added compliance, so it’s integrated into Stellar as a standard 2nd-layer protocol … so we know how to send first name, last name, and date of birth across.

They added that really quickly simply because they’re really focused on this global remittance use case,”

This, by no doubts, is the opinion of one individual/group/firm and so one. However, we know that events like that can impact and inspire many to look more into one choice than the other.

Despite many choosing other options instead of Ripple’s XRP because of the words spread that it is too centralized, less of the nodes are run from the San Francisco based firm Ripple than the other 52%. On top of that Mr. Schwartz – CTO of Ripple, many times labeled even as the could-be Satoshi Nakamoto, commented how their chose protocol cannot be controlled by miners which can happen to Bitcoin or Ethereum becoming more centralized than believed.

By knowing the vast need of improvement in money transferring and how struggling and frustrating it is these days to complete it in a larger distance, there is a big future for both project ahead. Each year the crypto-verse is becoming more intriguing and attractive to enthusiast about.

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Ethereum Network Tokenized U.S. Dollars Trade made Possible by Tether

Transform Your Dollars to Crypto-Tokens

The leader in providing tokenized currencies Tether is offering tokenized USD on the Ethereum Network, a service on the second by market cap major cryptocurrency following only Bitcoin. In a simple context – traders, users and investors can change their government supported currencies into tokens which can be used to make exchanges easier and simpler.

On Sep 11 it was announced the launch of the ERC20 Tether tokens in partnership with Ethfinex – a trading platform and information hub on ETH network. If everything goes as planned many delays users very often have to struggle with will be cleared when they have to user businesses and banks services.

“The number of tokens and assets being tokenized on top of the Ethereum platform is growing rapidly, with many proving disruptive to traditional business models,” said Project Lead at Ethfinex Will Harborne. “By enabling all ERC20 compatible applications and protocols to integrate tokenized USD, we expect to see enhanced efficiency and further stability on the Ethereum network.”

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So in a nutshell, users will deposit the USD, it will be converted into a virtual currency named “Tether – ₮”. All of the Tether assets will have a name and symbol of their own to represent the trade which later can be used as an aforementioned ERC20 token.

Later on, it is expected the yen and euros will be supported on the platform and network too. TokenCard has been added on the partnership, making it possible for the Tether users to use their tokenized currency on the way that they are want like with traditional currencies.

This could be a complete system change and how we see or use cryptocurrencies and the tokens. Ethfinex did put out a very important target that the partnership has ahead: developing currencies that could be very simple and usable by users on everyday events in their daily life.

“We believe this development will not only open up the world of cryptocurrencies to more mainstream consumers, but also set the standard, and encourage other companies to be more innovative and accessible in their product and service offering at this pivotal time for money and payments,” said Tether co-founder Craig Sellars.

Blockchain technology in general is changing how things got done until now like the way we vote, entertainment industry, improved air travel and so on. If everything rolls out as planned for companies like Ethfinex, Tether and so on – the understanding and use of money could change entirely.

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