As a seasoned researcher with years of experience delving into the intricacies of various cryptocurrencies, I must admit that Jed McCaleb’s statement about Stellar being “very different” from Ripple piqued my interest. Having followed both projects closely, I can see some similarities due to their shared origins, but McCaleb’s assertions about unique codebase, consensus mechanism, smart contracts, and higher transaction volumes are hard to ignore.
Jed McCaleb, the founder of the Stellar Development Foundation (SDF), recently stated that Stellar is, in fact, “very different” from Ripple.
To make things clear, Stellar and Ripple are distinct entities. They don’t share the same codebase, operate with different consensus mechanisms, offer unique features, and Stellar incorporates smart contract functionality, which sets it apart from Ripple.
In response to a jab taken by the founder of Cardano during a live broadcast, the ex-CTO of Ripple provided some clarity on the matter.
Hoskinson recently accused the Wyoming Stable Token Commission team of bias due to snubbing Cardano. Meanwhile, Stellar was included on the list of networks that were determined to be in-scope for the initial deployment of Wyoming’s state-backed WYST stablecoin project.
As a researcher, I find myself clarifying: It seems that, based on the evaluation standards, Stellar possesses capabilities that Ripple does not.
The Cardano founder noted that Anthony Apollo, current head of the Wyoming Stable Token Commission and a previous employee at Ethereum development company Consensys, seems to have had a past with Ripple. He then humorously suggested, “It appears as though consensus isn’t on the best terms with Ripple, doesn’t it?
The most underrated crypto project?
According to U.Today’s report, the Stellar token (XLM) has seen an impressive surge, reaching new heights not seen in years.
It’s common to find a high degree of similarity in the price movements between the XLM token and the XRP token, which is often associated with Ripple. This is probably because they are frequently grouped together in investors’ portfolios.
This past week, McCaleb pointed out that the cryptocurrency project Stellar is often underestimated and not well-understood.
He mentioned that Stellar handles significantly more daily transactions than all but two other networks, processing approximately ten times as many transactions per day as Ethereum. Moreover, a substantial number of real individuals are currently utilizing it for genuine real-world transactions.
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2024-11-26 23:02