March 15, 2019, | AtoZ Markets - Coinbase listed Stellar (XLM) on Coinbase Pro a few weeks after it listed the XRP Ripple. Such a move of the crypto exchange attracted Weiss Ratings attention. Does the leading company in financial ratings consider that Stellar is better than Ripple?
Is Stellar better than Ripple?
To find out whether Stellar is better than Ripple it is better to investigate the common and different features of both projects. Stellar was founded in 2014 by Jed McCaleb who is also the founder of Mt. Gox and co-founder of Ripple. The Stellar network is open source, distributed and community-owned. The network allows facilitating cross-asset transfers of value around the world. The organization that supports Stellar is centralized like Ripple and handles cross-platform transactions and microtransactions. Unlike Ripple, the Stellar network is non-profit and the platform is decentralized. Through the use of its intermediary currency Lumens (XLM), a user can send any currency that they own to anyone else in a different currency. Currently, it is the 8th largest cryptocurrency by market capitalization.
Ripple in a brief
Ripple is a real-time gross settlement system and currency exchange created by the company under the same name. The Ripple Transaction Protocol is built upon a distributed open source internet protocol, consensus ledger, and accepts its own decentralized native digital asset known as XRP.
Stellar and Ripple joining the race?
After XML being added to the list, the firm stated that due to its superior technology it will eventually become more common than XPR. Among the leading cryptocurrencies, XRP and XLM have a common goal - to facilitate cross-border payments, which automatically leads them to the race. Both payment networks initially used the same protocol. From the point of view of cross-border payments, until now Ripple was the leading and essentially the only such project. Weiss Ratings, in its turn, highly appreciated the project for the quality of the services it provides, which only confirms the fact previously mentioned.
According to some sources, Ripple has over 200 institutional clients around the world. This is followed by more potential clients such as the eToro Israel Exchange.
Coinbase elevates Stellar
According to some experts, it is surprising that Weiss Ratings evaluates Stellar technology as superior to XRP technology.
Despite the possible superiority of the Stellar technology over the Ripple, for unknown reasons, the Stellar project has so far not been so popular. In addition, the Stellar network does not have as many clients as Ripple.
The listing on Coinbase can provide Stellar with the ability to navigate the market on its own, as the demand for payment services between digital currencies and fiat is growing significantly.
In addition, due to several problems associated with Ripple, such as centralization and security issues, XLM may become a more attractive option in crypto space.
Stellar might lose its positions, but experts do not lose enthusiasm
The XLM has done well in the past few days, not even paying attention to the bearish dynamics in the market. It flourished when other cryptocurrencies struggled to stay afloat. However, this early morning, Binance Coin (BNB) has just taken the seventh position to push it to the eighth position, approximately 72 hours after its listing. However, despite the not very good start, experts hope that everything will return to normal, as it was before the listing.
What do you think? Do you agree that Stellar is better than Ripple?