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Blockchain technology has come to revolutionize the financial system. While Bitcoin (BTC) has introduced decentralization and promised a new era without centralized authority, it has struggled to achieve transactions and scalability faster than transactions. However, the introduction of altcoins such as Stellar (XLM) and Ripple (XRP) redefined the blockchain to get much more than what Bitcoin was capable of.
Ripple (XRP)
Ripple has grown over the years to become the third largest cryptocurrency project in the marine market with a market capitalization of $ 10 billion. The platform was conceived right from the start for business use. The official token, XRP currently offers banks and other providers of digital payments of cross-border payment services that are real-time, reliable and on demand. The platform has developed solutions that help banks find cash on instant demand and, at the same time, eliminate the need to pre-fund our accounts.
Service providers around the world have been attracted to XRP for their desire to expand and increase influence in new markets. Furthermore, XRP offers cheap, reliable and fast transfers. XRP transactions settle in 4 seconds compared to Ethereum (ETH) 2+ minutes while Bitcoin (BTC) 1+ hours. On the other hand, traditional cross-border transfers in the financial system require 3-5 days to process a transaction in completion. In addition to this, XRP is remarkably scalable with the ability to comfortably support 1,500 transactions per second (TPS).
Ripple xRapid, xCurrent and RippleNet payment solutions networks have been a turning point in the fund transfer industry. RippleNet promises banks and other payment service providers "A frictionless experience to send money globally." Performs Ripple's advanced blockchain technology and supports XRP payments. At present the service has over 100 customers and more than 75 who are doing commercial implementations. RippleNet has partnered with MUFG Bank, Santander, Standard Chartered, MoneyGram, American Express and many others.
Stellar (XRP)
Stellar, on the other hand, is a rising star in the cryptocurrency industry. Furthermore, the platform is committed to ensuring that cross-border payments are simple, quick and convenient. Stellar is the 6th th largest digital asset on the market with a cap of $ 3.6 billion. The platform was initiated by one of Ripple's founders, Jed McCaleb in 2013. The rivalry between the two cryptocurrency giants began a long time ago
Just like Ripple, Stellar is a platform that connects banks, payment systems and people common. This is achieved by ensuring that funds are transferred at a minimum, rapid and reliable cost. Stellar has become the future of the banking industry through mobile solutions such as mobile money subsidiaries, micropayments. The platform exists to connect people to financial services and, in particular, to companies that are not rented. XLM is able to "facilitate low-cost payments between different currencies". Stellar transactions settle in 2-5 seconds in addition to high scalability levels.
The battle in 2018
Ripple (XRP) is much bigger than its rival not only in adoption but also in market capitalization. The network has signed hundreds of partnership agreements with banks and payment institutions. Furthermore, the presence of Ripple in the cryptocurrency market in India continues to grow (currently over 50%). This can be attributed to the significant advantage of Ripple. However, Stellar is coming with a computing power especially with the remarkable partnership with IBM. Likewise, it is being marketed as a better and cheaper alternative to Ethereum in terms of payments and development.
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