Ripple (XRP) or Stellar (XLM) –Cryptographic currencies are coming out of their shells. The decentralized world could be dismayed with massive moves of cryptographic coins for legal adoption.
The nail in the head is collaborating with platforms that until now had been literally inserted into the blacklist by blockchain technology as oriented and selfish.
At the moment, it seems to encrypt the war and will soon increase in proportion. The technology behind Ripple and its currency, XRP is fighting against the nearest arch-rival, Stellar which supports the coin, Stellar Lumens (XLM).
It remains to be seen how long the war will drag, but what is clear is that one of the two will emerge victorious. It will be enough to delight in the problems presented by Ripple (XRP) and Stellar (XLM) the one against the other.
The struggle for cross-border payments
Ripple (XRP) was launched in 2012 and within six years has made huge moves that have increased its market value – moves that have earned it the third place in market capitalization.
In the beginning, Ripple (XRP) was interested in making cross-border payments seamlessly. Having done well in this regard, it became ironic that Stellar (XLM) had thrown his hat into the ring and tried to replace Ripple (XRP).
This move had perhaps informed the massive push of XRP to have many platforms on its side to reduce the apparent Stellar domain (XLM).
Investors seem at a loss on which of the two coins should be used. Although many had launched XLM against XRP, it would be unfair to rush to hasty conclusions without giving a fair hearing to both sides. The undertone is that Ripple (XRP) was started before Stellar (XLM) came on board.
However, this is not enough leverage and a few insights into their functionality will put an end to the arguments on the best of the two.
Stellar (XLM) set to Topple Ripple (XRP)
Throughout 2012 and 2013, Ripple (XRP) had dominated the arena of cross-border transactions. Its solutions seemed to have become rough in the users' mouth after Stellar (XLM) was launched in 2014.
Since then, XLM has made moves to launch Ripple (XRP) away from the scene.
First of all, he had worked with IBM; a move that analysts believe will give XLM the upper hand in cross-border payments. The move was to be the input of Stellar (XLM) that will bring users who wanted a currency with a legal basis for their cross-border payment solutions.
In addition to this fact, Stellar (XLM) seems to work in accordance with the dictates of blockchain technology – user-oriented governance.
The coin, XLM is channeled to help users make seamless payments across borders. When contrasted with Ripple's XRP, it becomes clear that XLM seems to have more chances of getting users.
Ripple (XRP) could be better
Although Stellar (XLM) was able to work with the respected IBM and allowed end users to access its currency, there is still a lot to see how the larger population will take care of it.
For example, Stellar (XLM) has boasted of helping the population not to have access to payment solutions even without a bank account, it becomes ironic how this can be discounted. Banks still have a role to play and this is where Ripple (XRP) becomes bullish.
Ripple (XRP) had been adopted by many financial platforms such as banks. These platforms understood the threat that an XRP payment could represent for them and had quickly brought some of their services to RippleNet; Ripple technology for cross-border payments.
Ripple (XRP) or Stellar (XLM): Observing the Similarities
The fight becomes interesting here. Ripple (XRP) and Stellar (XLM) have common goals: making cross-border payments faster, decentralized and less expensive. Both coins shared the founders. Jed McCaleb, one of Ripple's developers (XRP), had been on the team that created Stellar (XLM).
Both coins do not require mining because of the private knots they are made of. The other similarity is the goal of making transactions faster and more expensive as well as using distributed registry technology to make them possible.
Why Ripple (XRP) rises above Stellar (XLM)
So far, much has not been seen on Stellar (XLM) in terms of revolutionary partnerships. The coin seems to have a small staff; a development in contrast to the hi-tech members of Ripple (XRP).
Ripple (XRP) is more than a cross-border payment solution but a strong tower in the crypto community; a fact that is replicated with its third place on market capitalization. Although both currencies can coexist, Ripple (XRP) offers better possibilities in cross-border payments.
Perhaps the main reason why Stellar (XLM) lost the race to offer cross-border payments was his centralized training. XLM is designed to be used by end users.
Ripple (XRP) for its part is open to everyone; banks have adopted their products as xRapid and end users can use the currency for international payments.
So, the topic on which of the coins is best for cross-border payments can now be put to rest. Except that Stellar (XLM) improves on its network and brings other key members into its team, Ripple (XRP) will continue to drive in cross-border transactions.