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The rivalry between Ripple, XRP Ledger and Stellar Lumens has a long history. The most recent development in the relationship between the two companies comes from Cory Johnson, Ripple's Chief Market Strategist, who expressed his opinion on Stellar.
The foundation of Stellar in 2014 by Ripple co-founder Jed McCaleb marked a milestone in the cryptic world. The Stellar Lumens project was designed to allow fast, convenient and reliable cross-border payments. The project aims to create a unified payment system for financial institutions and people all over the world. Ripple has been developed with a very similar goal, only with the slight difference that Ripple focuses on the mainstream financial world. Obviously, a great deal of competition was inevitable.
Recently, rumors have spread that McCaleb is selling its XRP tokens, acquired at the time, to reduce the price of XRP. This led to the question whether McCaleb acted within the terms established by Ripple as a series of lawsuits against him exposed. The Ripple CTO, David Schwartz, clarified:
Jed had a long list of bad ideas that the Ripple commission did not want to put into practice. So Jed Stellar started based on those ideas …[he] he tried to get rid of his XRP quickly, and Ripple acted to stop him through a series of lawsuits.
When he decided to leave the Ripple, an agreement was reached between McCaleb and Ripple in which he had to sell all the shares of the company he owned. In return, McCaleb must slowly sell his XRP instead of selling it all at once.
Recently, McCaleb continued to insult Ripple, finding an example in an interview with CNBC, where he said:
It is very difficult to manage the nodes outside of Ripple Labs. The team handles most of the nodes that should be of concern to people.
Cory Johnson then talked about XLM and McCaleb and explained that Stellar does not have a large developer base:
"I do not really have an opinion about it, I mean, you know, obviously it's a super smart guy, but to build a big company that uses digital resources, that's a real challenge." There are many companies that are developing on XRP I do not know many who develop Lumens in addition to Stellar. "
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