Stellar and Ripple have worked in a head-to-head competition, to determine if same as the blockchain partner to the financial sector, trying to provide speed and other blockchain benefits to financial transactions. According to a recent version Stellar has approached little to XRP and has registered 1.000.000 of accounts on it
Stellar, case of increasing use
Stellar, had been a coin with not many could have been lost if they exchanged cryptocurrencies. While most coins are adding value gradually, Stellar is digging a huge addition to its value, so the altcoin is climbing higher in the market rankings. So the announcement of having 1 million accounts on his ledger is not a surprise for many as sooner or later it should have happened.
– OrbitLens (@orbitlens) 27 August 2018
Stellar has been in constant growth and growing case of & # 39; use in recent times. In June, Stellar acquired Chain, the San Francisco-based start-up for blockchain technology for the financial sector, according to people who knew about the agreement. This gave Stellar access to Blockchain chain products that facilitate financial entities to transfer money and other resources directly, securely and almost instantly without too much trouble.
Stellar had also introduced in Singapore their concept of network ATM which could bring much more visibility to people who are not very familiar with the cryptic world.
Recently, Stellar was appointed by the Shariyah Review Board (SRB) as a Sharia-compliant network for Payments and Beni's Tokenization. The development has made Stellar the first distributed registry protocol to be certified as a digital currency compliant with Sharia. Furthermore, certification will contribute to increasing the use and popularity of cryptocurrency among Muslims, especially in the Middle East areas.
In addition to this, Stellar worked with IBM on the blockchain project that would allow banks to conduct transactions using Lumens and then rely on local market makers to convert lumens to local fiat currency.
In addition to the IBM Stellar Lumens partnership (XLM), it has also announced partnerships with:
SatoshiPay – a service that helps monetize a website through digital resources.
EXCH.ONE – a Swiss company that plans to cross digital assets and legal currencies that would like to include several currencies in the star network both on the European Union and outside it (UK and South / Central America).
Klick-Ex – the renowned cross-border payment service with a strong presence in Europe and the Pacific.
Mobius – a company that help them bridge to mobile devices and the ability to implement an intelligent contract with data for non-blockchain developers. Jed McCaleb, co-founder of Stellar, is part of this institution.
HashCash – a service that aims to create solutions for financial entities such as banks through the Stellar network.
In addition, read: Stellar [XLM] the best choice of this month, that's why it will continue to sell like Hotcakes
Ripple and Stellar – The same different focus of the industry
Although Ripple and Stellar come from the same code source and address the same industry, their approach and focus strategy are very different. Stellar (XLM) and Ripple (XRP) have different goals and walk on their own paths. The Stellar (XLM) developers are focused on helping startups while the people behind Ripple (XRP) collaborate with the banks. This shows us that Stellar (XLM) and Ripple (XRP) are quite different and will not compete at any time unless they cross one another
The way Stellar is moving , its enriching value for itself and its token holders. While Stellar continues to focus on helping startups, it is set to grow exponentially and monopolistically, unless Ripple goes beyond its path. However, the market is huge for stellar competition and emerges as a key cryptocurrency
. Will Stellar soon break the USD 1 mark as many analysts suggest on the street? Let us know your opinions on the same
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