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It was a difficult month for Ripple. While cryptographic markets appear to be recovering, the rising wave has not lifted all the boats the same way, and the XRP token is still taking on water. To make matters worse, the referees are breathing Ripple's neck, while Stellar's boat has enjoyed easy navigation
If Jed McCaleb is doing a good job as Stellar's helmsman, it's because he's done a lot of practice. Stellar is his third attempt at the rodeo blockchain, after a long period as head of Ripple technology. It was also the brain behind a small dress called Mt. Gox.
It's not a perfect record, but it's enough experience to help McCaleb learn from his mistakes.
A Very Bad Breakup With The X … (RP)
McCaleb's bad break with Ripple Labs seems to have formed part of the rivalry between the two blockchain solutions. Even if we do not know the minutiae of their disagreements, the dispute was strong enough to bring Jed McCaleb to leave Ripple Labs in 2013.
"When I left Ripple, I accepted (and Ripple's lawyer sent a & # 39; confirmation email) sale restrictions applied to XRP by me or in the name of my children, "wrote McCaleb in a blog post. "But then Ripple – in direct contradiction with his previous confirmation – said that the sales of other people have violated my agreement, and have caused to Bitstamp the block of $ 1 MM belonging to Stellar."
But there they are two sides of each story, and Ripple was not shy about sharing theirs. "Jed has had a long series of bad ideas that the Ripple Board of Directors has refused to implement," said David Schwartz, who succeeded McCaleb as Ripple's Chief Technology Officer. "So Jed founded Stellar based on those ideas."
Writing on Quora, Schwartz continued:
"Jed tried to quickly download his XRP and Ripple acted to stop him through a series of lawsuits, thanks to Ripple's refusal, Jed's XRP probably worth more than $ 1 billion It will probably be the only one to become a self-built billionaire despite his best efforts. "
This is a tough argument to beat, but somehow undermined Ripple's claim to be a decentralized ledger. Legitimately justified or not, the freezing of the pawns of a departing founder has delivered many ammo to Ripple's biggest critics.
The Race For Adoption
With most measures, XRP has the clear advantage in terms of adoption. Not only has it tripled the market capitalization of the token Lumens, Crypto Briefing has already reported Ripple's extensive network of partnerships with banks and financial institutions, allowing the company to block over 50% of the Indian cryptographic market.
Ripple has a significant advantage … but although Stellar may be a latecomer, his collaborations are nothing to sneeze: in addition to IBM, the Stellar protocol is making deep break-ins as a quicker and cheaper alternative to Ethereum.
Who is more useful?
More precisely, XRP does not seem to have a clear advantage in terms of use. In exchange trading, XRP has more than twice the volume of the Lumens token; but in terms of spending, Stellar is in the lead.
At the time of this writing, the Ripple Ledger had reported a 24-hour payment volume of $ 55 million, a number diminished by the $ 173 million traded on the exchange. In the same period, according to StellarExpert, the star registers have processed almost twice the volume of payments of Ripple: about 91 million dollars in token.
It is not immediately clear why Stellar's trading volume should be so high, but part of the explanation seems to be a higher trading speed: while XRP tokens are priced higher, the Lumens tokens are used more often. . The Ripple Protocol is explicitly aimed at a banking and financial world that is still a little indifferent; many of the partnerships that Ripple announced are for testing purposes only at this early stage.
Stellar could have a smaller niche, but it was warmly embraced by companies with technological expertise and initial coin offerings.
It is not yet clear which of the Xs will end up on top, and if 2017 teaches only one lesson, it is that the first ones get a advantage
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This metric seems to prefer the XRP token, less than stellar lumens
If not, maybe McCaleb might find more luck starting again one other blockchain . Not that it needs XTRA money …
The author has investments in both the stellar lumens and in the XRP function
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