Cryptoprocta Ripple and Stellar have a lot in common. For example, their founder, jed McCaleb. He was co-founder of Ripple after the left the infamous crypto currency exchange Mt. GOx. McCaleb merged with the current Executive Chairman of Ripple’s Chris Larsen, and together the two of the seer established industry of money transfer using Ripple. However, in 2014 McCaleb left and founded Stellar, a direct competitor Ripple. Since then, Stellar has achieved great success and is currently the seventh largest scriptaction with a market capitalization of over 7 billion US dollars. Initially working on the Protocol based Ripple, the Stellar team gradually made a few changes that actually made Stellar a completely different project.
Ripple is a non – profit company that earns money for its banking software solutions. He will also be able to sell a huge amount of XRP. Stellar is controlled by a nonprofit organization, the Stellar Development Foundation. The organization finances its operations through the sale of five per cent of the delivery lumen that has been postponed for this purpose. The company also accepts donations from the General public, which are subject to taxation. Stellar also received capital injections from some corporate donors, including Stripe and BlackRock.
Although the organizational structure of both companies substantially differ, their target market are quite similar. Ripple aimed at banking institutions and payment providers. CEO brad Garlinghouse says in his interview that the company currently attracts at least one Bank of weekly. Products Ripple – xVia, xCurrent and xRapid – reduce the time it takes to transfer funds from 5 days to three seconds, while reducing costs per transaction.
Stellar also facilitates cross-border transfer of funds, but focuses on the use of its platform for facilitating financial integration and, as reads the official website of the project aims to “expand access to affordable financial services for poverty reduction and to maximize individual potential.”
Who will be the winner of the fight vs Ripple. Stellar? Now Ripple has the advantage, and this is reflected in its market capitalization (more than $ 32 billion), which is almost five times more than the Stellar ($ 7.1 billion). Ripple are currently working with some of the largest banks around the world, including Santander, BBVA, UBS and Standard Chartered, and continues to connect to its network more banks and payment providers. The experts believe that Stellar, focusing on humanitarian aspects, also has a significant market potential for use, and although it may not yet compete with capitalization or amount of Ripple, still has enormous potential for success.
We will add, at the moment the stock market is in the red zone. The rate of Ripple shows a decline of 5%, the price per coin XRP is $ 0,82.
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