shillingthemsoftly posted on October 03, 2019 16:44:59
$XLM or Lumens are the currency tokens of Stellar. Stellar Lumens.
First of all like many projects in the cryptoverse there are rivalries (ETHvs.EOS; BTCvs.LTC; and finally XRPvs.XLM) XRP is a scam so XLM automatically beats it however here is why.
The idea behind Ripple is the ability for banks to make international transfers within seconds at almost no cost.
Stellar Lumens is for the average person, particularly those in the developing areas of the world, although banks can still use it.
The focus of Stellar is on increasing the abilities of those in poor or less-developed countries to interact in the global economy with nearly instant and highly affordable transactions. Stellar is more robust, easy adoption, and is decentralized.
While they are essentialy the same the blockchain and target really make a difference.
kurtwuckertjr posted on October 28, 2019 21:44:20
XLM is just XRP with more centralization and less liquidity. They have the same business vs token confusion and it’s run by a bunch of dropouts from Ripple too. Another redundant, unneeded, generic blockchain project.
stellarowl12 posted on November 05, 2019 09:30:42
Stellar (and XLM) was born when Jed McCaleb had a disagreement with his co-founders at Ripple (XRP) over mission/direction of the project. So Stellar is super similar in its goals - basically it's a payments infrastructure primarily focused on easy/cheap/global payments.
One thing I really do like though is Stellar's mission. They want to make it super easy, accessible, environmentally-friendly, and much more open/decentralized compared to Ripple. There's already a lot of development going on in the Stellar ecosystem due to the great work by the Stellar Development Foundation (SDF). There are companies that build tokens/stablecoins on top of Stellar and even other projects that just utilize the SCP (Stellar Consensus Protocol) since it facilitates super fast and cheap transactions on-chain.
Bonus note: recently the CEO of Stellar announced in early Nov. 2019 that they did an in-depth analysis of how many XLMs or lumens they'll actually need to accomplish their goals and they decided that the total supply dedicated to them was too much. So they decided to burn HALF of their own supply (55 billion XLM). Price shot up immediately afterwards in the market but regardless I have to give them props for being honest about their goals and what's needed to achieve it!
Crypto Anonymous posted on November 05, 2019 21:38:07
Oh yes the Ripple fork by Mt Gox founder Jeb McCaleb; who some believe to be partly responsible for events around the collapse of that exchange, or even being a major cause of it, so at the very least he is quite controversial. On top of that him leaving the Ripple project and forking it into its own can be explained in a good but also in a bad way.
The project has however on the other hand quite a good reputation within the crypto community, broadly speaking. Good to note that they did not do any ICO, but largely airdrops and other ways of distributing tokens in 'fairer' ways (accompanied with KYC requirements unfortunately). I have heard that many token projects were considering moving from Ethereum to XLM, and perhaps a number did and that insiders were positive about the project. Although my opinion about XLM shifts from time to time, I am not convinced that it is a truly respectable project.
However, keep in mind that this project is quite centralized and the vast majority of tokens are in possession of the organization.
Probably in order to boost the price they announced to burn about $4.7 billion of tokens, according to this article: https://cointelegraph.com/news/stellar-burns-over-55-billion-tokens-worth-47-billion-usd.
My current opinion much coincides with a few comments I read on facebook:
"Showing that a coin can be manipulated by a centralized authority making a decision behind closed doors doesn't do the coin or project any favors. May as well fork back into XRP."
Or this one: "we can't get anybody to buy our scam coin, so let's burn half of the supply to pump the price!"
So no, I am not a fan.
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