Stellar (XLM) and Ripple’s XRP are two competing cryptocurrencies that both provide real-time payment settlement platforms and aim to establish a global blockchain payments network for the world’s financial institutions to run on.
While these two cryptos are very similar, there are some key differences in their protocol structure.
XLM has been touted as being more decentralized than XRP, but after the Stellar network went down for 2 hours last week, people are beginning to question its viability.
Voicing an opinion on this matter is blockchain industry insider, Emin Gün Sirer questioned Stellar’s level of decentralization and suggested Ripple may be a clear winner in light of XLM’s recent shutdown:
Moreover, according to Stellar CTO Nicolas Barry who spoke with crypto news outlet The Block, the Stellar network shut down because it’s being too decentralized too fast, and the system did the right thing by halting the network.
However, many people including the industry expert above will argue that this shutdown represents major flaws to Stellar’s protocol and puts Ripple’s XRP as the front running payment network protocol.
Which cryptocurrency do you think is better, XLM or XRP? Let us know what you think in the comment section below.
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