Although the cryptocurrencies XRP and XLM share the same goal of facilitating transfers quickly and at low cost, each has a different user segment and a specific mechanism of operation. So what is the difference between them?
XRP (Ripple):
• Developed for use by banks and financial institutions
• Operates on the RippleNet network
• Relies on a protocol known as Consensus Ledger
• Used for instant money transfers between banks at almost no cost
• Focuses on speed and liquidity between different currencies
XLM (Stellar):
• Mainly used by individuals and small businesses
• Operates on the open-source Stellar network
• Based on a mechanism known as Stellar Consensus Protocol (SCP)
• Facilitates cross-border transfers for people without bank accounts
• Aims to promote financial inclusion globally
What is the essential difference?
• XRP addresses the traditional financial system and focuses on institutions
• XLM addresses the average user and aims to connect everyone to the financial system
This comparison is very beautiful
Who combines both objectives
Confirms the existence of institutions
Know your business
KYB
And confirms the existence of individuals
Know your customer
KYC
With the largest community and the largest contracts
Then build an infrastructure of decentralized applications
And ultimately leads to complete decentralization of community governance by consensus
Consensus protocol for the Stellar network
Consensus pi network
Includes Ripple consensus
And Stellar consensus
Because it is the comprehensive digital currency
#الإقتصاد_الجديد $pi network
