$XRP Although the encrypted currencies XRP and XLM share the same goal of facilitating transfers quickly and at low cost, each has a different user segment and specific working mechanism.. So what is the difference between them?
XRP (Ripple):
• Developed to be used by banks and financial institutions
• Works 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
• Works on the open-source Stellar network
• Relies on a mechanism known as Stellar Consensus Protocol (SCP)
• Facilitates cross-border transfers for people without bank accounts
• Aims to promote financial inclusion globally
The fundamental 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 nice
Who combines both goals
Affirms the presence of institutions in
Know your business
KYB
Affirms the presence of individuals in
Know your customer
KYC
With the largest community and the largest nodes
Then builds an infrastructure of decentralized applications
And finally, moving towards complete decentralization for community governance by consensus
Consensus protocol of the Stellar network
Consensus of the pi network
Includes Ripple Consensus
And Stellar Consensus
Because it is the comprehensive digital currency
