"Decentralized network necessary for cryptocurrencies 2b successful" - Stellar

[JuniAiko]

Stellar Lumens [XLM] creator explains his tiffs with Ripple [XRP] before quitting
https://bitcoinwarrior.net/2018/03/stellar-lumens-xlm-creator-explains-his-tiffs-with-ripple-xrp-before-quitting-it/

The co-founder of Ripple and creator of Mt. Gox exchange which was sold in 2011, Jed McCaleb explains why he parted ways with Ripple. He claims that a decentralized network is necessary for a cryptocurrency to be successful in the long run. He split off from Ripple and formed Stellar later in 2014.

According to him, a centralized financial payment system will be no better than PayPal or Swift. He told CNBC’s “Fast Money” on Friday that decentralization creates a path for network growth and ubiquity.

During the same, he also expressed his beliefs stating:

“SIMILAR TO THE INTERNET, THE REAL VISION IS THAT YOU HAVE A NETWORK THAT ANYONE CAN PARTICIPATE IN. THERE IS NO SINGLE CENTRAL ENTITY THAT CAN DECIDE ABOUT STARTING THE CHARGING. THIS WAY WE CAN ACTUALLY GROW AND REACH UBIQUITY. THAT’S THE KEY THING TO TASTE SUCCESS WITH THESE THINGS.”

Jed has been a pioneer on many fronts in the crypto and blockchain world. He blasted Rippled while he explained the reasons for quitting there and starting his own in the same year. After disagreements about his views on how Ripple should operate, he waved goodbye forever only for the betterment of his own. At one point, he was frustrated with Ripple as he saw it lacked vital decentralization.

He expressed regarding this earlier:

“IT’S VERY HARD TO RUN NODES OUTSIDE OF RIPPLE LABS. THE TEAM IS RUNNING THE MAJORITY OF THE NODES, WHICH SHOULD BE CONCERNING FOR PEOPLE.”

The discussion extended turning towards his current project, Stellar where he explained the importance of maintaining nonprofit status in a crypto company. This is what the Stellar Foundation follows when compared to the non-profit origin of the internet.

Stellar Lumens is currently trading at $0.223 and has been increasing considerably recently. XLM is ranked 8th among the largest cryptocurrencies by a market capital which is worth $4 billion. The transaction time is less than 5 seconds which is way faster than the crypto leader Bitcoin, Jed noted.

Paulo, a Stellar Lumens investor and Jed’s follower says:

“JED IS AN EXAMPLE OF DETERMINATION AND PASSION. YOU HAVE BEEN INSPIRING ME WITH YOUR WORK AND THE WAY YOU KEEP YOURSELF MOTIVATED IS TRULY COMMENDABLE. WE ARE SURE STELLAR WILL GROW BIGGER AND KEEP GETTING BETTER IN THE COMING DAYS. GOOD LUCK BUDDY, WE ARE WITH YOU.”

The post Stellar Lumens [XLM] creator explains his tiffs with Ripple [XRP] before quitting it appeared first on AMBCrypto.

Stellar is now in a tight knitted partnership with IBM, and also a part of the massive NEO-ecosystem.
Follow this whole series by BlockChainBrad breaking it down: https://www.youtube.com/watch?v=Tb4movhMWi4

[Hydrogen]

Interesting content. Thanks for posting + merited.  

I have to ask, does Stellar's creator always type with CAPS LOCK ON. Hahaha. That's funny. Interesting contrast between how ripple and stellar do things differently. Also was not aware Stellar operated on a "non profit" basis. The point about Ripple operating all of the nodes under a centralized paradigm is also interesting. I wish more content like this was posted on this forum. Somehow good posts get buried while boring and mundane ones are constantly are bumped to page 1. It almost makes me wonder if there are people paid to spam on this forum and kill any good discussion or points of view that are shared here.

I would like to hear Jed McCaleb elaborate more upon specific advantages he believes decentralization have. That appears to be one of the key points, the specifics which often go unaddressed. Also thanks for sharing the youtube link I'll definitely check it out later & subscribed to that channel.

[JuniAiko]

LOL, the caps lock is due to the cut and paste on my part directly from the article though.

And thanks for the meriting!!! That is appreciated H₂.

Btw, another contrast btwn Stellar and Ripple is that Stellar is distributing the coins collected from very small fees (as one of their mechanism to prevent DDoS attacks) to the community via periodic airdrops. A good % of the XLM tokens were also distributed to the common people via airdrops. Stellar adopts a slight inflationary policy (in contrast with Ripple's small coinburn from every transactions made) as a method to prevent "coin-death" (i.e. coins in addresses where owners were either dead, have lost their password, and etc.) to ensure the long term health of the XLM currency.

But I believe the biggest thing Stellar have it going for them is their partnership with IBM and with the massive NEO-ecosystem.

Because Jed McCaleb (the genius/brains behind the Ripple network) had already left the Ripple company after falling out with the other top-executives due to differences in vision that he has.
He then moved on to create the Stellar network from scratch, an improved version of his idea/design for Ripple, based on what he had learnt when he built the Ripple network that have now been taken over by the corporate minded executives.

Ripple is a for-profit company servicing the "too-big-to-fail" banks; while Stellar is a non-profit organization aiming to bank the unbanked (starting their adoption push in developing countries) -- functioning as a decentralized bank for the people rather than servicing centralized for-profit banks with money-sucking executives and CEO.

Stellar is also tightly partnering with IBM, and which is now part of the NEO mega-ecosystem too (together with Ontology, Elastos, OnChain, and so on..).

Stellar also now has its own DEX and can support ICOs too.