I would start by saying, A lot of people confuse Stellar with Ripple in terms of the solution it provides which is kind of true. It is a banking technology similar to ripple but only in that manner. I would try my best to explain how Stellar's Lumens (XLM) is far better than Ripple and how I think it can wipe our Ripple (XRP).
What is Stellar?
Ripple & Stellar Lumens both share similar co-founder "Jed McCaleb". Where Ripple being completely centralized technology for banking system with initial investors like Google Ventures, SBI Group, Standard Chartered Bank etc. Stellar came up with a similar solution with a different approach, not only being decentralized but being an NGO as well.
The Major difference is Ripple is a backend technology solution for banks to exchange values overseas, kind of like SWIFT but only cheaper and faster.
Stellar can do the same thing, their approach is not only banks but also merchants all over the world.
To elaborate it properly, with ripple you can move your money fast, the only difference is your bank will be using ripple instead of SWIFT. with Stellar on the other hand, based upon changing any Fiat or CryptoCurrency to desired currency, which means your customers can pay you in Euros and you can get USD instead instantly.
Recently, Stellar has announced two different exchanges SDEX & FairX. Which will change everyone's thoughts about Stellar Lumens?
What is SDEX?
Stellar has announced their own decentralized exchange "SDEX (Stellar Decentralized Exchange)" for cryptocurrencies and all set to launch it very soon. Which I came across while I was doing some research on cryptocurrencies. You can have a look at the screenshot above and can visit the exchange with the following link.
What is FairX?
IBM has announced this exchange in partnership with Stellar. This one is going to be a game changer in not only crypto space but overall. According to my research and a lot of articles, news etc. FairX will be one exchange for all combining CryptoCurrencies, Commodities, Fiat Currencies and possibly stocks. With Stellar being the major pairing currency similar to BTC in almost all crypto exchanges.
This has also been mentioned in many places over the internet that FairX is will also be used as a direct payment solution, where you will be able to swap not only cryptocurrencies with fiat currencies but also commodities such as gold, silver, oil, and stocks.
If this is the case, in my personal opinion. This would a hammer on almost every cryptocurrency exchange. And will definitely take the crypto market to a different level.
However, there has been no official announcement from IBM or Stellar confirming the news of making commodities or fiat currency to be a part of FairX. you can check their tweets and tease on the official website fairx.io
Please let me know, what you guys think of all this, or if anyone else has further updates regarding these exchanges. I would love to read your thoughts in comment section below.
Please Note: Everything that I mention here is based on my own research and should not be taken as financial advice. Please do your own research before investing in any cryptocurrency.
For Newbies: http://www.BunnyChum.com/StartWithCrypto
