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Jed McCaleb, founder of Stellar Development Foundation, has outlined key distinctions between Stellar and Ripple. This comes as Stellar's XLM token hits multi-year highs, supported by its role in Wyoming's WYST stablecoin initiative.
Stellar Stands Apart From Ripple
Stellar is "very different" from Ripple, according to Stellar Development Foundation (SDF) creator Jed McCaleb.
Following criticism of Solana by Cardano creator Charles Hoskinson in a recent livestream, the ex-Ripple CTO provided this explanation.
After the Wyoming Stable Token Commission passed on Cardano, Hoskinson recently claimed that they were biased. In the meanwhile, the initial deployment of Wyoming's state-backed WYST stablecoin initiative will include Stellar among the networks that are considered in-scope.
Wyoming Stablecoin Decision Draws Attention
"So, let me get this straight. Apparently, Stellar can do stuff that Ripple can't do according to the scoring criteria," he remarked.
The founder of Cardano also brought up the fact that Anthony Apollo, who is now the head of the Wyoming Stable Token Commission, used to work for Ethereum developer Consensys. "It's almost as if consensus doesn't get along so well with ripple, isn't it," observed the author.
U.Today said that the Stellar (XLM) coin lately saw a raging rise, reaching multi-year highs.
Stellar Outpaces Ethereum in Transactions
The XRP coin, which is associated with Ripple, and the XLM token usually go hand in hand. The fact that people tend to lump them together metaphorically is probably to blame.
Stellar, according to McCaleb's earlier statement, is "the most underrated and least understood crypto project."
"Stellar already does way more transactions per day than all but two networks. 10x the number of transactions per day than Ethereum. Many real people are already using it for actual real-world transactions," he said.
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