- Charles Hoskinson claimed Ripple and Stellar are similar, prompting Jed McCaleb to refute this via tweet.
- McCaleb clarified that Stellar differs from Ripple with unique code, consensus mechanisms, and smart contract
- McCaleb called Stellar “the most underrated crypto” with vast real-world applications.
Jed McCaleb, founder of the Stellar Development Foundation (SDF) and former Ripple CTO, has clarified Stellar with Ripple. Since there are comparisons between the two networks, McCaleb stressed the fundamental differences, including unique codebases, consensus mechanisms, and features.
His remarks came in response to comments made by Cardano founder Charles Hoskinson, who recently critiques Solana and said that it is inconsistencies in blockchain adoption. That Stellar’s inclusion in Wyoming’s state-backed WYST stablecoin project while Cardano was overlooked.
Hoskinson suggested potential biases in the selection process, pointing out that Anthony Apollo, Executive Director of the Wyoming Stable Token Commission. He previously worked with Ethereum development firm ConsenSys. “It’s almost as if consensus doesn’t get along so well with Ripple,” Hoskinson said.
Stellar’s Impact
XLM recent rise in adoption highlights its unique value proposition in the blockchain space. According to McCaleb, Stellar processes ten times the number of daily transactions compared to Ethereum, underscoring its efficiency and real-world applications. He also described Stellar as “the most underrated and least understood crypto project,” highlighting its ability to facilitate seamless and cost-effective cross-border transactions.
Unlike Ripple, XLM’s focus extends to enabling smart contracts and integrating advanced functionalities, making it more adaptable for diverse use cases. These features align with XLM’s vision of fostering financial inclusion, especially in underserved markets.
Market Momentum and Recognition
XLM’s inclusion in Wyoming’s WYST stablecoin project and its recent multi year price rally reinforce its growing prominence. While the XLM token often correlates with Ripple’s XRP. As McCaleb emphasized that Stellar’s mission and capabilities are fundamentally distinct. This perspective is supported by its recent performance, with XLM surging 85.12% in the past week before facing a minor 13% pullback, as per CoinMarketCap.
With Stellar already outperforming most networks in transaction volume and expanding its real world use cases. McCaleb’s statements underline its potential to redefine digital finance.
