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QUESTION: Why's XLM pumpin? ANSWER:

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by COINS NEWS 128 Views

I always used XLM to send crypto between exchanges, but actually after seeing it pump today alongside XRP I basically did some googling and figured I'd take a crack at explaining it. Post will probably be removed but whatever.

  • Stellar and Ripple are both products of Jed McCaleb one of the co-founders of Ripple Labs. In 2013, McCaleb parted ways with Ripple and went on to launch the Stellar Development Foundation, creating Stellar as an open-source blockchain platform.

  • Both Stellar and Ripple employ similar consensus mechanisms known as the Stellar Consensus Protocol (SCP) and the Ripple Protocol Consensus Algorithm (RPCA). This shared foundation means that advancements and positive developments in one protocol often have implications for the other.

  • As Ripple gains traction and adoption, it inadvertently creates exposure for the broader Stellar ecosystem.

Feel free to add your own reasoning if I didn't cover it, just figured people are going to have this same question I had and I'd save some of you a google'n

edit: This post assumed the reader knows already of the XRP judgement. I know of that already. I'm answering why that judgement would have an effect on XLM.

submitted by /u/disgustingEvan
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