How does Stellar (XLM) differ from other popular cryptocurrencies like Bitcoin and Ethereum?

3 answers

• Mar 29, 2022 · 3 years ago
  Stellar (XLM) differs from Bitcoin and Ethereum in several ways. One major difference is the consensus mechanism used. While Bitcoin and Ethereum use proof-of-work, Stellar uses a consensus protocol called Stellar Consensus Protocol (SCP). SCP allows for faster and more efficient transactions compared to the energy-intensive proof-of-work system. Additionally, Stellar focuses on facilitating cross-border transactions and connecting financial institutions, while Bitcoin and Ethereum are primarily used as digital currencies and platforms for decentralized applications (DApps).
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• Mar 29, 2022 · 3 years ago
  When it comes to scalability, Stellar has an advantage over Bitcoin and Ethereum. Stellar's network is designed to handle a high volume of transactions with low fees and fast confirmation times. This makes it more suitable for microtransactions and everyday use. On the other hand, Bitcoin and Ethereum have faced scalability challenges due to their limited transaction processing capabilities. However, it's worth noting that Ethereum is working on implementing solutions like Ethereum 2.0 to address scalability issues.
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• Mar 29, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, provides support for Stellar (XLM) along with other popular cryptocurrencies. Stellar's unique features, such as its focus on cross-border transactions and efficient consensus protocol, make it an attractive choice for users looking for fast and cost-effective transactions. However, it's important to consider your specific needs and goals when choosing a cryptocurrency. Other exchanges also offer support for Stellar (XLM) and provide a variety of trading options for users.
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