Why Stellar trumps Ethereum for most use cases

in #stellar7 years ago (edited)

I think this is a good video as it explains why it's a vastly better platform for not just ICOs but for fast transactions, low fees, security, building on it, and how their smart contract system is geared towards avoiding developers from writing exploitable code as well as having a built in DEX (Stellarterm - which I've used without issues.)

All these features make it better than ETH in all those metrics and for the majority of use cases, XLM is actually the better choice. I think XLM is majorly undervalued due to the lack of the hype/marketing that ETH does.

Some extra stuff not mentioned in the video:

https://www.stellar.org/developers/guides/concepts/federation.html

Grandma may find long strings of letters and numbers intimidating but that doesn't even have to be a thing, and this is really good for mainstream adoption.

https://www.stellar.org/developers/stellar-core/software/admin.html

Anyone can run a validator node and there are several options of how to do this depending on your use case. A validator node or a few validator nodes can be set up for private business that chooses to only accept queries for your own services. (The project I'm working on utilizes this functionality, the cost is around what you'd pay for a small mail server so pretty low for what it is.) Therefore you don't have to be SOL when ETH has network issues due to things like Cryptokitties.

https://www.stellar.org/developers/guides/concepts/exchange.html

Distributed exchanges make the process of moving from asset to asset and eventually ending up via many hops to the asset you actually want to make payments or trade (which is still a big annoyance in a lot of cryptocurrency transactions) moot as cross-asset payments are supported, and not many platforms can claim this.

Stellar ICOs also allow contributions in BTC and ETH and potentially other coins as well, so that one doesn't have to go out of their way to buy XLM to invest if they don't want to.

I really see this also taking off in the third world and low income regions where expecting people to pay high fees and slog through long wait times if they can only afford lower fees is just going to make people not use your service. People need to have an incentive to use something new and change their habits regardless of how "disruptive" you may think it is, and a low fee and fast system would be more likely to be a good introduction to such areas of the world about cryptocurrency than expecting them to spend money they may not have on fees and have to wait for what could be a substantial amount of time occasionally.

XLM > ETH

It may take a while as ETH has the Vitalik personality cult and hype game cornered while most XLM projects (even Fairx) are more of the "stfu and code and don't hype till there's a working product" and we know this scene mostly runs on hype, hype and more hype nowadays...but eventually HODLing XLM will win out when people start realizing how much of Solid Shit ETH is and panic sell and drama llama and get hacked all over the place (lol oh wait this happens regularly, Turing complete smart contracts are unnecessary for 99.9% of projects and just introduces vulnerabilities, but we know Vitalik loves his technobabble.)

As always, don't take my word for it. DYOR.

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