Stellar (XLM) is more than just a solution for peer to peer cross border payments. When Stellar Lumens (XLM) entered the market, cryptocurrency enthusiasts started to see it as a Ripple (XRP) competitor because that was how it came into existence. Jed McCaleb, the founder of Stellar (XLM) was originally a Ripple (XRP) developer who after some fundamental differences with the rest of Ripple (XRP) developers went on to found Stellar (XLM). The reason why Stellar (XLM) became a direct Ripple (XRP) competitor was because of its core philosophy to focus on the end user rather than the middle men. Ripple (XRP) wants to empower the middle men whereas Stellar (XLM) wants to cut out the middle men. This is what made Stellar (XLM) more acceptable in the crypto community in its early days.
However, recently we have seen investors interested in distributed ledger technologies flock towards XRP/USD more than XLM/USD. One of the biggest reasons for this major sentiment shift is that Ripple (XRP) is selling a dream but Stellar (XLM) is not. Stellar (XLM) founder, Jed McCaleb recently admitted in an interview that they lagged behind in marketing. He also said that they plan on making up for such deficiencies in 2019. Until recently, Stellar (XLM) has promoted itself as a competitor in the cross border payments industry but recently, they have been focusing on other uses of their blockchain as well. The team behind Stellar (XLM) seems convinced that Stellar (XLM) will become the preferred ICO platform in the years ahead. This is because Stellar (XLM) is faster, cheaper, secure and more scalable.
Chart for XLM/BTC (1W)
The strategic partnership between Stellar (XLM) and IBM is unlike any other major partnership we have seen in this space.