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McCaleb pointed to Stellar’s low transaction fees and its focus on safety and efficiency, particularly through its smart contract platform, Soroban. McCaleb highlighted Stellar’s commitment to financial inclusion and its role in improving access to financial services in underserved markets. Jed McCaleb, the co-founder of Ripple (XRP) and founder of Stellar (XLM), believes that XLM is in a unique position in the blockchain space. He outlined several reasons why he believes Stellar is undervalued and its features are often overlooked. Ripple Co-founder Spotlights Stellar’s Capabilities Talking about Stellar, McCaleb pointed to its high transaction volumes. He noted the network already processes more daily transactions than most blockchains, widely outdoing even Ethereum. “Stellar already does way more transactions per day than all but two networks,” he said. In his opinion, the network has simplified its infrastructure so that such operations don’t impede development. McCaleb highlighted Stellar’s integrated ecosystem, which seems to incorporate key features like the issuance of stablecoins, token creation, and a decentralized exchange, per the CNF report. Such built-in capabilities make processes simpler for businesses and developers. Hence, it is a practical solution in many applications. Thus, McCaleb stressed the versatility of the platform, declaring that it was “simpler and well thought out. Soroban, Stellar’s smart contract platform, is also now in the public eye. McCaleb said it is focused on safety and efficiency, especially the ability to handle common vulnerabilities, such as reentrancy attacks. “Smart contract system that is safer, more performant, and more sustainable,” he said, referencing Stellar’s engineering goals. Transaction fees, often one of the major concerns in the blockchain space, are almost negligible on Stellar, because of the efficient protocol design. McCaleb noted that the low-cost structure benefits personal users and businesses alike. This makes the platform competitive for financial transactions. Engineering quality was the…

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Filed under: News - @ November 26, 2024 3:24 am