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Comparing the trading ecosystems of JAX coin and Stellar Lumens

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Today, cryptocurrencies are considered an essential constituent of the global economic structure. The widely increasing popularity of crypto has attracted several traders and investors to hop on its bandwagon. 

It is considered to be the future of worldwide online trading. Apart from mainstream crypto tokens, like Bitcoin and Ethereum, many other cryptocurrencies have surfaced on the market. They have not only made a massive name for themselves but are expected to perform exceptionally well in the coming years.

These relatively new cryptocurrencies like JAX Coin (JAX) and Stellar Lumens (XLM) ensure more usability and feasibility for their users. They have distinctive features with a more effective blockchain network to support their working mechanism. Here we have jotted down a comparative analysis of the fundamental characteristics among BTC, XLM, and JAX.

  Bitcoin (BTC) Stellar (XLM) JAX 
Launch 2009 2014 Soon
Maximum supply 21 million No upper limit According to demand. 
Transactions per second (maximum) 7 1000 Under test
Network Bitcoin Stellar Jax.Network

Decentralized and secure blockchains

Stellar Lumens is a digital currency that is more focused on helping individual’s mechanisms rather than organizations. Providing a decentralized peer-to-peer framework, XLM has issued more feasibility to its users. 

It also helps people with their cross-border transactions. These transactions are, otherwise, expensive and relatively time-consuming. Lumens is also focused on sorting out problems of retail users by ensuring a more effective transaction gateway.

Lumens act as a bridge between other currencies over transactions. Moreover, it is cheap, costing a mere 0.00001 XLM per transaction. It offers fast transactions, primarily within 3-5 seconds. Lumens also make money more fluid and thus more feasible for use in financial institutions. It provides swap and converts different currency pairs, allowing a more straightforward way of transactions between relatively uncommon cryptocurrencies.

On the other hand,  Jax.Network offers a new and advanced mechanism for the functioning of Decentralized Finance applications. It focuses on solving the issue of scalability by minimizing the involvement of a middleman. 

Jax.Network provides more security and privacy to its users—additionally, the Jax.Network runs on the Proof-of-Work model, one of the secure and decentralized consensus mechanisms for blockchain networks or projects.  

Jax coin – World’s first scalable stablecoin

The team of developers behind Jax.Network were primarily focused on building decentralized blockchain, as they believed such a network was non-existent in the highly competitive crypto market. Therefore, the basic principle of the Jax.Network blockchain was to form a scalable stable coin. In the crypto market, stable coins hold a significant position, as only a handful of people use them. 

Stablecoins offer more price stability in the market. Hence, users can stay safe from the volatility of the crypto market. JAX will always have a stable value with no impact on inflation. It will also offer many transactions per second, which too over minimal charges.

The goal of Jax.Network with its stablecoin is to build a viable payment system that is more suitable for crypto users and businesses. It will help enterprises to easily interchange between fiat currencies and cryptocurrency,  thus, providing a more feasible approach for payment to the users. 

Moreover, JAX can compete with payment giants like Visa and MasterCard, owing to its transaction speed, security, and decentralized property. It can be adopted by a higher percentage of the public sector and can be utilized in several spheres. 

It will make payments easier for people, and as individuals could use it anywhere and at any time, it will be a significant development in the global financial structure. JAX inculcates modern concepts and features in its network. Therefore, it is customized for use in different public and private sectors. 

By being the world’s first scalable and no-peg stablecoin, JAX has genuinely made the best possible use of technological advancements. However, it is yet to be seen how the users perceive it and how it performs in the market.

Conclusion

The drawn comparison of JAX and Stellar Lumens show that while they are highly alike in many features, they also have differences at many points. People can use them both to swap different currency pairs or liquify assets. However, JAX is a stablecoin, so its price will not change at any point in time. However, XLM can vary in value based on the trends of the crypto market. Therefore, JAX edges out XLM to be a comparatively better and realistically more scalable secure projection. It not only provides more security to users but also almost nullifies the risks of encountering any major losses via volatility.

Source: https://www.cryptopolitan.com/comparing-the-trading-ecosystems-of-jax-coin-and-stellar-lumens/

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Bitcoin proponent Max Keiser announces the F*ck Elon Tour

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Bitcoin maximalist Max Keiser has announced the F*ck Elon Tour scheduled to take place on July 8 -9 in Austin, Texas.

Earlier this month, Keiser hit the headlines during the Bitcoin Conference in Miami for several reasons. But chief among them was his antics on stage with MicroStrategy CEO Michael Saylor, in which he repeated the words, “we’re not selling,” and “f*ck Elon.”

This was in reaction to the Elon Musk energy-FUD, which many believe was responsible for Bitcoin’s 45% slump from its all-time high of $65,000.

“F*ck Elon” has now become something of a tagline for Bitcoin maximalism. But with tribalism responsible for toxicity in the cryptocurrency space, is the F*ck Elon Tour doing more harm than good?

What’s the F*ck Elon Tour about?

Despite this week’s bloodbath in the markets, as well as continuing uncertainty at the macroeconomic level, in linking tour information, Keiser confidently stated that Bitcoin can reach a new all-time high in the coming weeks.

The F*ck Elon Tour is introduced as a Bitcoin maximalist event that encourages more maximalism for the simple reason that maximalism is what “got us here.”

“We don’t need less toxicity from Bitcoin maximalists. We need MOAR!!! A LOT MOAR!!!! Toxicity and plebs got us here.”

Rather than a discussion of developments and educational content, the Tour is pitched as a party event featuring special guests. But more importantly, for Bitcoiners only with no mention of altcoins allowed, and most of all no Karens.

Ticket prices range from $50, for “Plebs” tier, to $200, for “JIMI” tier. The cheapest tiers, “Plebs,” “Buzzcocks,” and “Casbah” are already sold out.

Bitcoin maximalism accused of cultism

Keiser has always maintained a maximalist approach towards Bitcoin. But his stunts during the Bitcoin Conference have drawn fire on several fronts.

One such incident was an interview with CNBC Africa in which he launched into a tirade on political corruption. Although there is truth in what he said, it was his outburst and overzealous reaction to the questioning that drew condemnation.

“Do you know that with the Bitcoin I have I can buy any frickin senator or congressman I want? I make the laws. He who has the Bitcoin makes the laws Ran. We’re not just going to sit around and let the God damn government tell us what to do…”

However, the f*ck Elon rant is perhaps the most controversial. Social media responses to the video include comments about presenting a poor image, parallels with the cultism of Bitconnect, cringe, and so on.

There’s no doubt that Keiser is a passionate believer in Bitcoin, which shows through during his public engagements.

But at the same time, his showmanship is rubbing people the wrong way, which in turn does little to convince the undecided on the merits of the leading cryptocurrency.

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Source: https://cryptoslate.com/bitcoin-proponent-max-keiser-sets-up-the-fck-elon-tour/

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Billionaire Mark Cuban Says Bitcoin Is ‘Better Than Gold’

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Billionaire investor and entrepreneur Mark Cuban has revealed on social media he believes bitcoin is better than gold as the flagship cryptocurrency is easier to trade, transfer, and convert. Both bitcoin and gold are seen by many as inflation hedges, with some calling bitcoin “gold 2.0.”

In a tweet, Cuban said that bitcoin requires no intermediaries and can be factionalized. He also referenced “William Devane type commercials” that would sell the cryptocurrency as a hedge against inflation.

Devane, who starred in the popular soap opera Knots Landing, has for the past decade been promoting the precious metal for Rosland Capital, telling potential customers that gold is the only currency he trusts.

When TD Ameritrade’s Oliver Renick replied that bitcoin’s “relationship with real interest rates is as random as it was day 1 ten years ago,” implying the cryptocurrency does not work as an inflation hedge, Cuban said he never defended it as such.

Cuban added:

Gold is useless, pretty much across the board, but particularly as a hedge. BTC is a digital asset that is similar to gold because they both are driven exclusively by supply and demand. BTC does a better job with both.

The billionaire investor noted that right now there is more demand for the precious metal than for the flagship cryptocurrency, although he believes this will change as “BTC is easier to transact,” and will in time be “better understood and marketed.”

The gold market, Cuban predicted, will shrink as a result. Cuban, as CryptoGlobe reported, invested last month in Ethereum layer-two scaling solution Polygon (MATIC) but has not disclosed the size of his position on the cryptocurrency. The investment has been disclosed on one of his websites.

Earlier this year, billionaire  investor Jeffrey Gundlach, CEO of DoubleLine Capital, revealed that while he is still a long-term dollar bear and gold bull, and that he sees bitcoin as a better bet after turning neutral on both the U.S. dollar and gold.

DISCLAIMER
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT
Featured image via Unsplash

Source: https://www.cryptoglobe.com/latest/2021/06/billionaire-mark-cuban-defends-bitcoin-is-better-than-gold/

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I’m Putting My Billion In Bitcoin, Billionaire Ricardo Salinas

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Billionaire Ricardo Salinas talked with the director of Blockchain Land about his investment in Bitcoin. Salinas has said that he has 10 percent of his assets in bitcoin. Salinas is a staunch believer in bitcoin. One of the high-profile advocates of the coin with the bitcoin hashtag on his Twitter profile.

He has always been an advocate for bitcoin. He posted on his Twitter profile that paper is worthless. And the best thing to put your money in is Bitcoin. The third richest man in Mexico has revealed that he is not afraid to put his money in bitcoin.

Bitcoin Is As Solid An Investment As Gold

Ricardo Salinas still believes strongly in bitcoin despite the recent price crash.

Enumerating the benefits of bitcoin, the billionaire compares it to gold. Saying that bitcoin with all its benefits qualifies it as a modern form of gold.

Related Reading | Senator Cynthia Lummis: I’m All In On Bitcoin

He made the argument that bitcoin is easy to carry. It enjoys extreme liquidity internationally. And most of all, bitcoin supply is limited. The limited supply of the coin is why Salinas has so much faith in the coin.

Bitcoin supply is hard-capped at 21 million. No one can create more bitcoins. This means that it cannot be manipulated by the government for their gain. The coin supply can also not be manipulated by any developer.

This imposed scarcity means that bitcoin is not subject to inflation. Which is a major concern for the billionaire.

Bitcoin chart

Bitcoin back in the green | Source: BTCUSD on TradingView.com

Salinas continued on to talk about inflation. He mentioned that when he first started working in 1981, a dollar was 20 pesos. Now 40 years later, a dollar is worth 20,000 pesos. Bitcoin’s limited supply is a way to avoid this. If you cannot make new coins, you cannot devalue them.

How About Altcoins?

While Ricardo Salinas is very bullish on bitcoin, he is not so much on altcoins. He attributes his reluctance with altcoins to their inflationary models. He gave Ethereum as an example.

Ethereum has an unlimited supply. This means, unlike bitcoin, an endless number of coins can be produced. Governments can create new coins when they want. An endless supply means that the value depreciates over time instead of appreciating. Due to the fact that there are so many coins in circulation.

Salinas stated that he does not believe that altcoins have the potential to outpace bitcoin. Bitcoin is a finite asset which makes it more valuable.

Related Reading | Is It Too Late To Buy Bitcoin?

Although he does have faith in some altcoins because they provide privacy.

A finite resource does not depreciate. Instead, due to its scarcity, it becomes even more valuable. This is because the number of people that want it increases, while the supply available remains the same. Hence there is a higher demand for it than there is supply.

Ricardo Salinas believes that every investor should have a part of their portfolio in bitcoin.

Featured image from Smart Liquidity Network, chart from TradingView.com

Source: https://bitcoinist.com/im-putting-my-billion-in-bitcoin-billionaire-ricardo-salinas/?utm_source=rss&utm_medium=rss&utm_campaign=im-putting-my-billion-in-bitcoin-billionaire-ricardo-salinas

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