If one wants to send fungible token “really, really fast” the better option is Stellar (XLM) than Ethereum (ETH), according to Virgin Griffith, the research scientist at Ethereum since October 2016.
Stellar Organization took to Twitter to share this piece stated by Griffith during the Ethereum Foundation EDCON Press Conference 2019.
“I actually advised someone a few months ago to actually go Stellar instead of Ethereum. […] If you only want to send tokens around, just fungible tokens […] really, really fast, you probably don’t really need us,”
said Virgil Griffith of Ethereum.
The response has been in relation with the ongoing trend in the market that is seeing projects jumping from Ethereum to other blockchains as Griffith said Ethereum would be overkill for a task that involves just sending tokens.
You can watch the video here.
XLM Up Only About 5% YTD
At the time of writing, the ninth largest cryptocurrency by market cap of $2.2 billion has been trading at just above $0.116 with 24-hours loss of 0.73 percent, as per Coinmarketcap data.
In tandem with Bitcoin and other cryptocurrencies, in mid-December XLM went down to $0.09 from the November high of $0.281. However, unlike, Bitcoin it wasn’t Stellar’s yearly low in February as it further dropped own $0.07 level while the majority of the cryptocurrencies, especially top digital assets have been either neutral, surging or down by a slight margin but not revisiting December low and breaking even below it like Stellar.
Till date in this year, Stellar has seen an increase of merely 4.90 percent in comparison to its fellow digital assets like Cardano which is up 95%, Tron 39%, Monero 52% or EOS by 114%.
Though XLM is not up by much, it is at least in the green, unlike XRP which is down by more than 5 percent YTD.
XLM/USD chart, Source: TradingView
However, since late February, XLM has been constantly on a rise just like the rest of the market going to the high of $0.138 on April 11th after Bitcoin surged more than 21 percent in an hour.