According to U.Today, Jed McCaleb, co-founder of Ripple Labs and creator of Stellar, recently shared his views on why he considers Stellar (XLM) to be one of the most underrated cryptocurrencies. McCaleb emphasized that Stellar processes more daily transactions than most other blockchains, handling ten times the volume of Ethereum. He noted that Stellar is actively used in real-world transactions, distinguishing it from many other blockchain projects.
McCaleb also highlighted Stellar's simplicity and well-thought-out design, which includes built-in features such as stablecoin and token issuance, as well as a decentralized exchange. He discussed Stellar’s on-chain governance system and the company's smart contract platform, Soroban, which is designed to be safer and more efficient by avoiding common vulnerabilities like reentrancy issues. Additionally, McCaleb pointed out Stellar's low transaction fees, describing them as "basically free."
He praised Stellar's engineering, calling it world-class, and highlighted the network's developer-friendly documentation, which he considers among the best in the industry. This documentation facilitates developers in building applications on the network, promoting further adoption and innovation. McCaleb stressed that Stellar aims to revolutionize digital payments by providing financial services to communities without access to banks and enabling businesses to transfer assets more easily and cheaply than through traditional banking systems.
The post comes at a time when cryptocurrencies associated with McCaleb, such as XRP and XLM, are showing strong market performance. XLM has experienced a significant price surge of nearly 500%, reaching $0.65, a high not seen since May 2021. This surge is attributed to various factors, including the resignation of Gary Gensler as SEC chair, which has positively impacted the market sentiment around these cryptocurrencies. The regulatory challenges faced by XRP due to the SEC v. Ripple case had suppressed its price for years, but recent developments have led to a 170% increase since the beginning of the year.
