We have two rising stars in the cryptocurrency field. Cardano (ADA) and Stellar (XLM) are now both in the top 10 largets cryptocurrencies by market cap. Let’s take a look at both and do a quick comparison.
What is Cardano Blockchain?
Cardano is now the fifth largest crypto by market cap. It is a third generation cryptocurrency and the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach.
Cardano blockchain development team consists of a large global collective of expert engineers and researchers.
Cardano’s Multiple Layers
Unlike Bitcoin, Cardano has two layers.
The first one is the Cardano Settlement Layer(CSL). CSL works as a more efficient bitcoin, handling the balance ledger and basic transaction side of things.
The second layer is the Cardano Computation Layer. This is where decentralized apps and smart contracts built on Cardano will be based and can operate separately on the CSL layer.
These multiple layers mean that you can make changes to the platform without a fork.
Cardano’s Token, ADA Price Action
Cardano’s token, Ada, reached new highs above $1.20 this week. The reason for the surge could be the anticipation of the next major update for the platform being due for release next week.
What is the Stellar Blockchain?
Stellar aims to be a one-stop shop in the financial world, where with just one integration into the Stellar Network, everyone including, payment networks, banks and market participants have equal economic access economic. Stellar operates a network with the blockchain technology behind bitcoin. But unlike Bitcoin, Stellar’s transactions settle in 2 to 5 seconds and allow users to quickly exchange government-backed currencies, such as turning U.S. dollars into euros.
What Are Stellar Lumens XLM?
Stellar coins are officially called lumens or XLM for short when traded in the crypto exchanges.
Lumens are technically the native asset of the Stellar network.
Native means that lumens are built into the network. Asset is how the network refers to an item of value that is stored on the ledger.
Stellar Lumens (XLM) Price Action
The native asset of Stellar, Lumens (XLM) reached for new highs at the end of 2017 and by Wednesday was up 65%. However, on Thursday it pulled back towards the 23% Fibonacci retracement level. It started Friday with a Doji candlestick pattern.
The young token remains above the Ichimoku cloud.