The Stellar (XLM) and META 1 Coin projects promise to improve the lives of regular users. Notably, they share some similarities such as the ability to streamline international money transfers. However, a closer examination reveals that these platforms go about this task in two completely different methods. Here’s everything you need to know about Stellar (XLM) vs META 1 Coin.
What is Stellar (XLM)?
Stellar Lumens (XLM) is one of the best-known cryptocurrencies in the market. The platform is best recognized via its logo that features a rocket ship blasting off. Stellar operates as a distributed payments infrastructure. This system was built from the ground up to streamline international money transfers, in particular remittance.
What is META 1 Coin
The META 1 Coin is just one component of the larger METANOMICs universe. This all-inclusive DeFi ecosystem incorporates a variety of features to provide users with everything they need to increase their wealth with minimal risk. The ecosystem includes a self-appreciating stable coin, DEX, high yield savings account, and more.
META 1 is the first network to employ a variety of decentralization tactics to the market. For example, the system requires that you verify that you are a human to hold META 1 coins. Corporations and investment firms are banned from the market. Additionally, governments can’t hold META 1 coins.
This strategy ensures that the network contains fewer whale manipulators. Whales are large token holders. In most instances that are investment firms. These companies are known to pump up prices, only to dump their bags on those entering at the tail end of the scheme. Eliminating these threats helps to provide a more stable environment for the META 1 Coin to thrive.
What Problems was Stellar (XLM) Built to Alleviate?
Stellar was unique in the market because it was one of the first remittance-focused platforms to provide services to regular users rather than banks like Ripple. Remittance payments are vital to the stability of many nation’s economies. In some instances, remittance can be more than 10% of a country’s GDP.
However, since sending money internationally is a cumbersome and expensive task, as much as 7% of the total funds sent can be lost to fees. Stellar’s technical structure enables it to provide affordable, fast, and reliable cross-border transactions in a frictionless manner. In this way, Stellar helps to seamlessly connect individuals, institutions, and payment systems throughout the world.
What Problems was META 1 Coin Built to Alleviate?
The META 1 Coin was built to provide a stable foundation for META users to build their wealth upon. The token is revolutionary in many aspects. For one, it’s a multi-asset-backed token. Rather than just gold bullion, the META 1 Coin derives value from a large mining operation and gold-relate assets. This approach provides it with more protection against large drops in the value of gold.
META 1 enables users to send value globally in seconds. It also enables users to interact with the other features of the METANOMICs universe such as savings accounts and staking pools. When used together, META 1 Coin users gain access to powerful wealth creation tools.
How Does Stellar (XLM) Work?
Stellar operates on a custom-built blockchain that provides high transaction throughput and secure transactions. The system works by first converting your funds into the native utility token XLM. Once converted to XLM, your funds can be sent anywhere on the planet in seconds. When the XLM arrives at its destination, it gets automatically sold for the local currency.
There are many advantages gained using XLM as an intermediary. For example, XLM helps to provide a bridge for currencies that may otherwise have no direct paring. Additionally, since the entire process is handled by smart contracts, no human intervention is required. When compared to the traditional forms of international money transfer, it’s easy to see the advantages Steller brings to the table.
How Does META 1 Coin Work?
The META 1 experience begins with the META blockchain. This specially built network was created to support high-performance trading on the network’s DEX. Users can convert their fiat and crypto into META 1 coins using the DEX. This non-custodial platform serves a vital role in providing liquidity to the network and creating ROI opportunities for users.
Once you obtain META 1 Coins, you have a couple of different ways to secure passive rewards with minimal risk. You could choose to stake your tokens by simply holding them in your wallet. Staking is easier than trading because you choose your rewards based on the number of tokens you stake.
You can also earn rewards leveraging the network’s savings account feature. This high-yield account pays 20x your local bank. Unlike our local branch, there are no gatekeepers. Anyone who holds META 1 coins can use this feature to secure 10% APY with minimal risk.
XLM is the native utility token for the Stellar Lumens network. This token plays a vital role in the transfer process as all currencies are converted to XLM and then converted to the recipient’s currency. XLM is a popular token that can be found in a variety of centralized exchanges including Coinbase Pro and Binance.
The META 1 Coin combines appreciating stable assets with smart contracts to protect value. It’s the first project to introduce a value protection mechanism in the form of smart contract 6. This protocol leverages an off-chain oracle to ensure that all META 1 coins are sold for asset value. The system provides another level of stability to the META 1 coin ecosystem.
Stellar (XLM) vs META 1 Coin – Different Levels to the Same Problem
Stellar seeks to provide users more control over their finances via its unique protocol. The network was a pioneer in crypto remittance and still remains a popular project. The META 1 Coin demonstrates how far the cryptocurrency concept has come. This all-inclusive ecosystem provides similar services to Stellar and much more.