MY HOMEWORK 1 FOR @alphafx COMPARISON BETWEEN ETHEREUM NETWORK AND STELLAR NETWORK
ETHEREUM BLOCKCHAIN
The Ethereum blockchain is a decentralized blockchain that was built around blocks of different nodes that are used to stored and process all kind of transactions on the Ethereum blockchain. the Ethereum blockchain is an open-source programing platform which allows the programmers and developers to build and published their applications on the Ethereum platforms. The Ethereum blockchain platform is users friendly for programming and it has a kind of program known as the smart contracts. The blockchain has virtual machine known as EVM(Ethereum Virtual Machine) allows smart contract to thrive in the blockchain ecosystem. Traditionally Ether is the currency used on the Ethereum blockchain and it is basically used for; digital currency exchange, to run application in the Ethereum blockchain and to monetize work. It is one of the most fastests blockchain in the cryptocurrencies world.
STELLAR BLOCKCHAIN
Stellar is a decentralized and a open-source blockchain used for payment and designed to follows some kind of rules(protocols). financial based apps, mobile wallet apps and transaction systems are built on the stellar blockchain. Stellar can be used for cross-border transactions and they are specifically designed to perform financial operations that out of bank institutions or banking services such as remittance of taxes, giving out bank loans etc. stellar accepts several mode of exchanges and this has positioned her amongst the best performing Altcoin on coinmarketcap. Stellar never charges for using it is network and it is very fast system.
Traditionally Lumen is the local currency used on the stellar blockchain and it is not mineable. The Lumen Is denoted by XLM and it is basically used for digital or virtual currency exchange and for making cross-border payments or transactions. The Stellar Development Foundation are responsible for the distribution of the XLM token.
SIMILARITIES BETWEEN ETHEREUM BLOCKCHAIN AND STELLAR BLOCKCHAN
They are both good performing Altcoins.
Both are used for cross-borders transactions.
Both are open-source blockchains.
Both are used to perform seamless transactions.
Both are used for payments.
Both are Smart Contract Compatibility.
Both have a very good system.
This is my homework Professor @Alphafx
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