The widespread adoption of blockchain technology continues to gain momentum as stories like Microstrategy using Bitcoin (BTC) to pay out bonuses for the board of directors and Topps announcing plans to release non-collectable trading cards for tokens hit the headlines almost daily.
As more businesses and organizations investigate what blockchain technology integration can do for them, tokens that provide enterprise solutions and easy ways for those interested to explore and use distributed ledger technology saw triple digit growth in 2021.
Stellar (XLM), XRP, and XinFin Network (XDC) are three enterprise-grade cryptocurrencies whose prices have outperformed in recent weeks as global companies increasingly turn to blockchain to build a simplified and efficient global trading network.
XRP / USDT
XRP is perhaps one of the most famous crypto projects behind Bitcoin and Ethereum as there is a large group of supporters, often referred to as the XRP Army because they are ready to defend the somewhat controversial project.
While XRP’s growth initially slowed in 2021 due to regulation by the US Securities and Exchange Commission that led to the delisting of XRP on several cryptocurrency exchanges, its price rose in April.
XRP’s trading volume and social activity increased significantly in early April as the platform focused its marketing efforts on promoting how Ripplenet can help create a “more financially inclusive and sustainable future.”
The realignment also included the acquisition of a 40% stake in the cross-border payment specialist Tranglo on April 5 and on announcement Aim of partnership with Mercury FX on April 9th. The aim of these partnerships is to help develop an international payment system across Africa. This coincided with the last big price spike for XRP.
XLM / USDT
Stellar is an open network that was originally founded in 2014 as the result of a hard fork from the Ripple Labs protocol as the vision of where the project is going is different.
Over the years, its mission has grown from trying to increase inclusion by reaching out to the world’s non-banks to helping financial firms connect with one another using blockchain technology.
Some of the biggest news for XLM came with the release of Horizon 2.0 in early March:
Good news … we just released Horizon 2.0!
This major version has been in the works for years. This allows users to deploy Horizon with fewer resources, more relaxed conditions, and far more flexibility than ever before!
Read more: //t.co/YdopATxMkx pic.twitter.com/M3IVkPSPNJ
– Stellar (@StellarOrg) March 1, 2021
According to the announcement, Horizon 2.0 created a new way of running Stellar’s network infrastructure that “allows large businesses and small developers to deploy Horizon with fewer resources, in a more relaxed manner, and with far more flexibility than ever before.”
The team also announced partnerships with Velo protocol Assisting in promoting international payments in Southeast Asia and using the Cowrie Integrated Systems to develop payment corridors across Africa with an initial focus on Nigeria.
On April 6, the Stellar Development Foundation (SDF) validation nodes temporarily suspended the validation of transactions on the Stellar network, which worried community members. According to SDF, the network stayed online during this time as most of the nodes on the network were still functioning and processing transactions.
After an initial drop in XLM price due to the offline shutdown of SDF nodes, reaffirmation of the security and decentralization of the Stellar network resulted in a quick recovery and breakout to $ 0.656, its highest level since January 2018.
XDC / USD
A lesser-known enterprise-ready solution launched in 2021 is XinFin Network (XDC), a hybrid blockchain technology company optimized for international trade and finance that “combines the power of public and private blockchains with interoperable smart contracts.”
The XDC protocol uses the XDPoS (XinFin Delegated Proof of Stake) consensus mechanism which is designed to create a blockchain network with high scalability, security, eligibility, and commercial quality.
The year 2021 started sluggishly for XDC due to a hack of the AlphaEX exchange in December 2020, in which 300 million XDC (XDCE) based on Ethereum were stolen and sold on the open market.
A number of steps have been taken to mitigate the effects of this hack. This included the burning of 500 million XDCE and the decision to finally let the XDCE contract expire and focus exclusively on the XDC token.
According to the hack’s community solution, the XDC price skyrocketed to a new all-time high of $ 0.076 on April 10, thanks to protocol upgrades such as the ability to send tokens while offline and a XinFin to Corda bridge This allows XDC to move freely between the Corda Network and XinFin.
XDC also benefited from listing on several exchanges, including Liquid Global and Probit, as well as the introduction of a regulated index for XinFin digital assets by regulated index provider Vinter.
@ vinterco starts regulated index for @XinFin_Official digital asset – $ XDC – so that asset managers can deliver regulated ETFs @atulkhekade @riteshkakkad https://t.co/LeeQGAvBE1 #EBR #IOSCO #European #Regulation
– André Casterman (@AndreCasterman) March 17, 2021
As blockchain technology continues to integrate into multiple sectors and companies explore what DLT has to offer, enterprise-level solutions like XRP, XLM and XDC are well positioned to achieve further growth as they offer simple solutions that people can use to create and cryptocurrencies process with minimal effort.
The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading step is associated with risks. You should do your own research when making a decision.