this post was submitted on 19 Jun 2023
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https://www.rst.software/blog/xmpp-vs-matrix-vs-mqtt-which-instant-messaging-protocol-is-best-for-your-chat-application
TL;DR: Matrix is good for text AND binary data (XMPP is text only) but XMPP is a bit more centralized than matrix, though both work based on federation principles. XMPP is more lightweight but supports more config options.
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