Key to Nano's design is that each account has its own blockchain. When transactions are made, Nano users exchange NANO cryptocurrency and update their own ledgers. Updated balances are then distributed and recorded on the main Nano blockchain.
Stellar runs on a network of decentralized servers with a distributed ledger that are updated every 2 to 5 seconds among all nodes Stellar uses the Federated Byzantine Agreement (FBA) algorithm, which enables faster processing of transactions, meaning a portion of the network to approve and validate a transaction. Each node in the Stellar network chooses another set of “trustworthy” nodes. Once a transaction is approved by all nodes within this set, then it is considered approved.
That's a just a quick overview of the underlying consensus model.
Nano does one thing well, and that is fast transfers of a single native token.
Stellar does so much more.
Stellar is a platform, allowing for creation of digital assets on its network, native decentralized orderbook and provides the ability to send limited data within each transaction.
Welcome to the subreddit, Stellar is the future.
I've been a huge fan of Nano for about 2 years, but just finished selling the last of my bags last week. Much of it went to Stellar.
So for the most part both coins are similar in technicals.
Nano: 1-2 second transactions, feeless, about 1,000 TPS.
Stellar: 3-5 second transactions, fees are 1/5,000th of a cent (officially .00001 XLM), about 1,000 TPS.
That's about where the similarities stop. As others have said, Nano is a currency coin, making it like Bitcoin. Whereas XLM is a facilitator, making it like Ethereum. XLM is used to pay transaction fees on the network and is also required to be held in the wallet in order to make transactions.
You can create tokens on Stellar just like how you can make tokens on Ethereum.
Stellar has several things that just sets itself apart from Nano in a significant way.
First of all there's the protocol upgrades. They have implemented the following to the Stellar Network.
Fee Bumps: Meaning one account can pay the tx fees of another account.
Sponsored Reserves: Meaning one account can cover the account minimum for another account.
Asset Authorization: Meaning the creator of an asset can regulate who can and cannot hold that asset.
Claimable Balances: Meaning someone can send an account an asset and then have the account be set up later.
SEP-30: Allows one account to manage the keys in a trustless way for other accounts.
So as you can see with these upgrades they're really really targeting real world adoption. At the moment a bank can convert all of their client's accounts to Stellar and not one end user would know. That's a good thing. They're also tackling offline transactions and private transactions next.
They also have crazy good connections. The CEO has presented to the US House Financial Services Committee, and last week at Meridian they had speakers from the IMF, World Bank, World Economic Forum and the US Congress.
Plus USDC is coming to Stellar in January and Stellar already has institutions using Stellar for remittances.
And the Stellar Development Foundation is a non-profit, as opposed to Ripple that is for-profit. Also Stellar is decentralized, as opposed to Ripple that is centralized.
Overall XLM is everything I wanted Nano to be and then some. And that's why I practically sold all of my Nano for XLM. It's leaps and bounds ahead of the game. Yet is so underappreciated.
https://www.reddit.com/r/Stellar/comments/k0f3ho/stellar_vs_nano/
Seriously though:
Key to Nano's design is that each account has its own blockchain. When transactions are made, Nano users exchange NANO cryptocurrency and update their own ledgers. Updated balances are then distributed and recorded on the main Nano blockchain.
Stellar runs on a network of decentralized servers with a distributed ledger that are updated every 2 to 5 seconds among all nodes Stellar uses the Federated Byzantine Agreement (FBA) algorithm, which enables faster processing of transactions, meaning a portion of the network to approve and validate a transaction. Each node in the Stellar network chooses another set of “trustworthy” nodes. Once a transaction is approved by all nodes within this set, then it is considered approved.
That's a just a quick overview of the underlying consensus model.
Stellar does so much more.
Welcome to the subreddit, Stellar is the future.
I've been a huge fan of Nano for about 2 years, but just finished selling the last of my bags last week. Much of it went to Stellar.
So for the most part both coins are similar in technicals.
Nano: 1-2 second transactions, feeless, about 1,000 TPS.
Stellar: 3-5 second transactions, fees are 1/5,000th of a cent (officially .00001 XLM), about 1,000 TPS.
That's about where the similarities stop. As others have said, Nano is a currency coin, making it like Bitcoin. Whereas XLM is a facilitator, making it like Ethereum. XLM is used to pay transaction fees on the network and is also required to be held in the wallet in order to make transactions.
You can create tokens on Stellar just like how you can make tokens on Ethereum.
Stellar has several things that just sets itself apart from Nano in a significant way.
First of all there's the protocol upgrades. They have implemented the following to the Stellar Network.
Fee Bumps: Meaning one account can pay the tx fees of another account.
Sponsored Reserves: Meaning one account can cover the account minimum for another account.
Asset Authorization: Meaning the creator of an asset can regulate who can and cannot hold that asset.
Claimable Balances: Meaning someone can send an account an asset and then have the account be set up later.
SEP-30: Allows one account to manage the keys in a trustless way for other accounts.
So as you can see with these upgrades they're really really targeting real world adoption. At the moment a bank can convert all of their client's accounts to Stellar and not one end user would know. That's a good thing. They're also tackling offline transactions and private transactions next.
They also have crazy good connections. The CEO has presented to the US House Financial Services Committee, and last week at Meridian they had speakers from the IMF, World Bank, World Economic Forum and the US Congress.
Plus USDC is coming to Stellar in January and Stellar already has institutions using Stellar for remittances.
And the Stellar Development Foundation is a non-profit, as opposed to Ripple that is for-profit. Also Stellar is decentralized, as opposed to Ripple that is centralized.
Overall XLM is everything I wanted Nano to be and then some. And that's why I practically sold all of my Nano for XLM. It's leaps and bounds ahead of the game. Yet is so underappreciated.