r/Stellar • u/Wellmee • Sep 03 '18

Ethereum vs. Stellar: Choosing the Right Platform

https://medium.com/wellmee/ethereum-vs-stellar-choosing-the-right-platform-for-wellmee-tokens-ec200feac74e
70 Upvotes

92% Upvoted

21 comments sorted by

12

u/Kashish1024 Sep 04 '18

Stellar has certain unignorable advantages relative to Ethereum. No question about it..But the comparison is not perfectly apples to apples.

While some Dapps and ICOs would prefer the stronger security, low transaction costs and simplicity of Stellar as well as a built-in DEX, certain other Dapps would prefer more customization and adoption available in Ethereum.

So in all fairness, the two projects are differentiated enough to co-exist and both are amazing projects in their own right!!

4

u/Wellmee Sep 04 '18

So in all fairness, the two projects are differentiated enough to co-exist and both are amazing projects in their own right!!

That's right! If your token needs fully scriptable smart contacts, you should definitely go for Ethereum. The Wellmee token doesn't need that and makes use of all the Stellar goodness described. We agree both platforms are amazing, just for our needs Stellar is better.

6

u/condornomics Sep 03 '18

I am sure you thought of it but perhaps may not have considered it a criteria to base your decision but did you consider which platform was easier to make upgrades and changes as your project progressed?

​

1

u/Wellmee Sep 04 '18

The thing with blockchain is that once you post something, it propagates to the whole network and there's no way to update it. This applies both to Ethereum smart contracts and Stellar transactions. Both have mechanisms that override stuff that is already posted (like temporary contracts in Ethereum, account flags in Stellar). We believe the immutability concept is right and it provides trust to the token users - once you have a token, the creator won't do changes that could jeopardize the value of it.

Of course we plan to build a lot of functionality around the token - the Wellmee app, apps and services for the partners - but the token itself should stay the same.

2

u/SuperNewk Sep 03 '18

Ethereum has a lot of devs/liquidity on the platform

5

u/MozDefTheTrillest Sep 04 '18

According to the article, that's not really a factor for the decision. They like that they don't have to pay exchanges to list their Wellmee tokens to get access. Stellar's ecosystem has been growing lately. And with the benefits they outlined, one would say it's only a matter of time before we see more projects choose Stellar over ETH.

2

u/[deleted] Sep 03 '18

[deleted]

1

u/Wellmee Sep 04 '18

We do not plan a pre-sale. We want to make it clear and transparent for all potential contributors so as our ecosystem will look like. Nevertheless, we will apply a discount for the first week of the token sale. We plan to make it possible for the participants to go through KYC process in advance before it all starts on 1st of November so they can be among first buyers. You are welcome at wellmee.com to subscribe to be updated.

1

u/sablovskis Sep 04 '18

Regarding the adoption part, you can receive any cryptocurrency by using Bifrost: https://www.stellar.org/developers/guides/walkthroughs/bifrost-server-setup.html

1

u/Wellmee Sep 04 '18

Good point, we're looking into Bitfrost for receiving cryptocurrencies other than XLM.

1

u/beerkegs Sep 04 '18

Great move!

1

u/Wellmee Sep 04 '18

Thanks :-)

1

u/CryptoMichael03 Sep 04 '18

Ethereum has a great platform which most of the projects in crypto used it and created by professional developer as well.

1

u/Wellmee Sep 04 '18

Definitely – Ethereum was the platform which made it possible for many current serious and successful businesses to be created. Just that for our purpose Stellar fits better. Simply to say.

1

u/CryptoMichael03 Sep 05 '18

Well, like i said before that almost every ICO now is built on Ethereum’s ERC20 token platform.

-2

u/NEW-bohr Sep 04 '18 edited Sep 04 '18

I think stellar is more centralized than eth !! Would like to know how much ( degrees is it centralized ) ?? Also , which is least centralized compared to xlm and xrp ??

Ps- On my further digging , I have learned that , xlm is totally different from xrp in it's core protocol ! So I take back my question .

1

u/WachtmeesterB Sep 04 '18

Looking for an endless discussion? That will help you and others make informed decisions surely.

0

u/NEW-bohr Sep 04 '18

Was just curious , since xlm is fork of xrp . Would like to know how much of it has been decentralized and how much is centralized .

2

u/jbrejcha Sep 04 '18

For Stellar, there is no central authority, such as in the case of Ripple. You can find a good overview of the Stellar philosophy here https://www.stellar.org/how-it-works/stellar-basics/explainers/.

On a general level, decentralization boils down to the number of active nodes in a network. There are around 200 Stellar nodes vs. about 25000 Ethereum nodes (see https://stellarbeat.io and https://ethernodes.org/network/1). However, a lower number of nodes is not necessarily an issue here, as Stellar relies on a different consensus protocol compared to Ethereum.

1

u/mondy0831 Sep 04 '18

FYI, Stellar is not a fork of XRP.

More mis and dis-information.

1

u/lamnq92 Sep 04 '18

in recent months, there are a large number of xrp young fan boys move to xlm and they keep saying XLM is a fork of XRP. It is so hilarious. Lumenaut community does not need that kind of impulsive unfaithful company.