Basically, the difference is that drum sanders use a cylindrical shaped drum that has a diagonal slot in it. The sandpaper is cut to the correct length and both ends of the sandpaper are inserted into this slot. Then the operator uses wrenches to tighten down bolts attached to cam style shafts. These shafts grip the paper and hold it fast. Sometimes, shims are needed to ensure enough pressure to hold the paper. It's an art in itself learning to tighten paper on a drum sander. Too loose and the sander "chatters" then the paper literally explodes. Too tight and the paper explodes. If done exactly right on a well adjusted machine, the paper and slot loading are not a problem and can produce excellent results. Plus, roll sandpaper is less expensive than sandpaper belts. These machines are typically of an older design and are quite heavy and loud.
Belt sanders for floors started in the mid to late 1970's with the Lagler Hummel. There may have been other, earlier attempts but the first successful belt floor sander was the Hummel from Germany. It was a radical change in design. It uses a cylindrical drum/roller like a drum sander but that drum has no paper loading slot. It has an upper, smaller roller that the continuous sandpaper belt rides on. It is easy to load the belts and very fast. The Hummel sander has a more raked handle making it more ergonomical to operate plus it is considerably lighter, making it easier to transport. You can find proponents and detractors of both styles of sanders. Neither is inherently "better". That being said, a majority of professional floor sander operators today use belt sander over drum sanders. IMO, they are just more user friendly and makes the job easier.
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