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Add to SafariWhen comparing IOTA vs NANO, the Slant community recommends NANO for most people. In the question“What are the best cryptocurrencies?” NANO is ranked 2nd while IOTA is ranked 10th. The most important reason people chose NANO is:
Due to NANO's structure it requires 0 fees.
Question Ranking
Pros
Pro Anonymity - Coming Soon
Anonymous Transactions and messaging is on the roadmap!
Pro Fully Decentralized
Pro Feeless
Due to NANO's structure it requires 0 fees.
Pro Instant transactions
Instantaneous transactions. The fastest cryptocurrency in activity now.
Pro Does not require mining
Does not require mining
Pro Decentralized
NANO is provably decentralized.
Pro Best cryptocurrency for daily use
With instant, feeless and decentralized transactions, Nano is the most ethical and the best cryptocurrency for daily use.
Pro Deflationary
Forever limited number of Nanos .
Pro Very secure
In theory, in order to send a transaction you just need to notify the receiving wallet, making it fully P2P (Peer-to-Peer).
Pro Embeddable
Nano is easy to integrate with other platforms.
Pro Green
Nano is hypereefficient. The entire network could run on the output of a single wind turbine
Pro Great community
Pro Fairly distributed
Pro Inclusive, classless
Pro Great for developers
Nano is very easy to develop with. There also exist many libraries for a wide variety of programming languages.
Pro Easy to use
Easy to use. What bitcoin was meant to be.
Pro Easy adoption to every day business
Pro Not traceable because of speed
Nano is so fast that can't be tracked by anyone.
Pro SoV
It has 0 supply emission
Cons
Con Centralized
IOTA is currently partially centralized due to its "coordinator" which is expected to be soon removed.
Con Unproven consensus mechanism
The new consensus mechanism is unproven against attack. Mana can be rented.
Con Not as Secure
It is arguably not as secure as other cryptocurrencies like NANO.
Con Traceable transactions
Not anonymous, but there is discussion to change this.
Con Lower/slow adoption
Perfect for peer to peer but lot of work to do to get business on board.
Con Strongly opposed by Bitcoin maximalists because it threatens Bitcoins existence
As an example, the censoring by moderators of the biggest cryptocurrency forum on Reddit /r/cryptocurrency.
Con Prone to hoarding
Many people might want to hold nano longer term as demand grows and supply is limited. However fortunately there are no direct financial rewards for holding nano as opposed to proof of stake currencies.
Con Lesser known compared to other alternatives - it doesn't have much presence outside of the crypto space
The Nano Foundation doesn't have a massive marketing budget. Nano does only one thing, and that one thing directly competes with Bitcoin. In the short term it's going to be very difficult for Nano.
