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Add to SafariWhen comparing IOTA vs Ripple, the Slant community recommends Ripple for most people. In the question“What are the best cryptocurrencies?” Ripple is ranked 3rd while IOTA is ranked 10th. The most important reason people chose Ripple is:
In addition to their own cryptocurrency, XRP, Ripple's network can transfer other cryptocurrencies such as Bitcoin, fiat currencies, gold, IOUs, frequent flyer miles and so on.
Question Ranking
Pros
Pro Anonymity - Coming Soon
Anonymous Transactions and messaging is on the roadmap!
Pro Fully Decentralized
Pro Currency agnostic
In addition to their own cryptocurrency, XRP, Ripple's network can transfer other cryptocurrencies such as Bitcoin, fiat currencies, gold, IOUs, frequent flyer miles and so on.
Pro Real-time international money transfers
Transactions are confirmed in seconds, not minutes.
Pro No mining required
XRP's cap of 100B units has already been generated.
Pro More transparent than banks
Not as good as BTC or literally any decentralized coin/token. But, you gotta hand it to them.
Pro Scalable
Can handle thousands of transactions per second.
Pro Fast
3 to 5 latency.
Pro Huge partnerships
MoneyGram, Bank of America, American Express, Central Banks, etc
Pro Allows issuing debt via IOUs
Pro Can pay directly to Bitcoin users
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 Not Decentralized
It is very centralized, worst than even most banks.
Con The network is proprietary
Con Iffy marketing strategy
Con Concerns of it being a scam
Con 3 people own 20% of all of XRP
Con Traceable
Not anonymous, transactions can easily be tracked.
