Add to Chrome
Add to Edge
Add to Firefox
Add to Opera
Add to Brave
Add to SafariWhen comparing Ripple vs NANO, the Slant community recommends NANO for most people. In the question“What are the best cryptocurrencies?” NANO is ranked 2nd while Ripple is ranked 3rd. The most important reason people chose NANO is:
Due to NANO's structure it requires 0 fees.
Question Ranking
Pros
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
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 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.
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.
