There are many different cryptocurrencies in the cryptocurrency universe. However, when you’re comparing those, 2 names which you will come across often is iota as well as nano. Both of these are upcoming cryptocurrencies. There are a few similarities but quite a few differences in both of these cryptocurrencies. We will today compare them.
Transaction speed of these cryptocurrencies:
When you compare the transaction conclusion speed of iota and nano, you will realize that nano is faster. When it comes to the transaction verification process of nano, you will realize that it only takes into account the balances which are pending. As a result, the processing is much faster.
When you look into the focus of nano as well as iota, you will realize that iota is particularly for the Internet of things. As a result, it is trying to create an ecosystem with the help of which, there can be various devices which are connected to its blockchain. On the other hand, when you’re looking at nano, it is basically a cryptocurrency. It is trying to establish itself as a payment option. As a result, it is focusing on the transaction ecosystem. Also, nano is highly scalable as the transaction verification times are on the lower side. As a result, both of them are doing really well in their respective areas.
Moreover, the Internet of things is expanding at a rapid pace. There are developers which are trying to connect each and every device to the Internet. As a result, iota has got huge potential. Internet of things is just beginning to expand. As a result, the potential for iota is pretty huge. It is not just a cryptocurrency but it is trying to connect various devices into an ecosystem. As a result, iota is much more advanced as well. Currently, the developers are trying to get their act together and use the blockchain in order to connect the various devices. With the help of blockchain, security will be enhanced significantly as well.
Conclusion: IOTA (MIOTA) vs. Nano (NANO)
When you’re comparing iota with nano, you will realize that iota is much more complex and much more versatile. Nano is just a cryptocurrency. On the other hand, iota is trying to create an ecosystem with the help of which, various devices can be easily connected. If the various devices are easily connected, it will indeed become easier for the users to actually use the Internet of things and connect the devices in the ecosystem as well.