Nano Cryptocurrency Pros and Cons

The goal of this post is to promote critical discussion and challenge commonly promoted narratives through rigorous debate.

 

Pros:

  • Near instant (2-3s)
  • Feeless
  • Decentralised, both in design, and in operation
  • Permissionless
  • Environmentally Friendly
  • Scaleable – to possibly 7000tps. (300tps has been seen on mainnet)
  • Simple – a User eXperience that even your granny could understand
  • Working today (not future vapourware)
  • Android, IOS, desktop and browser wallets
  • Securable on Ledger Nano S & Jolt hardware wallets
  • Easy for merchants to integrate into Point of Sale via BrainBlocks and Kite
  • Works even if you’re offline, even with paper wallets
  • Can securely reuse Addresses
  • Not classifiable as a Security
  • On Binance and eight other exchanges
  • p2p exchanges coming – LocalNanos.com due on Aug 21st and PayFair
  • Would cost at least one third of its market cap to breach its security with a 51% attack
  • Awesomely-supportive community has contributed many of the above
  • Can be used as an arbitrage coin once on all exchanges
  • Lack of fees makes it usable globally e.g. in Venezuela where some coins’ fees exceed the local daily wage

 

Cons:

  • No independent security audit yet (one is under way, but not completed and published).
  • Possibly could be DDOS’d by a rented botnet (which wouldn’t break security but might slow the network down. Protection against spam is being developed.).
  • Needs an automated fiat off-ramp to encourage merchant coin acceptance.
  • Unlike BTC clone coins, or ERC20 tokens (which can be trivially added once one similar coin is supported), some exchanges have struggled to implement Nano’s Block Lattice architecture. However, Nanex for example, found no difficulties in implementing Nano.

 

[Source]

 

[cryptothanks]

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