Ideological Differences: Though both projects aim to achieve widespread adoption of feeless transactions, IOTA is currently focused on machine to machine (M2M) payments with a view to make the wallet more useable for Peer to Peer (P2P) transactions in the future. In contrast, Nano aims to ‘do one thing and do it well’ and they are focused on only Peer to Peer (P2P) transactions. The projects therefore have overlap but are not in direct competition (at least for now!).
Technical Differences: The projects are similar in that they are both examples of DAG’s (directed acyclic graph’s) however with IOTA two recent ‘tip’ transactions are selected (randomly) and built upon, with transactions being more reliable the ‘deeper’ the transactions are from the tips. In contrast, with Nano each account has it’s own blockchain and the most recent block is selected (not randomly) and balances are adjusted using a Send and Receive block.
[Work In Progress – More to come!]
Click HERE To Learn more about Nano
Click HERE to Learn more about IOTA