• arseneSpeculoos@monero.town
    3·
    12 days ago

    I don’t know much about it except the basics to be fair…
    Could you please tell us how you see it and how it compares to Monero?

    • ElectricdOP
      2·
      12 days ago

      First and the most important point: it’s NOT a privacy coin, sadly. The monero community will probably hate it, but hey, no coin is perfect, and there has to be transparent coins

      Apart from that, it’s interesting because it is ecologically good (no PoW), has quick near-instant (under a second) transactions, and is fee-less (literally, transactions do not cost anything). I’m new to it, so I don’t know much as well, that’s why I wanted to get some of your opinions on it.

      I like the idea behind it. It seems to solve a lot of problems with crypto not being usable in real life. Sadly, it can be tracked easily, but I see a world where it could be used in every day life because of the ultrafast and free transactions

      • arseneSpeculoos@monero.town
        1·
        7 days ago

        Not all coins should be privacy coins, not all flowers should be red. The diversity of the ecosystem is very important.

        It’s good that you are interested in it. Described like this, it seems a bit strange. Who’s paying for the security of the network if there are no fees?
        My first idea when I hear that is, someone is running the blockchain at his own cost, very few people can do this. So that part of the network will be quite centralized.

        If that’s good or bad depends on what dance you want for yourself over there.

        • ElectricdOP
          1·
          7 days ago

          someone is running the blockchain at his own cost

          That’s right. There’s no direct incentive to help the blockchain, unless you hold some coins, and in that case you do have an interest in doing it

          very few people can do this

          I would argue otherwise. This isn’t POW so costs are a lot lower, and people can ask for donations

            • ElectricdOP
              1·
              4 days ago

              I don’t unfortunately. Haven’t really checked out Nano this far.

              Since there’s no POW, the only thing required is running nodes. They have to vote though, so that’s an added load, but I don’t think it is high. Most nodes shouldn’t have to vote by default anyway because they do not have a big % of the voting power

              It seems like there aren’t many public nodes currently