Let’s take a look at the potential of IOTA and XNO and find out their benefits.
Comparing the Potential of XNO and IOTA
The cryptocurrency industry is growing constantly, with new projects trying to beat the competition in every way. There are more than 25,000 coins and tokens on the market, most of which have been created in the past 2 years. Investors are always looking for new promising projects that will disrupt the industry.
However, some crypto veterans are still showing good upside potential. Nano and Iota are two projects with 5 years under their belt to solidify their technology. In this article, we compare XNO vs IOTA and analyze their fundamentals.
Additionally, we provide some price predictions from trusted sources. This allows us to see whether these established projects have what it takes to take on the competition.
What Do We Know About XNO?
Nano is a blockchain project that was built with a very simple premise — to provide users with a digital money network accessible to everyone. The main idea behind Nano is to be a lightweight cryptocurrency that allows mainstream users to easily transact over the internet, at absolutely zero costs.
It was created in 2014 under the name RaiBlocks and allowed anyone that solved captchas to get XRBN rewards. The platform was rebranded to Nano in 2018 and changed the token ticker to XNO in 2021.
The main goal of the Nano network is to provide zero-fee digital money transfers. To achieve this, the network uses an ORV consensus, where XNO holders vote for nodes that confirm the transactions.
The representatives that reach a consensus on Nano aren’t incentivized through rewards. This means that there’s no need to pay any fees when transacting on the network, unlike when exchanging BTC to ETH on Ethereum.
Speed and Scalability
The Nano network is highly efficient and doesn’t require miners or any complex computers to process the blocks. This allows NANO to achieve block finality in less than 1 second, and reach a high throughput of 1000 transactions per second.
Since XNO has been around for almost a decade now, it has experienced a few bull and bear markets in its history.
In the latest bull run of 2021, XNO reached a price of $10. That being said, the historical all-time high for the coin was in 2018, when XNO was valued at $37, skyrocketing to that price from $0.008.
So, XNO might not have as much potential as it had in the earlier years, but the upside is still possible. Currently, XNO is trading at $0.69 per coin, a significant retracement from its local $10 high in 2021.
With that said, analysts are still providing some bullish predictions for XNO. Proceprediction.net expects it to reach $2.10 in 2025 and as high as $13.46 by 2030. Digitalcoinprice. com has a similar view, with a price of $2.50 for 2025 and $7.50 for 2030.
What Do We Know About IOTA?
Iota is a scalable, open-source distributed ledger network that uses the Tangle technology to confirm transactions. So, instead of cryptographic blocks, Iota carries out transactions using a system of nodes that confirm the transactions on the chain.
Focus on IoT
As its name would suggest, Iota focuses on the Internet of Things industry and provides a network for IoT devices to communicate and transact. Thanks to its decentralized ledger technology, IoT has access to immutable transactions and trackable data at all times.
Similar to Nano, since there are no miners, there are no fees on Iota. This allows IoT to integrate digital ledger technology free of cost and onboard new projects without friction.
The IOTA cryptocurrency had a similar price track record as NANO. After reaching an all-time high of $5.7 in 2017, it dropped significantly in value. The 2021 bull market managed to push prices as high as $2.3, and the token is currently trading at $0.17.
Priceprediction.net provides a price target of $0.53 for 2025 and $3.42 for 2030.
XNO vs IOTA: What Is a Better Investment?
Nano and Iota provide some decent upside potential considering their low prices at the moment. However, IOTA has more utility than just being a simple payment currency like NANO. It could benefit greatly from the growth of the IoT industry in the future, whereas NANO might not see such adoption.