Before I begin, MAJOR Shoutout to all of my followers, you make me feel super awesome. And to TronWallet.me, they shouted out my previous article on their amazing token, TWX:
I about shit myself. Total Nerdgasm at this revelation. Now with that out of the way, Let's begin.
Every so often, whether it be on this fine platform or merely perusing the Interwebs, I come across an interesting project. One that... lends itself quite well to my style of writing. This time, it's not only an interesting project, but an interesting project that is itself a Fork another interesting project - Nano. Now, when it comes to this little Crypto, I had little idea what it was about. So, before I delve into the BANANO Realm for my readers, I wanna do a quick recap on Nano.
Nano, The Banano Daddy
The motivation for Nano is pretty easy to understand. First, the devs for Nano wanted to create a cryptocurrency that is based on a PoW model similar to bitcoin, but at the same time they wanted to avoid the pitfalls of energy consumption and limited scalability. On top of this, they wanted to make this technology minimalistic, as to easily be integrated into many different types of applications and use cases.
The largest thing that people enjoy about Nano is their philosophy on fees being really, really small or nonexistent. It is something that a lot of cryptos such as Stellar are very much interested in. It's a large ecosystem, and their idea is to bring simplicity in using digital currency to all - similar to Electroneum.
These are ambitious goals in a competitive world of being the Go-To for fee-less transactions, and frankly they do a respectable job. I mean, take a look at their stats:
Interesting. Clean, cool, sharp edges. Lots of room for growth. Press kits. Professional Feelings. Like going to a LinkedIn convention. If CyberDyne Systems wore Black Turtlenecks. I love it.
But don't take my word for it. Read their WHITEPAPER and peruse their site. And then, after this...
BANANO, The Slightly More Laid Back Realm of The Nano Ecosystem
Imagine for a moment that Nano is the well accomplished older brother. He goes to college, comes home on the weekends to mow his parent's lawn. His girlfriend is in a sorority, and he is looking to become an attorney. In fact, he is studying for the LSAT as we speak.
Now Nano has a younger brother. He just recently got is GED, and he is enjoying life living with his parents. He's no slouch, but he sure as hell doesn't mind smoking a little Ganja. He wore a tie like, once at Grandma BitConnect's Funeral. Meet BANANO:
That's.. Pepe. No, this is not a joke, or maybe it kinda is. This is the first page of their whi..Yellowpaper. This all started as a piss-take between friends that turned into the DogeCoin of Nano. And their divergent ideas are... actually kinda interesting.
There's no "mining" in the traditional sense, apparently. Howver, They have a ton of ways for us folks to get our hands on some of that sweet potassium. For example, they have a monkey matching game that runs rounds similar to airdrops. I participated in that, and found it was a really fun digression from my daily life. And surprisingly difficult.
And here's the fun part that has some heart; You can help cure cancer and get BANANO in return. Yes, they have partnered with Folding@Home, a distributed computing project dedicated to running molecular simulations for medical research. You simply download a program and let it use your idle CPU power. and BOOM, finish a task block, and you get some BANANO, run entirely on MayMays.
Oh, did I mention they have their own wallet? it is actually very nice and simple, and it has multiple backgrounds and color schemes to suit your taste. Like Nano, they definitely pride themselves on their super fast transactions and... their randomized little monkey thingie, custom generated for each Banano address. And for you nerds out there, know what the name is? KALIUM.
(For the rest of us, that's an antiquated term for Potassium. Catchy, right?)
What Do I Think?
Despite the Reddit opinions, my opinion is that BANANO is no shitcoin. Sure, it's fun and even a little bit surreal in a space that is taken seriously oftentimes, but I think they could do some good. I have folded and played their Monkey Airdrop game. Their payments are quick, precisely when they say they're coming, and most of all... FUN.
But what about their financials?
They got a ways to go, but I'm not perturbed. They're using similar technology as Nano, and they're still relatively new. Just like many of the other "sub-cent" coins in this space, I think it has potential in the long run as an investment, and as a tool to introduce people to the Crypto Space.
How? Think of it this way, BANANO could be an eventual inflection point for mass adoption. Ever tried explaining blockchain to your friends or family? Remember how exactly five seconds into your explanation, their eyes glazed over and they lost interest? Well, what if you were to show them something like BANANO instead? "Hey Grandma it's Magical Internet Money and you can play some silly games in order to get some!"
If you wanna get the grandmas and the 9-5 folks into this space, sometimes you gotta make it interesting. A little joking goes a long way.
HAVING SAID THAT, The joking makes it a double edged sword. Sure, you could appeal to the masses, but maybe the bigger players would scoff at you for your... sophmoric sense of humor. That can be a downfall. However, unlike your traditional meme coins, they decided to leverage their zany premise to make a difference. You can literally support scientific medical research while collecting Banano.
And here's the super kicker: Say they increased in value by a large margin. NOW you have people trying to find the absolute best ways to make the best personal rigs to essentially do medical research. If that is not the most profound use of incentivizing, I don't know what is. That makes them stand apart.
So worry not, readers. If you wanna collect Banano just for the heck of it to see what happens, go right ahead! It can't hurt. It could only make things better. But that's just my opinion and definitely not financial advice. Hell, I'm writing this in my pajamas. Remember folks, DUE DILIGENCE.
Until next time... Watch dem' markets and dem' maymays.