NANO

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Nano (NANO) is a cryptocurrency made by Colin LeMahied in 2017. It uses Directed Acyclic Graphic (DAG) technology and blockchain to address the main problems that Bitcoin still currently faces.

Started as RaiBlocks in 2017, Nano intends to solve the problems of scalability, high transaction fees, long transaction times and power intensive consensus mechanisms that Bitcoin faces today. Bitcoin can currently handle a small number - 7 transactions per second - with fees constantly rising as the blockchain load increases. Furthermore, the average transaction time for Bitcoin is around 160 minutes, which is much longer than many other blockchain projects.

The DAG that Nano uses is known as the Block Lattice and is a similar technology to that of Tangle from IOTA. The specific DAG that Nano has implemented allows for simultaneous transactions to occur as each different account on the Nano network will have its own private blockchain. This private blockchain provided to the user is updated asynchronously to the rest of the Block Lattice which allows for transactions to occur simultaneously. This results in an improved latency due to the dual-transaction mechanism that requires both senders and receivers to verify a transaction, thus removing the need for miners and completely eliminates transaction fees.

As there are no miners on the Nano network, it is secured by a Delegated-Proof-of-Stake (DPoS) consensus mechanism. This involves elected delegates voting on which transactions to verify if any problems arise within the network. The removal of miners and use of DPoS means that the network will not be subject to mining centralization and is not as power-intensive as the Bitcoin consensus Proof of Work (PoW) mechanism is.


In this tag you can discover Nano (NANO) news, price prediction, opinion and analyses created by users.


A Quick Review Of Nano Project

5 days ago 3 minute read Rumi $2.83 tipped

What іѕ Nano Coin? Thе term “NANO” іtѕelf hаѕ bееn officially re-branded frоm what wаѕ known аѕ “RaiBlocks”. At the beginning оf 2018, the company officials decided tо nаmе their cryptocurrency project (and the currency itself) Nano – this marked а...

Top 5 Potential Moonshots

1 week ago 6 minute read paulOf91 $5.62 tipped

With altcoins struggling it is safe to say that Bitcoin is the only space-bound project that is on a bull run at this moment in time. However, we must never forget that the altcoin industry is still far from defeated as the development teams behind m...

Hey Bankers, how about a feeless interledger protocol? Using NANO

1 week ago 1 minute read PH-X $0.19 tipped

  Okay, the thought experiment. If banks can agree to trusted NANO addresses amongst themselves. They kinda setup a private blockchain on NANO for fiat exchange settlement. Here's how it works. Fact: Settlement between banks are like an IOU. They...

Ivan on Tech invests in Tixl, an innovative crypto currency combining privacy, instant transactions and zero transaction costs!

1 day ago 1 minute read SatoshiStacker $0.01 tipped

Introduction After Ivan studied the progress of the developer's hard work on Tixl, he decided to become one of their angel investors. This is no way means that Tixl will become a success, but knowing Ivan and his experience in blockchain, I want to m...

Nano Payments Faster Than Centralized Systems - New Viral Video Makes Merchants Want To Implement Nano

1 week ago 1 minute read JamesM $4.84 tipped

A Reddit user, nanoissuperior, has posted an interesting video related to the NANO project, showing a contactless point of sale device that lets transfers be made with NANO.  The video shows the users sending 1.90 NANO to the merchant via contactles...

7 Reasons Why NANO is The Best Currency in the World

19 Jul 2019 1 minute read Lucky Jay $1.61 tipped

NANO can make all of these claims which are essential to a truly liberating and efficient means of exchange.  Fast Feeless Green Decentralized Borderless Limited Supply Simple to Use FAST:                         NANO transactions average under 2...

Eco-friendly alternatives to Bitcoin

16 Jul 2019 4 minute read virtugrana $0.44 tipped

Warning: All content in this article is meant to be informational only. I submit the same, based on my opinion and using my words, in addition to quotes from other articles, leaving the due credits at the end. Based on this article, do your own study...

Why am I holding a meme-coin? #ShowYourPortfolio

12 Jul 2019 4 minute read Deiv $0.10 tipped

In order to explain why I am currently holding a (specific) meme-coin, and also why I’m genuinely sure they are they key for a true mass adoption, it’s necessary to give some context first. The first time I heard about cryptocurrencies was during Dec...

This Crypto Project Is Much Faster Than XRP

11 Jul 2019 2 minute read Ra.Tomps $1.44 tipped

When you think about fast cryptocurrencies you would be forgiven if your mind went directly toward the XRP token as the fastest way for sending transactions. Currently, Ripple has advertised that XRP can conduct up to 1500 transactions per second - a...

The Advantages of NANO and ENJIN

11 Jul 2019 1 minute read Lucky Jay $0.10 tipped

The advantages of NANO over Bitcoin and traditional currencies: NANO is fast, feeless, energy efficient, and simple to use. Bitcoin is not. NANO is the first truly useful and efficient global currency in recorded history. Using a free mobile phone ap...

Bets with BANANO — Banano Bet and NanoGames

5 Jul 2019 2 minute read virtugrana $0.13 tipped

Caution: Bet in moderation, this article is not intended to influence you to bet exaggerated, it is only for the purpose of awareness and information regarding the sites to be presented. In case, you think you have a problem with bets, please check t...

NanoGames Fornite Tournament

18 May 2019 1 minute read Noodles $0.06 tipped

We are glad to announce our first Fornite Tourname  in NANOGAMES with some big prizes  on it.The tournament is held on a private server w/ a CUSTOM matchmaking code. You will be given the code via Discord 5min before the tournament starts. The tourna...

Tales of a Cryptocurrency Newbie - Part 3: The Crash of '18

24 Apr 2019 6 minute read CryptozNewb $0.06 tipped

In mid-December of the year two thousand and seventeen, Bitcoin hit an all-time high, reaching a valuation of nearly $20,000 per coin! It dipped heavily afterwards, but seemed to recover over the next couple of weeks. I took the opportunity to divers...