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Nano (XNO) is a cryptocurrency made by Colin LeMahied in 2017. It uses Directed Acyclic Graph (or 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 (XNO) news, price prediction, opinion and analyses created by users.
22 Apr 2021 1 minute read 0 comments NasRaf
I have recently started using several apps and services that gives out different crypto currencies for completing tasks such as watching adds, completing surveys, playing games or even walking. I will give my review of the apps I'm currently using on...
19 Apr 2021 4 minute read 1 comment SenatusSPQR
In this article I describe Nano’s latest innovation — a prioritization method which leads to a feeless, yet spam-resistant network. If you’d like the full background, I highly recommend the original proposal: Rob’s (Reddit user u/ — orb) brilliant Ti...
14 Apr 2021 2 minute read 0 comments 0xJonnyDee
Despite being at an ATH, Zilliqa (ZIL) has shown considerable weakness. While LaunchZone listed the liquidity mining pair of ZIL/BNB on April 13, this has not had any effect on the price so far. Digibyte (DGB) has broken out from a horizontal res...
8 Apr 2021 3 minute read 1 comment ampersandninja
Originally launched a few years back in 2014 as RaiBlocks, the vision that drives Nano is a digital cash that offers feeless near instant transactions. Although Bitcoin was the first digital currency, its transaction times and fees are not currently...
23 Mar 2021 8 minute read 8 comments PopPopPrego
This post introduces The Basics of a pretty cool cryptocurrency, but also looks at the recent beatdown that is still rippling out from the Spam attack. In other words, this is an intro-level post at the beginning with a bit more of a deep dive at the...
12 Mar 2021 1 minute read 4 comments _-_
For the past couple days, NANO has been under attack! A traditional spam attack has flooded the network, causing outages nad delays in confirmations as multiple nodes struggle to keep pace ... The developers solution? To limit bandwidthThis does s...
10 Mar 2021 3 minute read 2 comments TheBananonaut
One could say that Cryptocurrency was made for online gaming - its quite literally a match made in heaven! Over at nanogames.io, players are winning big and engaging with an awesome community playing the game Crash. While advertised as a Nano/Banano...
9 Mar 2021 2 minute read 4 comments ArteDeMatar
Nano is today what Bitcoin intended and what it was created for. Bitcoin is now used more as a value store and not as a currency. While nano seems to be the decentralized currency of the future. With Bitcoin the average transaction takes between 1 an...
8 Mar 2021 1 minute read 5 comments SenatusSPQR
A short write-up on the spam attack on the Nano network that was happening the past few days. First, the statistics. In the past 24 hours, (07/03/2021 08:30:00 CET to 08/03/2021 08:30:00 CET) 4.6 million transactions were done on the Nano network. Th...
5 Mar 2021 3 minute read 2 comments Gosslinq
I've only been investigating and investing in crypto since March 2020 and I must say there is an overwhelming amount of information, apps, exchanges and conflicting opinions out there. It seems to me there's a distinct divide between the people argui...
