Buy NANO (XNO)

What is Nano?

Nano is a decentralised, peer-to-peer cryptocurrency system designed for fast and feeless transactions. It utilises a unique block-lattice data structure and Open Representative Voting (ORV) consensus mechanism, making it energy-efficient and scalable. Initially launched as RaiBlocks in 2015, it was rebranded to Nano in 2018 to better reflect its emphasis on simplicity and utility in facilitating quick, low-cost payments.

How does Nano work?

Nano operates using a block-lattice architecture, where each account has its own blockchain, termed an "account-chain". This allows for parallel transactions and rapid block confirmations. The network employs an Open Representative Voting (ORV) consensus mechanism, where users vote for representatives to validate transactions. This system is highly energy-efficient compared to traditional Proof of Work (PoW) models, making Nano an environmentally friendly option. A small amount of PoW is used as a spam-prevention measure when a transaction is made.

What are the potential use cases for Nano?

Nano's fast and feeless transactions make it suitable for various applications including:

• Microtransactions: Ideal for small payments and tipping, given the absence of transaction fees.
• Remittances: Facilitates quick, cost-effective transfers across borders.
• E-commerce: Supports fast merchant payments without processing delays or costs.
• Peer-to-peer payments: Allows smooth and immediate transfers between individuals.

Additionally, Nano is integrated with several platforms for purchasing goods and services, from buying airline tickets to vehicle purchases, enhancing its practicality in everyday financial transactions.

What is the history of Nano?

Nano, originally named RaiBlocks, was created by Colin LeMahieu in 2015, with initial coin distribution happening through a Captcha-based faucet. In 2018, RaiBlocks was rebranded to Nano to better align with its mission of being a fast and feeless digital currency. The ticker symbol was updated from XRB to XNO in 2021. Significant events in its timeline include the BitGrail hack in 2018, which led to serious discussions about network security and resynchronization, and its ongoing technological evolution, marked by enhancements in its block-lattice structure and consensus mechanisms. Nano continues to build partnerships and integrations, increasing its adoption and utility in real-world scenarios.