NANO
Nano

$2.44
+8.51%
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Rank
27
  • Market Cap
    $324,986,904
  • 24h Vol (Global)
    ฿2,409 ($15,447,325)
  • Circulating Supply
    133,248,289
  • Issue Price
    $0.020000
  • Issue Date
    2015-10-04
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  • The Latest Rating
Coin Bureau
3.0

Nano: Trying to make transactions free and instant

2018-09-07
NANO (previously Raiblocks) is a cryptocurrency project that is trying to develop technology that will allow for instant and free transactions. This is possible through the use of technology such as Directed Acyclic Graphs (DAGs) and their unique block-lattice architecture. This dispenses of the need for a public ledger or blockchain. Block lattice gives each address its own blockchain. This individual blockchain per address means that transactions are able to confirm almost instantaneously. There is also no need to pay for the transactions as miners are not needed in order to propagate the blocks. Nano uses a Delegated Proof of Stake (dPoS) consensus algorithm and a Proof-of-work. dPoS allows for users to elect their representative nodes which can vote on their behalf. These representative nodes complete tasks such as verifying block signatures as well as voting for valid transactions. Proof-of-work in the Nano ecosystem is not used as an agreement protocol but as an anti spam measure. Nano was originally started as Raiblocks (XRB) by Colin LeMahieu in 2014 and he has continued to work on the technology with other team members. The name of the coin was changed in early 2018 to Nano. NANO is quite volatile compared to other sized altcoins and they have a relatively low volume to market cap ratio.
TokenInsight
2.5

Nano | Rating: B | Outlook: Stable | Risk: Medium

2018-09-01
Nano is a payment token that was launched at the end of 2017. Its main characteristics are feeless and fast transaction speed. It utilizes DAG structure for transaction recording, and validates the network by system representatives. The technology is innovative, but stability has not yet been tested.
  • Details
Max SupplyCirculating SupplyIssue DateIssue PriceConsensus ProtocolExplorer
133,248,290133,248,2892015-10-04$0.020000DPOS1
www.nanode.co
Total SupplyCryptographic AlgorithmSource CodeWhite PaperWebsiteType
133,248,289Blake2bhttps://github.com/nanocurrenchttps://nano.orgCOIN

Launched in 2015 by Colin LeMahieu as RaiBlocks, Nano is a low-latency payment platform that requires minimal resources; making Nano ideal for peer-to-peer transactions. INSTANT TRANSACTIONS Nano transactions happen immediately, so it's a currency you can use every day for purchases large or small. ZERO FEES Pay for the purchase, not the privilege – zero fees on whatever you buy, from bus ticket to business class flight. INFINITY SCALABLE Nano can process over 1000x more transactions per second than Bitcoin, so you'll never get stuck in a queue. EACH ACCOUNT HAS THEIR OWN BLOCKCHAIN With Nano, each account has their own blockchain as part of a larger directed acyclic graph. Each individual user provides the computational power for the verification of their own transactions, meaning entire network is not required to update the overall ledger together in massive blocks. WALLETS PRE-CACHE THE ANTI-SPAM PROOF-OF-WORK Wallets pre-cache the anti-spam Proof of Work for the next transaction once a transaction is sent, making transactions instantaneous, as both sides have the proof of work ready to go. RUNNING A NODE COSTS NEXT TO NOTHING Because the protocol is incredibly lightweight and running a node costs next to nothing, Nano’s transactions are processed with no fees. One transaction fits within a single UDP packet, and transactions are handled independently, eliminating any block size issue.