Nano cryptocurrency, formerly known as RaiBlocks, is based on a redesigned blockchain platform and is designed solely for fast settlement transactions. The developers tried to create a highly focused project that allows transactions to be carried out with maximum speed and security. The main feature of the project was the use of a lattice block chain network, where each user has his own block system, which allows updating data and performing operations independently of the actions of other participants.
Project creation and development
- Existing technologies could not provide instant execution of transactions, because it took time to generate each block in the network. This feature significantly limits the use of decentralized projects in settlement systems.
- When any blockchain project is running, a commission is charged from the end user for the execution of each transaction. As a result, the final cost of performing the operation increases by a base value. Due to this feature, it becomes impossible to attract investors and new clients, most of them will give preference to the already existing fiat transfers.
Features and uniqueness of the Nano cryptocurrency
The virtual currency Nano is seriously different from other cryptocurrency systems, due to the use of a lattice block chain. In simple terms, when an operation is performed between active users, its own block chain scheme is built, which makes it possible not to involve other parts of the network to perform the required action, and the main system only checks the availability and correctness of the execution. The DAC algorithm is responsible for connecting all individual operations into a single network. It allows you to instantly perform transactions on the network, only if all the necessary conditions are met, which ensures the reliability and confidentiality of a decentralized system.
- Speed. It is achieved by executing the transaction exclusively between the sender and the receiver, which minimizes the execution time. And performing the operation separately from the whole network leads to the minimum size of the received block. For example, let’s take the Visa payment system , the maximum transaction speed is about 1700 per second, and the Nano indicator is about 7000.
- No commission. Unlike Bitcoin, where a commission is charged from each miner and when performing any transaction, the Nano platform does not charge itself a percentage. In addition, in case of heavy load, scalability is available to increase bandwidth.
- The operating conditions of the platform are minimal and do not require serious power.
Where to store and how to get Nano tokens?
It should be noted right away that coins cannot be mined by mining. The only way is to buy or exchange currencies on exchanges or exchangers.
In addition to the famous Binance , other resources are available for trading, including:
- and other exchanges and exchangers.
- Online version
- Version for phones / tablets under OS Android or iOS control
- Version for P.K. running OS Windows, MacOs, Linux
Course and project capitalization
Expert opinion and development forecasts
Modern trends and the possibility of introducing cryptocurrency systems as a payment instrument make it possible to assume about the formation of the growth of currencies, rather than about a further fall. After sharp ups and downs, the virtual funds market has become more predictable and stable. Now it’s up to investors and users who will choose the projects they really need, one of them may just be the Nano project, which will allow instant money transfer operations.
Virtual currency market analyst Dmitry Mints shared his opinion that any cryptocurrency is tied to the Bitcoin price today. However, he did not rule out the possibility that some company or even a country could try to introduce a modern decentralized payment system as an experiment, and the Nano project is one of the leaders of such technologies. Then Nano tokens will take a special place on crypto exchanges, and the rate will skyrocket.
In general, despite the behaviour of the cryptocurrency market and the problems with their implementation in the legal code of states, Nano is of interest as a payment system of the future and in cases of its introduction into large business it will show significant growth.