“Nano seems to have all the necessary ingredients to make the economy revolution, as its new architecture, similar to IOTA, has the capacity to scale to mass adoption level. Aiming to do just one thing well, they just might have achieved that, as they have an instant and free way of sending currency worldwide…”

Statistics

Coin Name: Nano
Token: NANO
Birth of project:
Project Status: Active
Circulating Supply: 133,248,289 NANO
Validation: Proof-of-steak

Official Links

Official website: http://nano.org/en
Official Wallet: https://nano.org/en/wallet/
Explorer: https://nano.org/en/explore/
Other: https://github.com/nanocurrency

Introduction to Nano (NANO)

Nano is a digital currency, pretty much like Bitcoin, and serves that purpose only. Before January 2018 it was called Raiblocks, but apparently pronunciation and marketing issues lead to the rebranding. Nano’s team is composed by 5 developers, and 5 community managers, which we can find on the site’s FAQ.

The main advantage Nano has over Bitcoin is the transaction time; if the average block transaction time for Bitcoin is 10 minutes, and if many blocks have to be mined for a BTC transaction to happen, with Nano each single transaction is a block that the network has the capacity to process instantly.

Nano’s speed is also related with their security protocol, PoS, which means minimum energy consumption and cheaper hardware, an existing issue with Bitcoin, not to mention the increasing centralization of mining, which can ultimately endanger the integrity of BTC.

Nano seems to have all the necessary ingredients to make the economy revolution, as its new architecture, similar to IOTA, has the capacity to scale to mass adoption level. Aiming to do just one thing well, they just might have achieved that, as they have an instant and free way of sending currency worldwide.

Regulation, World Banks, and other major players won’t allow privacy coins to become mainstream due to lack of transparency, so the overall scenario Nano in a privileged position. The success of any currency depends, though, on the adoption from users and merchants, and development has been made on this direction.

BrainBlocks.io is an example of a tool to integrate in e-commerce platforms, where USD, EUR, GBP or other currencies are automatically converted into Nano, no signup or passwords involved. For the business owners that are not developers, there are already plugins like for the Woocommerce platform, which can be added to any e-commerce platform.

All it takes is to add the Nano address and that’s it, Brainblocks for Woocommerce is ready to use. There are similar projects being built, namely ArrowPay.io (that communicates with nanowallet.io), and Getxrb.com (that allows the creation of Nano invoices), proving the infrastructure is being built.

Nano seems to have all it takes to become the spending money of the internet, but user adoption has the final word. At the same time, the recent Nano hack was a hard blow on the project credibility, so only time will prove if Nano has the capacity to bounce back.

This is a brief introduction to Nano, but if you want to know more about the coin, what people are saying about it, technical details, jump right in any of the links we present below. They are well worth reading before investing!

2 Comments

  1. jaymish

    I understand why the changed it from raiblocks,This not a good name for a coin. Nano sounds better to me and I’m sure it will sound just as good to the public. If it has cheaper hardware doesn’t this mean that it is vulnerable to attacks. As you said the attacks set it back, may this be the reason. No one wants to have a cryptocurrency where you can wake up one morning hacked. I’m afraid this gets a thumbs down from me.

    Reply
    • avsf

      Nano hack messed it all up, I don’t know if they will ever recover from the blow, as they have lost the confidence the community and the authorities had in them.

      Reply

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