Date of introduction: Launched in 2015 & re-branded in 2018 (previously known as RaiBlocks (XRB))
Rank on Coinmarketcap: 37
Current price: $2,71
All Time High: $34,43
Current Circulating Supply: 133,248,289 NANO
Total Maximum Supply: 133,248,290 NANO
Type of token: ERC-20
Coin-specific Wallet: Yes
Official Website: https://nano.org/en
What is NANO
Nano aims to be the first peer-to-peer payment system with:
- Instant transaction
- No fees
- No inflation
One of the main differences from conventional cryptocurrencies, and what makes Nano unique, is the fact that instead of having one large blockchain / ledger that records every transaction ever from everyone, each wallet has his own personal blockchain. This way every time a transaction is made, a new block is added to the sender and receiver’s personal blockchain instead of having to go through the complete ledger. This not only saves time, but electricity too.
Since only the sender and receiver are involved in the transaction, there is no need to wait for a third party to send your transaction through (miners), resulting in an instant and completely free transaction.
A summary provided by the developers:
‘’Unlike conventional blockchains used in many other cryptocurrencies, Nano uses a block-lattice structure. Each account has its own blockchain (account-chain), equivalent to the account’s transaction/balance history. Each account-chain can only be updated by the account’s owner; this allows each account-chain to be updated immediately and asynchronously to the rest of the block-lattice, resulting in quick transactions. Since blocks can only be added by each account-chain’s owner, transferring funds from one account to another requires two transactions: a send transaction deducting the amount from the sender’s balance and a receive transaction adding the amount to the receiving account’s balance.’’ – Nano.org
Creator and Lead Developer
A software developer for the last 10 years, Colin founded RaiBlocks, now Nano, in 2014. He moved to the project full time in 2017 and is spearheading development of the core protocol. His interests include space technology, physics, and environmental sustainability.
Experience coding in the crypto space since 2013, Experience coding with C++ for much longer. Worked on various other cryptocurrency projects. Will be helping with the Core wallet development and protocol.
Mica is a Control System developer for Residential and Enterprise markets by trade, self-taught programmer and deeply curious tinkerer at heart. He has been involved in cryptocurrency since 2011. Mica is responsible for our web infrastructure and development as well as creating our Android lite wallet.
Nano has a team of a total of 12 people working full time on the projects.
Exchanges offering Nano
- Binance (highest volume)
No known partnerships. However, Nano would benefit more from mass-adoption than partnership.
The mission of Nano is stated as follows: ‘’Nano’s mission is to become a global currency with instantaneous transactions and zero fees over a secure, decentralized network.’’
In the Nano roadmap various subjects are discussed and how to tackle them such as: Experience, Adoption, Wallets and Protocol.
- Instant transactions
- Zero transaction fees
- Infinitely scalable
- Has a coin specific wallet
- Nano is not mined, meaning it is a ‘’coin’’ rather than a ‘’token’’
- Nano is relatively new, so it has yet to prove itself
- Nano rebranded itself after an exchange was hacked in which 150 million USD worth of Nano was stolen, damaging the reputation and community of the coin
Nano explained (video)