Nano is a popular digital currency that is designed with an aim to offer quick, zero fees, scalable, and secure transactions. Originally, it was referred to as RaiBlocks and combined acyclic graph technology and blockchain together to assign every block to its individual blockchain.
With its promising concept, the platform has gained a lot of traction over time. In this article, we will be telling you all about the Nano coin so that you can make a well-informed investment decision.
What is Nano?
In the year 2018, the name RaiBlocks was officially rebranded into Nano. This, according to the developers of the platform, marked the beginning of a new journey.
Nano is a cryptocurrency coin, and a blockchain project is quite straightforward. In simple terms, this cryptocurrency envisions replacing fiat currencies and introducing cryptocurrencies into the mainstream market.
This blockchain platform envisions to use an amalgamation of Proof-of-Work, and Proof-of-Stake algorithms, and this mix is reckoned as delegated Proof of Stake. Leveraging a unique block-lattice structure, this platform claims to offer following benefits over the other payment currencies –
- Zero fees transaction
- Infinite scalability
- Real-time transaction
This approach makes Nano an effective solution to facilitate peer-to-peer transactions as well as micropayments. The developing team of this crypto coin aims to make it a global currency.
Nano — A Brief History
Nano was rolled out in the year 2015 and was originally known as RaiBlocks. It was founded by Colin LaMahieu, but a couple of years later, the team decided to rebrand. This is because people had a hard time resonating with the initial name.
And, rebranding the platform with a new name proved to be highly beneficial to the team. Post the name change; the platform witnessed a vast increase in its transactions.
This is also why Nano coin is referred to as XRB coin instead of something more similar to Nano. Ever since the platform was launched, the team only had one vision in mind — to make peer-to-peer transactions of cryptocurrency faster, efficient, and scalable.
The Block Lattice Tech
Block-lattice technology is the core component of the Nano blockchain project. This technology enables the platform to process transactions without any fees and at infinite scalability. Scalability is an issue that a majority of cryptocurrency is trying to address.
High Bitcoin fees, along with slow transaction times, are the main reasons why Bitcoin was removed as a payment option from many online platforms. The challenges associated with speed and fees are what hinder the massive adoption of cryptocurrency.
Owing to its block-lattice technology, Nano has efficiently addressed these prominent issues. Each account in the platform has its separate blockchain, and an account chain can only be updated by its owner. This implies that each account can be individually updated and in real-time, making the transactions faster and easier.
For transactions to be verified in other cryptocurrencies, all the miners need to confirm the same. However, Nano only needs two transactions for verification that includes send and receive transaction.
To know everything about the cryptocurrency news nano, it is advised to follow a news site that can provide you with authentic news 24*7 regarding the Nano platform, Nano coin info, Nano crypto price.
About Nano Coin — Where to Buy Nano?
The first of buying Nano crypto coins is to find a reliable exchange. Finding a well-reputed exchange platform and associating it with it will allow you to get the best exchange rate out there. When it comes to finding the best exchange platforms, following are some of the leading options out there –
Buying Nano from ChangeNOW
ChangeNOW is one of the leading exchanges out there that deals with hundreds of cryptocurrencies. It has a very straightforward and efficient interface that allows users to easily navigate their way around the platform.
Additionally, there is no need for registration, so you can execute the exchange anonymously. All you have to do is enter your exchange currencies, and the system will do the rest. It will calculate the best possible rates, exchange, and store the new coins in your wallet. For instance, you can do nano to BTC exchange and rewarding benefits.
What is the Best Nano Wallet?
Before you earn Nano coin, make sure you have secure storage options. A wallet will allow you to collect your Nano coins safely and offer you to perform trading all in one place. There are many crypto wallets are out there, and below we are highlighting a few:
1. Nano Wallet (Web and Mobile)
This wallet is launched by the Nano Wallet Company and is compatible with Windows, Mac, and Linux operating systems. Nano Wallet Company and Nano foundation are two different entities. It is intuitive and easy to use the wallet. You can start by downloading and installing the wallet in your mobile or web and then using recovery seed to backup the wallet. Make sure that you keep the backup seed secure as it is the aspect that separates you or any third party from the password.
The company has also rolled out a mobile version, which is compatible with Android and iOS, making it easy to use the wallet on the go. The mobile wallet is free to install and comes with a lot of user-friendly features.
2. Natrium Wallet
Natrium wallet is another popular wallet that you can use to store your coins. It is a mobile wallet for both Android and iOS users and is developed by Appdito. It is an easy-to-use and highly secure wallet. Along with protecting your wallet with a pin, you can take the security level a notch higher with biometric information. The wallet offers a “contact” section where you can put the address details of the members you trade with on a frequent basis. And, you can easily receive payment by sharing your personal QR code. It is an open-source wallet with a clean and well-structured interface.
3. Ledger Hardware Wallet
Coincidently, the name of Ledger hardware is also Nano. However, other than the fact that you can store Nano coins in its Nano S and Nano X, they both have nothing else in common. Ledger is among the most popular hardware wallet technology out there. It is known for its secure approach of storing cryptocurrencies and includes features like dual button authentication and a 2-factor authentication system. Along with Nano, it also supports over 1,000 cryptocurrencies, adding to its versatility. If your purpose is just to store Nano, Ledger Nano S would be sufficient; however, if you are looking for advanced features from your wallet, then you can go for Nano X. It comes with better storage and Bluetooth connectivity.
4. Canoe Wallet
This is one of the sought-after wallets by the Nano foundation and is compatible with both mobile and desktop devices. It is an open-source, as well as, cross-platform Nano wallet, which gives you total control over the coins. According to the price of nano coins, you can our forward your investment. Additionally, the wallet also offers your instant and zero-fee transactions. The wallet has received over 4.5 ratings on both the App Store and Play Store.
5. Exodus Wallet
The Exodus wallet is one of the reliable third-party wallets available on the market. It is free to download and allows you to store multiple currencies. In fact, this wallet allows you to securely store more than 100 coins. Moreover, it supports Mac, iOS, Android, and Windows devices. The wallet comes with a simple yet engaging interface. It lets you to comfortably switch between multiple currencies and monitor your overall portfolio. Additionally, the Exodus wallet also comes with an integrated exchange feature that allows you to store and exchange various currencies from a single location. It also has exceptional customer support that makes users’ overall experience even better.
What are the Applications of Nano?
Nano blockchain projects offer an array of applications including –
Considering that it has a no-fee transaction structure, Nano crypto mining proves to be an ideal solution for small payments.
- Peer-to-Peer Payments
Whether you are splitting bills or paying the rents, this digital currency enables you to quickly transfer funds to the other party.
- Transactions between Businesses and Customers
Nano holds the potential to offer seamless and quick checkout for customers and faster fund access to businesses. And the elimination of transaction fees would benefit both parties.
- Crypto for Trading
With zero-free and real-time transactions, Nano can prove to be highly useful for trading cryptocurrencies.
Nano holds the capability of offering effective solutions to the scalability as well as latency issues faced by Bitcoin. Moreover, it can also considerably reduce the consumption of energy that is associated with the mining of proof of work.
If Nano functioned efficiently and managed to stand on what it claims on the paper, then we might see the adoption of cryptocurrency by masses in the coming years. Visit the Nano coin website to get more information regarding this amazing crypto platform.
To learn more about Nano price prediction, please visit the following Nano post in our blog.