What does the NANO cryptocurrency innovative?
NANO is another name of the RaiBlocks project. It seemed to creators in the course of operation that the first sounds better, than and they announced the second change of a name. NANO sets before itself the purposes which were initially set before itself by Bitcoin, that is NANO plans to become cryptocurrency for daily use, having replaced with itself Fiat.
Now it is known that the design team is occupied with the solution of classical problems which the Bitcoin network faced. It all known:
- problems with scalability which force users to doubt bright future of cryptocurrencies;
- long transactions — the average time of confirmation of one transaction is 164 minutes that, of course, is unacceptable;
- concerns of ecologists of the whole world because of the enormous amount of electricity consumption which is spent “for nothing”. At the moment world mining consumes more, than 82% of all countries for the normal needs.
How does the NANO platform work?
Each accounting entry in an ecosystem of NANO has own circuit of units. In turn, the circuit of accounting entries updated by the owner updates everything a block grid. All this leads to high-speed transaction processing. The interesting feature is that as each user updates the unit every time when gets or sends the transfer, the correct record in a blockchain requires two transactions.
- The departure transaction subtracting the amount.
- The receiving transaction adding the amount.
- The specified transactions shall not happen in at one time, the receiver can accept transaction at any time.
Features of Blockchain
NANO applies in operation of Directed Acyclic Graph (DAG), there the Blockchain is appropriated to each user. This fundamental difference because classical Blockchain monitors all transactions on a network and balances accounting entries of a block grid. The DAG technology does not need the proof-of-stake or proof-of-work protocols because Blockchain of each user reflects information on this accounting entry and is updated by the owner.
Transactions and accounting entry
The verification process is based on comparing of balance before departure with balance at the moment. The new unit by results of this check decreases or increases. It strongly increases processing rate of transactions and does NANO in this regard by attractive cryptocurrency.
Of course, as well as in any other Blockchain after the transaction is confirmed it to cancel or it is impossible to change. Thus, the basic rule of “invariance” of the NANO cryptocurrencies saves. After the transaction was broadcast in a network, money is charged off from one address and waits for confirmation from another.
Important point is, the fact that because of simplicity of transactions for them collection is not raised, and can brag about it not each cryptocurrency.
NANO. Price and capitalization
Today according to the CoinMarketCap resource the cryptocurrency enters the twenty of the crypto assets, most attractive to investment. NANO takes the 18th position with a capitalization of $2.2 billion. Now the coin bargains on a mark of $16.49, and the price reached the maximum on January 2, then one NANO cost $36,8. The token lost in the price almost also significantly, as well as all cryptocurrencies which by February 6, 2018, lost on average in 70% of the prices. Now NANO surely wins former boundaries.
Where to buy NANO?
Rebranding did the project good because practically right after this NANO listing very serious crypto exchanges about which all heard, among them: Kucoin, RightBTC, Binance, OKEx and CoinFalcon.
NANO has several advantages which are difficult for disputing. This project single uses multivariate Blockchain (block grid) which releases the users from even the minimum commissions because there are no miners who expect up-dating of the network book. The technology of a block grid also helps to make transactions fast.
Even these two moments are enough to pay the attention to this cryptocurrency. NANO finds the latest technologies for the operation, and it cannot but bribe.