Release date: 07/03/2017
Maximum total supply: 133,248,290 NANO
NANO is the most traded on Binance (NANO/BTC accounted for 77.36%, NANO/ETH accounted for 13.95%) Kucoin exchange (XRB/BTC accounted for 2.69/%) Bit-Z…
NANO price list since listing.
On 03/07/2017 NANO was trading at 0.009104$/1 NANO until 03/01/2018 its price was up to 33.14$/1 NANO.
What is NANO coin?
Nano coin (NANO symbol) is a digital currency, quite similar to Bitcoin, formerly known as RaiBlocks (XRB) The change from RaiBlocks to NaNo took place in January 2018. Nothing else has changed about the fundamentals of the coin, and it still uses the same symbol. (XRB).
How does NANO work?
The block-lattice system (block grid) works like a blockchain, but with many important differences. The first is that each account in the NANO protocol has a separate blockchain called the account-chain. Only the account-chain account holder can change this private chain, and allows the account-chain to update asynchronously with the whole system.
This means that each individual can send and update blocks on his account-chain without depending on the entire network. To do this, each outgoing deposit on NANO requires two transactions: a sender transaction and a receiver transaction. In order for a transaction to be confirmed, the receiver needs to sign a block to confirm receipt of the funds. If only the sender confirms, the transaction will be considered pending and unresolved.
In this system, NANO keeps account records in a ledger, not entire transactions like traditional blockchain ledgers. Instead of having to store all previous transactions, the network only needs to record account balances.
Advantages of the Block-Lattice structure
Improved latency: thanks to account-chain, each account in the chain can update asynchronously with the network. By double transaction mechanism, sender and receiver are required to authenticate the transaction. This removes the need for miners and provides an instant trading experience.
Scalable solution: all NANO transactions are processed separately from the original network. No more fear of block sizes, because nodes don’t need to maintain a record for the entire network.
Energy saving: maintaining a node in a NANO network uses much less energy than networks using proof-of-work consensus protocols.
Decentralization: NANO keeps the network secure using the Delegated Proof of Stake (DPos) consensus protocol. If any conflict arises in the transaction, NANO will decide whether the transaction is valid or not.
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