Key persons: Colin LeMahieu
Trading volume (24h): $38,526,306
CoinMarketCap rank: 118
Nano (NANO) facts
- Original name — RaiBlocks.
- Rebranding took place in 2018 to popularise the project.
- The amount of fees set for blockchain use is 0%.
Project objective: To create a massive instant payment system with no commission.
Current trends and future plans.
Designed to make money transfers between individuals efficient, the project is an alternative to Bitcoin or Ether. In order to increase transaction processing speed to 7000 transactions per second, a special blockchain building system called Directed Acyclic Graph (DAG) was chosen. In DAG, blocks are connected via additional links (not only within linear chains, but also between neighbouring chains of blocks), allowing the information to be transferred faster. Network security is ensured by the Delegated Proof-of-stake, where a certain number of tokens collected from smaller holders are used to operate the network validator through a single aggregated node.
The project is being developed through the special organization — the Nano Foundation.
The company is currently focused on developing micro-payments for emerging economies, integrating with Apple Pay and Google Pay through third-party applications (e.g. Kraken exchange), and building local communities of users and developers.