Cryptocurrency called Nano arose as a result of the rebranding of the RaiBlocks platform with the subsequent renaming of the corporate Internet site, where you can get acquainted with all the subtleties of this system. Ideas of developers of the Nano network are not distinguished by anything original among the other cryptocurrencies created by the type and similarity of Bitcoin. Nano thought of as an alternative digital currency, which due to its effectiveness, can in the near future replace the classic fiat money.
As you know, Bitcoin has a number of weaknesses, especially the low speed of work and the large commission for conducting transactions. Also, the confirmation of the network during the creation of blocks takes a huge amount of energy. Looking at all these inconveniences and difficulties, the developers of Nano promised with a confidence in their voice zero expenses during the operations. In addition, transactions will be carried out in real time (online).
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By analogy with IOTA, Nano uses a targeted acyclic algorithm, called a block lattice. The organization of the network is built on Blockchain technology, but with some differences. In fact, Nano has a chain of user accounts that allows you to update information along with the rest of the network blocks. Thus, account holders will be able to confirm new blocks without the involvement of the entire network. Two transactions are sufficient to complete any operation between two users. The work safety is guaranteed by the protocol of datagrams (protocol data unit UDP).
As a result, data transfer occurs even when the recipient is disconnected from the network. A unique feature of Nano is also the ability to save the history of data and then record the balance in a new block. But this is not done to account for all previous transactions, but to calculate the balances on the current account.
The chain of Nano units significantly increases the speed of work, while ensuring high security and decentralization. Verification of currency transactions is carried out at controversial points, and in other cases this function is delegated by the DPoS algorithm, which has a whole bunch of advantages compared to Bitcoin.
The Nano network uses cryptocurrency with the abbreviation XRB. Trade in these tokens is carried out by all major Internet exchanges. You can store coins either on a special purse or on a computer using the RaiWalletBot purse.
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As practice shows, Nano is able to replace Bitcoin, but this may take some more time. At the moment, this token is actively used as a monetary unit. Nano capitalization has reached a level of one and a half billion dollars, which speaks of the trust of investors from all over the world.
Editor: Yuliya Soroka