Colin LeMaye, software engineer, CEO and creator of The Nano Foundation based in the United Kingdom, invented and designed the Nano. The project, which started as RaiBlocks in 2014 and renamed Nano in January 2018, first launched under the name RaiBlocks.
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Nano is a peer-to-peer digital currency. It is an open-source decentralized cryptocurrency built on a directed acyclic graph (DAG) architecture and a consensus process known as open representative voting (ORV). It uses a distributed ledger with a block data structure to work without intermediaries.
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Cryptocurrency - Nano
Ticker - NANO
Volume / market capitalization - 0.2465
Market rating - #142
Revolving supply - 133 248 297 XNO
Total offer - 133 248 297 XNO
Max. offer - 133 248 297 XNO
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Nano has a consensus method to ensure that its network of nodes stays in sync and that users do not violate software restrictions. Nano uses a kind of delegated proof of stake, known as open representative voting.
Depending on the balance of their accounts, the nodes in this system are assigned a 'vote weight'. They can then decide to use or transfer their votes to another network node. When a node reaches a certain level of voting power, it is classified as a top representative and can vote on transactions in proportion to the money in its account and those allocated to it.
From a user perspective, Nano is the best cryptocurrency because it requires no fees, fast transactions, and infinite scaling. In this way, you can start increasing your cryptocurrency investments on autopilot, with full transparency and control on a cryptocurrency copy trading platform. Here are some of the main advantages of the Nano cryptocurrency and its price.
Nano is designed to be simple and straightforward to use. By trying to move value as efficiently as possible and by providing alternatives to users and services, the Nano network can easily realize the empowering and cost-effective aspects of digital money.
In modern society, more attention is paid to reducing pollution and energy consumption. To protect their networks, several digital money networks have resorted to inefficient schemes. Instead of relying on power mining for security, Nano intends to use a weightless and efficient consensus mechanism called 'Open Representative Voting' for low power consumption.
Digital money should be fast and easy to use. There is no need to wait long to complete activities such as shopping in a store or making online payments. The work can be facilitated with the help of nano transactions. Because these are online settled payments, businesses no longer have to wait for credit card or banking network confirmation.