CCN Coin of the Week: Nano
The Future of Feeless Payments
Nano (NANO) was created in 2015 by Colin LeMahieu to be the worlds fastest cryptocurrency. First known as Raiblocks (XRB), it was designed to be the perfect trading pair token by allowing transactions to take place instantaneously and with ZERO fees!
If that were not already amazing enough, Nano also boast its ability to handle large volumes of transactions at one time. Nano is considered an infinitely scalable coin that currently can handle upwards of 1000 transactions a second, which is much more than both Bitcoin and Ethereum can handle put together.
What Makes Nano Different?
Nano is among one of the only coins that can offer traders instant transactions with zero fees. This makes an ideal coin for traders to use as a currency pair for them to save money on fees and mitigate risk in the change of spread that happens during the processing of a transaction.
They are able to keep the cost of sending tokens down by using a system of verifying transaction that is NOT MINING. The protocol Nano uses is called the Nano Block Lattice System. It works by allowing each node to run a copy of the full blockchain and by verifying each transaction independently trough each users transaction chain.
Because of the low computational power required to run the Nano blockchain and to verify blocks on the network, Nano is able to run a feeless system which makes it an ideal token for micropayments.
Finally a coin that will allow users to purchase a pack of gum at the store without having the fees cost more than the actual product itself. This make it an ideal coin for sending to friends, splitting the cost of a dinner, trading between currencies, and many other use cases.
Future of Nano
The future of Nano looks good! Nano reached an all time high of $32 in 2018. With the current price right over $9 there is still much room to grow. Check out Wallet Investor’s price prediction.
Where to Buy Nano?
My personal favorite place to buy crypto is the Uphold exchange. Uphold does not charge high transaction fees but instead charge a spread fee with a normal range of 1.8 percent or lower. This makes Uphold one of the most economical ways to buy NANO.
I highly encourage you to use my link to create an account. Its easy to do and really goes a long way in helping my channel grow and produce more great educational content.
I hope your as excited as I am for this feeless coin. As always thanks for reading!
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- Josef S Loffler