Nano is referred to as a light-weighted crypto that facilitates secure and instant payments with practically ‘zero’ fees. The project originated as Raiblocks with its native token XRB which was distributed as a reward after completing a captcha challenge. Further, in 2018 RaiBlocks was rebranded to Nano with enhanced speed and as a peer-to-peer platform that uses lattice data structure to enable easy transfer of value.
Unlike the other chain which uses Proof-of-Work or Proof-of-Stake, Nano uses Open Representative Voting (ORV), where-in account holders vote for their representatives who will be validating the blocks and confirm the transactions securely. Further, in 2021, the chain adopted the standards of the international organization for Standardization (ISO) requirements and adopted a new ticker symbol for the token, XNO.
| Launch Date | 4 October 2015 |
| Founder | Collin LeMahieu |
| Blockchain Protocol | Nano Blockchain |
| Native Token | XNO |
| Market Cap | $102.37 million |
| Token Type | Native Token |
| Circulating Supply | 133.24 million XNO |
| Max Supply | 133.24 million XNO |
| Consensus Method | Open Representative Voting(ORV)l |
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Who Are the Founders of Nano?
Nano was founded by an experienced software developer and engineer Collin LeMahieu who previously worked for prominent tech companies like Dell, AMD and Qualcomm, etc. He is a well-known, prominent figure in the crypto space with a huge interest in space technology, physics, environmental sustainability, etc. Apart from LeMahieu, a huge team work behind the smooth functioning of Nani includes George Coxon who is the present Director of the foundation.
Nano was originally released through a public offering where-in the users completed the captcha challenge and earned XRB tokens. The crypto project is empowered by its native token XNO which was rebranded from XRB in November 2021. Nearly 126,248,297 XNO tokens, were distributed through online faucets earlier. Meanwhile, 207 million XNO was removed from circulation.
How Does Nano Work?
Unlike the other traditional protocols that rely upon PoW or PoS, Nano is based on an Open Representative Voting system and block-lattice data structure.
Under this system, the holders, based on their balances are allocated ‘voting weight’ where-in they can choose to use their votes to another node on the network. In other words, the holders vote for their representatives who may further act as validators who confirm blocks and validate transactions on the network.
Besides, the block-lattice data structure allows the network to split the ledger into smaller chains. Interestingly, each user’s account has its own blockchain which is updated immediately with every transaction. This eliminates the requirement for the user to wait for the network to synchronize. Hence making the technology fast and instant.
Along with these, the Nano also allows payment integrations that have access to the command line and running node. Using these, users can create their own payment solutions.
What Makes Nano Unique-Uses Cases?
Nano is designed to produce instant transactions, in fact, most of the transactions reach absolute finality in less than a second. This speed makes Nano more reliable for commercial payments. Besides, the transactions are completely feeless as the validators do not receive any compensations to keep the blockchain secure. Hence, making it more efficient for small payments too.
Above all the Nano-structure is built on top of a ledger technology called a directed acyclic graph (DAG) which is highly reliable. This technology can carry out nearly 1000 transactions per second (TPS) without the requirement of an intensive mining network.
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Nano Price Analysis
Source: Tradingview
- The XNO price witnessed a massive spike after trading within a deep descending trend since the beginning of the yearly trade
- The token soon fell into descending consolidation and slowly approached the initial levels that it traded before the surge
- However, despite the resurgence of bears, the price is attempting to bounce back from the lower support after facing a minor rejection from the descending channel
- Besides, the dried volume could hinder the progress of the rally, but the buyers may prevent the token from slicing through the pivotal support
- Meanwhile, a bounce beyond the crucial 200-day MA resistance levels could pave way for a fine upswing toward its immediate highs.
| Nano Price Today | $0.7626 |
| Price Change <Yearly> | -85% |
| Market Dominance | 0.011% |
| Market Rank (as per CMC) | 176 |
| Market Cap | $101.61 million |
| Fully Diluted Market Cap | $102.59 million |
| ATH | $37.62 |
| ATL | $0.006658 |
Prices as of December, 2022
Read more: Crypto Price Predictions
How to Buy Nano in India?
Want to buy Nano coin (XNO), but not finding the right platform? No worries, you have landed at the right place.
CoinDCX, one of the leading crypto investment Apps in India, offers you a secure and reliable platform for purchasing any of your desired tokens. To register with us, all you need to do is follow the below-mentioned steps,
- Download CoinDCX App on your smartphone
- Enter the details required for registration
- Complete KYC
- After your profile is verified, fund your CoinDCX wallet and buy Nano (XNO)
