Nano (XNO) is a lightweight cryptocurrency aimed at facilitating secure, feeless transactions that are practically instant that address the issues and limitations of legacy banking systems and several cryptocurrencies.
Nano was launched in 2015 as RaiBlocks and was built to be an extremely low latency payment platform operating more efficiently than other existing cryptocurrency payment systems. This makes Nano an ideal solution for peer-to-peer transactions. Nano reports that their median transaction speed is less than one second making it several times faster than Bitcoin.
Nano deploys its unique ‘directed acyclic graph’ (DAG) protocol and “open representative voting’ validation method (ORV). With DAG, Nano manages to avoid mining or staking activities by delegating the blockchain functions to each individual user. Each nano user is therefore responsible for its own blockchain operations and the amount of energy it consumes.
ORV is Nano’s validation method whereby transactions are validated by ‘principal representatives’ in which token holders delegate power to. The representatives then work to confirm blocks of transactions securely.
To Buy Nano (XNO) in Australia, sign up to the Swyftx crypto exchange and deposit AUD.
