A Fast, Feeless, And Environmentally Friendly Transactions

Nano (NANO) is a cryptocurrency that aims to provide fast, feeless, and environmentally friendly transactions.

It was designed to address some of the scalability and efficiency challenges faced by traditional cryptocurrencies like Bitcoin and Ethereum. Nano’s unique design utilizes a block-lattice architecture and a consensus mechanism called Open Representative Voting (ORV) to achieve its goals. 

Block-Lattice Architecture and ORV

Nano’s architecture consists of individual blockchains, known as accounts, which are each controlled by the account owner. Each account has its own blockchain, allowing transactions to be processed asynchronously.

Nano’s consensus mechanism involves representatives chosen by account holders who participate in voting to reach consensus on the state of the network.

One of Nano’s main selling points is its feeless nature. Transactions on the Nano network do not require transaction fees, making it possible to send small amounts of cryptocurrency without incurring charges. These transactions are designed to be fast and almost instantaneous, with confirmation times typically taking a few seconds.

Moreover, Nano’s consensus mechanism does not rely on energy-intensive proof-of-work (PoW) or proof-of-stake (PoS) mechanisms, making it more energy-efficient compared to other cryptocurrencies.

Security

Nano’s security relies on the principle that an attacker would need to control more than 50% of the voting power to compromise the network, which is considered highly unlikely due to its decentralized nature.

Nano’s asynchronous nature and block-lattice architecture enable it to handle a large number of transactions without facing the same scalability limitations as some other blockchains.

NANO token

Nano wallets are available for various platforms, allowing users to store and manage their NANO tokens. Some merchants and businesses also accept NANO as a means of payment.