Nano is a cryptocurrency that claims to be “a low-latency payment platform that requires minimal resources.”Nano’s initial objective, like that of other cryptocurrencies, is to serve as a viable replacement for fiat currency. Nano has a delegated proof-of-stake (DPoS) blockchain with directed acyclic graphs (DAG) intended to deliver rapid, fee-free payments without offering a strong smart contract platform or reliable store of value.
Nano is an ambitious project that aims to break into a well-established market sector by developing a protocol with record transaction processing speeds, low latencies, and limitless scalability. Nano is a cryptocurrency that aims to decentralize the ownership of on-chain assets without the need for mining rewards or a coin offering by using a captcha-solving distribution event.
Colin Lemahieu, George Coxon, and Forest Horsman represented the Nano Foundation on the 28th and 29th of June at the Reset-Connect event in London, UK. Reset-Connect is the largest sustainability event in the UK and connects individuals, businesses, and organizations with sustainability in mind. Nano is the only currency attending the event, showing the recognition of a project “done the right way.”
Today’s Nano price is $0.975773 with a 24-hour trading volume of $2,492,323. Nano is up 5.34% in the last 24 hours. The current CoinMarketCap ranking is #165, with a live market cap of $130,020,054. It has a circulating supply of 133,248,297 XNO coins and a max. supply of 133,248,297 XNO coins.
What is Nano?
Nano, first released in 2014 by software developer Colin LeMahieu under the name RaiBlocks, is a relic from the crypto era. The group followed the original Bitcoin plan and hoped that NANO would become virtual money that people could use every day. NANO overcomes scalability concerns, transaction confirmation delays, and other computational issues. Nano is a lightly modified version of cryptocurrency that focuses first and foremost on the exchange of value, with quick transaction times, zero costs, and energy efficiency.
There was no ICO when NANO was initially released. Users could get coins by solving captchas (the Captcha Faucet was active for two years).In the beginning, NANO’s value fluctuated around its all-time high of $4.02, but it began to rise in December 2017 and reached $4.02 in December 2017. From that moment onwards, NANO’s price rose steadily until it hit a $33.34 peak in mid-August. NANO is currently traded for around $0.9253.
The NANO blockchain is based on the Directed Acyclic Graph (DAG), with each account being assigned its own blockchain. Each blockchain is owned by its creator and can only be updated by them. Nano uses Open Representative Voting (type of PoS) and a small amount of PoW to rate-limit transactions. Nano was created to provide an asset distribution without mining incentives or coin offerings, according to the project’s website.
Nano also has an innovative consensus mechanism called Open Representative Voting (ORV). An account can select a proxy to vote on the user’s behalf, even if the delegating account is offline. The participants of this scheme are the nodes that remain online for a long period of time and vote on the validity of transactions they observe on the ledger. This is another distinguishing characteristic of Nano coins vs. the competition. With no direct financial incentive for the nodes, this improves the network’s decentralization in the long term.
The company announced its new ticker symbol (Ӿ) and standard symbol (XNO). Nano is clearly taking things seriously in 2022, with the launch of a fresh website and a new corporate identity.
How does Nano work?
The Nano protocol is designed to be a lightweight, low-latency payment platform that requires minimal resources. The Nano network consists of a series of interconnected blockchains, each of which represents an account on the ledger. The blockchains are updated asynchronously and do not rely on centralized nodes or miners. Instead, each account has its own blockchain, which can be updated by the account holder. This design is intended to offer scalability and near-instantaneous transaction processing times.
Nano uses a delegated proof-of-stake (DPoS) consensus mechanism in which account holders can delegate their voting power to representatives. The Nano network is secured by a group of elected representatives who validate transactions and add them to the ledger. The representatives are chosen by the account holders, who can change their representatives at any time.
Nano also uses a proof-of-work (PoW) system to rate-limit transactions and prevent spam. The Nano network is designed to be highly scalable, with no limit on the number of transactions that can be processed.
Nano is an open-source project with a community of developers and volunteers who contribute to the development of the protocol. The development team is aiming to make transactions faster, in order to ensure that the technology is scalable while still emphasizing security. Because of this, the prospect of the government attempting to prohibit Nano digital currency is significantly less. It’s conceivable that governments might learn from this technology and use it to create a digital currency in their own countries as a substitute for cash, similar to how the digital yen was implemented in China.
In the long term, because NANO is built on blockchain technology, it has a lot of promise. NANO is the only digital currency that employs a Block Lattice rather than a traditional data structure. This allows for faster network upgrades and quicker transaction confirmation times. NANO may be used to send instant payments from your smartphone or PC.
Team Behind Nano
According to the Nano website, Nano provides open access to anyone in the world wanting to transfer value instantly, without fees, and in an eco-friendly way. The Nano team is led by Colin LeMahieu, who is the founder and CEO of Nano. He has over 15 years of experience in software development and has a background in mathematics and physics. Other notable members of the team include George Coxon, Nano’s Director of Communications. She is responsible for the Nano brand and community outreach.
Dimitrios Siganos, Nano’s Lead Software Developer is responsible for the development of the Nano protocol. He has a background in cryptography and distributed systems. The team is rounded out by a number of advisors, including Deepa Mardolkar, who has led European business units across retail finance and stored value payments, in multinational organizations such as American Express, GE Money, Capital One, and most recently, Amazon. A group advises the Nano team of experienced individuals from the blockchain and cryptocurrency industry.
What Is The Nano Foundation?
The Nano Foundation is a non-profit organization that was created to promote and support the development of the Nano protocol. Nano is a decentralized cryptocurrency that can be used by anyone, according to the project’s official website. Nano claims that there are no costs associated with transactions and that sending and receiving XNO coins is completely free. The project also states that it is “ECO Friendly,” implying that there will be no mining, manufacturing, or minting of Nano.
Mission
The Nano Foundation’s mission is to “advance blockchain technology for social impact by developing and promoting sustainable, decentralized solutions that harness the power of Nano’s unique, feeless, instant transactions.”
Vision
The Nano Foundation envisions a future in which blockchain technology is widely adopted and used to solve global challenges. The foundation believes that blockchains have the potential to create a more inclusive and equitable world. values. The Nano Foundation believes in three core values: decentralization, sustainability, and inclusivity. These values guide the foundation’s work and are reflected in its mission statement.
Decentralization
The Nano Foundation is committed to promoting decentralized solutions that are powered by blockchain technology. The foundation believes that decentralization is key to creating a more inclusive and equitable world.
Sustainability
The Nano Foundation is committed to promoting sustainable solutions that are powered by blockchain technology. The foundation believes that sustainability is key to creating a more inclusive and equitable world.
Inclusivity
The Nano Foundation is committed to promoting inclusive solutions that are powered by blockchain technology. The foundation believes that inclusivity is key to creating a more inclusive and equitable world.
Nano Price History
The Nano cryptocurrency was launched on October 1st, 2015 as open-source crypto focused on eliminating the flaws inherent to Bitcoin and its descendants while also providing a platform for rapid payments between individuals. With near-instant transactions and no costs, Nano has overcome Bitcoin’s scalability problem.
At the time of launch, each Nano coin was worth about $0.026179 on 16th July 2017. The price pumped by 3,381.073 percent over the course of the past 5 years, 0 months, and 11 days as the hype around Bitcoin and other cryptocurrencies reached a fever pitch. However, the prices of all cryptocurrencies plunged in the months, and following the Q4 2021 high of $6.23 seen on 3 October, the price of Nano has been relatively stable, hovering around the $1 mark for the rest of the year. By the middle of 2021, after falling below $5 on December 2nd, the coin continued to drop in value, ending the year at $3.40.
In the year 2022, the first two months were better and the prices were seen to hold above $2. Nano, however, could not keep this rally going and the prices came crashing down in the later months of the year. The coin fell below the $2 barrier on 20 February, to then close the month out at $1.94. The price of XNO rose dramatically in the first half of March, bottoming at less than $2 in early April.
The price of NANO fell below the all-time high of $37.62 that was witnessed on 2 January 2018, and 63% below the 90-day high of $3.25 seen on 4 April. The May 18 winter saw Nano price fall from $2 to new all-time lows of below $1 whereby it has held up to date where it is trading at $$0.9253 as of July 28.
A circulating supply of 133,248,297 XNO coins presents a market capitalization of around $123,382,558 – ranking the coin at number 166 on the crypto charts according to data from Coinmarketcap.
Nano Technical analysis
Nano price movement in the last one month has been good as the price has been stable at around $1. The market has been characterized by high sell volume and low buy volume, which is an indication that there is more selling pressure than buying pressure in the market. The price has made higher lows and higher highs, which is an indication that the market is in an uptrend. Nano is currently trading below the 200-day simple moving average (SMA). The 200-day SMA is a key level of support and resistance, and the current trend is bearish.
The relative strength index (RSI) is a technical indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions. The RSI for Nano is currently at 58, an indication of neither overbought nor oversold conditions.
The moving average convergence divergence (MACD) is a momentum indicator that shows the relationship between two moving averages of prices. The MACD for Nano is currently in the bearish zone, an indication that the market is in a downward trend.
Nano price is expected to continue the uptrend in the near term as the market conditions remain favorable. However, the weakening market momentum is a cause for concern and could lead to a reversal in the prices in the medium term.
Nano Price Prediction by Authority Sites
Wallet Investor
Wallet Investor believes a long-term price decrease is expected. Their price prediction for 2022 is $0.0838 which is a price decrease of around 91.953 from the current price. The site terms Nano as a bad investment. The site is giving a bearish outlook for Nano for the next 5 years as they believe that by 2027, the price of Nano will be $0.016 which is a decrease of around 99.8% from the current price.
Technewsleader
The Nano price forecast from Technewsleader is bullish, as they see the prices are likely to continue increasing and could touch a maximum price of $2.12 by the end of 2022. They give a bullish outlook for the next 5 years and the prices could potentially hit $6.43 by 2027. On the long-term price forecast, they believe by 2030 the prices are likely to reach a trading price of $42.84.
Price Prediction net
Price Prediction net gives a more bullish outlook on the Nano price forecast as they see the prices are likely to touch $2.24 by 2021 and $4.48 by 2025. They have given a 5-year price forecast, where they see the prices potentially hitting $8.96 by 2030. According to their predictions, Nano is expected to witness significant price growth and by 2031, the price could attain a maximum price of $46.41.
Cryptopolitan
Nano Price Predi prediction 2022
According to the current market conditions and the technical indicators, it is expected that the Nano prices are likely to continue the uptrend in the near term. Our in-depth price analysis shows that the prices are expected to touch a maximum price of $1.57 by 2022. The average forecast for 2022 is $1.38 and the least price that Nano price can attain in 2022 is $1.34.
Nano Price Prediction 2023
Our XNO price forecast for 2023 is bullish as we see the prices potentially hitting a maximum price of $2.34. The average trading price for 2023 is $2.07 and the least price that can be attained in 2023 is $2.01.
Nano Price Prediction 2024
Our Nano price forecast for 2024 is bullish, as we see the prices potentially reaching a maximum value of $3.44. A minimum price of $2.90 is anticipated to be attained in 2024. The average Nano price for 2024 is $3.00.
Nano Price Prediction 2025
In 2025, Nano’s price might attain a maximum price of $4.78. 2025 could be a breakout year for Nano. The average price value is likely to be $4.32 and a minimum price of $4.17 is expected.
Nano Price Prediction 2026
Nano price is expected to reach a maximum price of $7.27 in 2026. This could be a good year for Nano investors as the average price is forecasted to be $6.22 and the minimum price level that can be attained is $6.00.
Nano Price Prediction 2027
In 2027, the prices of Nano might attain a maximum price of $10.51. The average price of Nano in 2027 is expected to be $8.86 and the minimum price that can be attained is $8.61.
Nano Price Prediction 2028
The year 2028 could be a bullish year for Nano as the prices are expected to reach a maximum value of $15.01. The minimum value forecasted is $12.40 and the average price for 2028 is $12.75.
Nano Price Prediction 2029
Nano’s price might attain a maximum price value of $21.77 in 2029. The minimum price is expected to be $18.44 and the average forecasted price for 2029 is $19.08.
Nano Price Prediction 2030
In the year 2030, the expected minimum price value is $25.97 and also Nano could potentially hit a maximum price value of $31.40.An average price level of $26.93 is also possible by the end of 2030.
Nano Price Prediction 2031
In the year 2031, the maximum level that could be attained is $46.41.Nano price might potentially hit a minimum level of $40.12 and an average level of $41.47 is possible by the end of 2031.
Conclusion
It is anticipated that Nano’s value would increase more because scarcity tends to cause price increases. In a recent post on youtube, the Nano team has expressed to users why Nano is the best digital asset.
Nano is a digital asset that has the potential to change the way we interact with the global economy. It is fast, fee-less, and eco-friendly, which makes it ideal for day-to-day transactions. The Nano team is constantly upgrading the network to make it even better, which is a positive sign for the future of the project. The Nano prices are expected to continue to rise in the coming years as more people begin to use the currency for day-to-day transactions. We hope that our Nano price predictions have helped you make informed decisions about your investment strategy.
Source: https://www.cryptopolitan.com/nano-price-prediction/