Review on Nano by francis fernandez
Nano: pioneer in block-lattice for faster transactions!
Nano is a digital currency that came onto the market in 2017 with a maximum issuance limit of 133,248,290 cryptocurrencies.
Nano is a decentralized virtual currency; In other words, it is not subject to regulations by third parties, be they banks, government entities or other organizations.
What makes the difference between Nano and other cryptocurrencies on the market?
* Nano is the pioneer blockchain in the use of block lattice protocol instead of blockchain; It consists of a programming code focused on the use of DAG (Directed Acyclic Graph).
* The block-lattice infrastructure was created to optimize the operation of conventional blockchains. Its implementation in the Nano design was carried out in order to speed up the execution time of the platform's transactions. This is achieved because block-lattice allows a chain of blocks to be generated for each user who performs operations on the network.
* Another benefit that block-lattice brings to the Nano platform is that it allows you to track only the balance of the account of its holder and not the amount of its operations; this allows you to decrease the volume of storage by reducing data.
* Due to the control that the user performs over his own blockchain; The use of consensus protocols such as POS and POW (Proof of Stake and Proof of Work) is not required. This leads to faster execution of transactions; Thanks to the fact that operations are not recorded in a globalized shared ledger but in a series of ledgers that are not coordinated in time (asynchronous).
* It also facilitates the updating of the chain by the exclusive part of the owner, since it is the only one with access to the history of operations carried out on its blockchain.
Among the functions of Nano the main ones are the sending and receiving of funds. This transaction is carried out through two separate operations; using one block for sending and one for receiving.
The sending block deducts the money from the sender and the receiving block sends funds to the account that receives the money.
Undoubtedly, Nano represents a platform of relevant innovation within blockchain networks by allowing wonderfully faster transactions and achieving interaction with other chains with optimal operation thanks to its block-lattice-based protocol.
Pros
- Serves as a payment instrument between decentralized blockchain.
- It is capable of carrying out transactions faster than any other blockchain thanks to the use of its block-lattice protocol.
- It allows the user to have control and autonomy over their own block chain.
Cons
- The limit quantity of Nano coins is already in circulation; mining is not possible.
