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Review on Nano by Crypto Trader

Revainrating 5 out of 5

Nano is the coin of future

Nano is perfect for everyday transactions - no fuss, no fees, no waiting. This is what simple and easy-to-use digital money feels like. Nano is a digital payment protocol designed to be accessible and lightweight, with a focus on removing inefficiencies present in other cryptocurrencies. With ultrafast transactions and zero fees on a secure, green and decentralized network, this makes Nano ideal for everyday transactions.

How do transactions work?

Nano utilizes the Block Lattice, a data-structure in which individual accounts control their own blockchain. This allows blocks to be added quickly without conflict and sent to the network for confirmation.

Transactions occur between accounts with two separate actions:

The sender publishes a block debiting their own account for the amount to be sent to the receiving account
The receiver publishes a matching block crediting their own account for the amount sent
Once a block sending funds is confirmed by the network, the transaction goes into a pending state and cannot be reversed. The receiver can be offline and safely leave the funds in this state until they are ready to publish a matching block receiving the funds to their account.




Pros
  • Feeles
  • Eco-friendly
  • Instant
Cons
  • Very very fast

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