Review on Nano by Azad Aliyev

What is Nano Coin?

The phrase "NANO" is officially branded from the formation known as "RaiBlocks". In 2018, the company decided to rename the crypto project (and the currency itself) to Nano. Thus, a new beginning was signed for the coin.

It is also understood from the name Nano as a project and cryptocurrency. It aims to replace fiat currencies and introduce crypto into people's daily lives. Coin's goals and purposes are almost the same as Bitcoin.

Unlike Bitcoin, Nano blockchain aims to perform tasks (mainly transactions) in a faster and more flexible way.

Nano Coin Review: Features

This cryptocurrency, which we have examined with the nano coin review, uses Proof-of-Stake and Prook-of-Work algorithms together. This mix is ​​called "delegated Proof-of-Stake". The way it works is as follows; In the nano coin system, when there is a problem with a transaction (let's say two transactions overlap, one is genuine and the other is attempted robbery or infiltration), there are "delegates" who vote the real transaction and remove the fake one.

To become a delegate, you need to have some XRB in your wallet. This in turn encourages people to participate in the growth and advancement of the Nano community.

History of Nano

Nano (formerly RaiBlocks) was created in 2015 by a person named Colin LaMahieu (a software engineer with years of experience in computer software). It was released under the name RaiBlocks but a few years later the team went to rebrand. So why?

The reason is pretty simple. The first name used could not reach the mainstream audience the company was trying to reach. They weren't wrong either. After announcing the name change, transactions increased dramatically.

This is why this currency is often referred to as the "XRB coin" when asked if the nano coin is good. A tag from the days of RaiBlocks. Both Nano and XRB expressions are correct expressions for this coin.

Nano Coin Review: Exchanges

Since the emergence of the nano coin, there has been only one goal in mind; making peer-to-peer cryptocurrency transactions more scalable. It is common knowledge that both Bitcoin (especially this coin) and many older blockchain-based cryptos see scalability as the biggest issue. The result is very high transaction fees, incredibly slow transaction speeds, and so on.

Many different altcoins have tried to build blockchain versions that will help improve scalability issues. This crypto, which we discussed in the nano coin review, is one of them. Of course, the following question comes to mind; What is special about nano coin? My answer to this is very simple; block-lattice.

NanoBlock Lattice

Block lattice is a mixture of two systems; It is a combination of traditional blockchain and "directed acyclic graph" or DAG for short.

DAG is a data configuration type. Let's say you are going to trade (buy) with traditional cryptocurrency. Your transaction is grouped into a "block" of predetermined size. These blocks make up the blockchain. With the DAG structure, you can see each transaction and understand how it relates to the big picture of the blockchain.

Nano Coin Review: Features

The good thing about DAG is that it's incredibly scalable. Exactly what traditional blockchains need. The downside is that it's not particularly safe. But this is where the famous security of blockchain comes into play.

Nano coin aims to bring the best of both worlds together; The scalability of DAG and the security of blockchain.

How is it working?

The working principle of nano coin is quite simple.

To put it simply; Nano stores incoming and outgoing transaction data on your private, personal blockchain. In this way, your wallet balance is always up-to-date and safe. At the same time, the blockchain works seamlessly.

The overall concept and idea behind the nano cryptocurrency achieves its goal. The company has a single focus; scalability. They are not too concerned about security. This is where blockchain comes into play.

The team is focused on providing the fastest transaction in the cryptocurrency space. The "fee" issue is also settled. There are no transaction fees when using Nano coins in your transactions. Yes, you read it right; 0 charges.

Price

Let's take a look at the chart below to inform about the Nano coin future and possible XRB price predictions.

At the time of writing the Nano coin review, the price of Nano coin is $1.31. As you can see from the table, there has been a remarkable (even quite notable) change affecting the price of Nano coin. It took place in January 2018. If you are familiar with cryptocurrencies and have been following them for a while, you probably know that XRB coin has nothing to do with this situation.

From 2017 to 2018, the cryptocurrency market experienced one of its strangest periods. Cryptocurrency prices first rose and then suddenly dropped. Some fell completely, some fell a little.

There are many reasons for the decline (it would be a long list to list them all here), but let's mention a few main reasons for Nano Coin review; some states have banned cryptocurrencies altogether, with economic experts claiming that the crypto world is doomed. People also started panic selling.

As you can see, "Is nano coin good?" There is little relevance to answer the question. In September 2018, the Nano coi price began to stabilize. The location is pretty good right now. It's even showing signs of growth.

As for the XRB price prediction... Many experts say that the company will continue to develop the technology and remain focused on the "free, fast and scalable" goal, so the price of the Nano coin will rise slowly.

I wanted to include many comprehensive topics in the nano coin review. Let's make a brief summary about Nano coin so that the information we provide is remembered.

Nano coin has very specific and specific goals as a cryptocurrency platform. It aims to make peer-to-peer crypto trading fast and fluid. Although this is not available with older blockchain versions, Nano coin offers a solution. Combining blockchain and DAG systems seems like a great way to solve these problems. Time will tell whether it comes true or not.

It should not be forgotten that the team has made significant progress over the years. The price of the coin reflects this quite well.