Nano Coin (NANO) has been in the red zone for a long time but tables seem to be turning after the coin gained 6% in the past 24 hours. As a result the coin shot back to the above $4 mark and maintained its top 40 position in market cap. Basically, Nano’s fundamentals make a lot of improvements in the crypto arena placing it among the favorable HODL coins at the moment.
What users might like the most from this innovation is its fast and transaction free nature which complements its functionality as a payment coin. Some crypto enthusiasts have argued that it might as well be the most effective crypto right now. The Nano wallet presents a perfect arbitrage opportunity by the fact that transactions within this wallet are not charged.
Scalability issues have haunted pioneer coins like the BTC; that is why Nano’s DAG protocol using the block-lattice tech comes as a solution. This technology is free of the limitations suffered by coins facing scalability issues hence slow transactions per second. Users of the Nano coin can send and receive their altcoins within a few seconds even in the foreseeable future.
Another focus of this project is making the transactions and coins extremely light to avoid clogging the platform. The team has worked on this and transactions can use a small 1 UDP packet for peers operating within the network.
Listing on Exchanges
Nano is currently 15 months old and is traded on over 25 coin exchanges. The BTC, ETH, and USDT are the dominating trading pairs for this altcoin which was initially known as the XRB token. Nano is hopeful that larger exchanges like Coinbase will eventually list the coin in order for the crypto community to be able to purchase it using fiat currency. The coin has been undergoing security audits which will determine its future in the coming years.
Nano’s Infinite Scalability
This new technology used by the Nano team is quite different from the commonly known long chain decentralized public ledgers. The block-lattice tech is basically an advanced blockchain network that makes platforms highly scalable. So far, available theory suggests that the coin’s scalability is infinite unlike most altcoins in the market. Users have their own blockchain ledgers connected to the main chain and a delegated proof of stake protocol is used within the network. However, the hardware and bandwidth components of this innovation do not fully agree with the idea of infinite scalability. This is because at some point the two will find it difficult to process the rate of transactions approved in the software component.
Nano recently updated its community as the 2018 crypto market cap continues to rally up. The coin’s developments are expected to push its price and utility higher as more features are introduced or enhanced;
- Nano Wallet
Crypto users will be able to access Nano wallets from their desired devices; this includes iOS, windows and Android. This wallet whose transaction fees will be free is set to increase Nano coin’s efficiency as more users accept cryptocurrencies in the coming days.
- Block Explorer
User interfaces have proven to be an integral part of crypto adoption. Nano will soon be releasing a new block that will monitor live performance of the coin. This will result to a shift of base from nano.org to nanocode.co.
- Watch App
Users will be able to track over 50 most recent transactions once this application is launched. This will enable the crypto community using Nano coins to ensure their payments are secured via tracking.