With the crypto market still bearish, it turns out that the downfall of the market leaders is a blessing in disguise for some altcoins with Nano Coin (NANO) benefiting in various fronts. However, the traction being experienced around the coin is not by sheer hype but the development steps that the coin has been able to achieve in 2018 alone.
The highly priced Bitcoin has been on a free fall missions in the recent months and investors are looking for coins with low price and a future promising value propositions and Nano is becoming their soft landing ground. Nano Coin influence in the market is backed by its use cases and more are anticipated soon.
Nano (NANO) Brand Identity
The transitioning of Nano Coin (NANO) from RaiBlocks (XRB) by end of January has seen the coin acceptance grow magically. This saw the coin price spike above 40% ending the previous struggle. Since then the coin has become a huge challenge in the market through solving the existing scalability problems other coins including Bitcoin were facing.
Nano brand now stands for simplicity and the project speed and these are ideal components of a coin that is playing a positive role in the IoT industry. The coin has been billed as the best contender in the DLT space, a niche that not many altcoins have been able to exploit fully. However the current momentum gains in the market is attributed to the current developments.
Nano (NANO) Progressive Development Records
As promised, the Nano development team delivered on the mobile wallet in June. The wallet compatibility with Android and iOS saw a lot of interest on the platform and the team responded by making open source downloads for Linux, Mac and Windows to give additional user access to the network.
In addition the team also added the popular Ledger Nano S to support the coin. This is a third party app and its integration into the Nano platform saw a positive growth both in terms of adoption and price traction. This was followed by going live of the long awaited LocalNano.com. A comment from Reddit said:
“It looks like localnano.com is live! It is a service compared to localbitcoins that allows an individual to trade on a P2P exchange. After looking through their documents, it seems that they do not plan on charging any trading fees. They plan to derive their profits from featured/promoted listings. They also want to incorporate in Malta.”
Latest Nano (NANO) Real Life Use Case
Now that the Nano network stress test came out positive, the team through the Nano Center has announced it is one of a kind use case that will enable users take advantage of machine to machine communication using the native NANO coins as the payment vehicle. The announcement of the NANO powered charger is a huge milestone not only for the platform but the entire IoT industry. This is a prototype charger with its operation triggered through QR code scanning before completing transactions with NANO coin payments.
The Nano Coin charger fits well in the ecosystem that prides itself with micro-payment capabilities. This is a drastic shift from its earlier inroads into the gaming industry this giving its sole competitor, IOTA reasons to get worried and work on strengthening their foothold in the IoT market.
With these developments, the Nano community has responded positively and has seen the coin over 107% in the last 7 days. This has pushed the NANO market to new high to rank 23rd. at press time, the NANO coin price stood at $3.44 with an impressive gain of 24.71% against the dollar and 21.27% to BTC.