Home Finance News Nano Cryptocurrency is here Because Digital Money Shouldn’t Cost the Earth

Nano Cryptocurrency is here Because Digital Money Shouldn’t Cost the Earth

Nano

Nano is a scalable and low-latency digital currency that relies on a voting system to achieve consensus. This is what makes it an energy-efficient cryptocurrency, with one of the lowest carbon footprints.  The consensus model of Nano is known as Open Representative Voting (ORV).

Latency is the time it takes for data to be transferred between its original source and its destination, measured in milliseconds. Low latency, thus means quick data transfer.

Those who want to get a detailed understanding of the Open Representative Voting (ORV) should read the White Paper on Nano Network.

The Nano White Paper is known as a living White Paper as it is up to date with current information about the network. The documentation is very clear to help developers understand the nature of the Nano Protocol.  The details about setting up a node, maintaining, and building on top of the Nano Node are clearly provided.

There are several practical things developers should know about Nano, which is about understanding the concepts, structures, features for creating wallets, payment systems, and several other services on the Nano Network.

Those who want to understand the Protocol Design will be able to dig deeper into the design and behaviors which drive the Protocol ranging from the election process, peering mechanics, and more. There are some nodes, which are managed by the Nano Foundation, associated details are available.  There is a list of unique terms one should know being a part of the Nano ecosystem, and those details are made available.

Nano Foundation empowers individuals to be able to connecting them to the global economy using digital money in a sustainable way.

Nano makes it possible for anyone to transfer value instantly without fees and in an eco-friendly way. Alongside other organizations, businesses, and advocates, Nano encourages the growth of the secure and decentralized network through various activities, including Protocol Development, Supporting Services, and Education and Resources.

Some interesting tweets about the use of Nano: Did you know that you can buy, store, exchange, and seamlessly spend Nano at over 54M retailers with the Wirex card?

I just paid my phone bill with Nano using coinsbee.

Can one really compare 1 Bitcoin with 1 Nano transaction? 1 Nano is about 0.00013 worth of Bitcoin.  It’s not per coin; it’s per individual transaction.

All these advantages, and some say that we compete with Bitcoin, and this is impossible. I say, Nano is 100 times better than bitcoin. He who does not believe in these facts is blind.

Nano makes micro and macro transactions inexpensive.

 

 

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James

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

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