Nano (XNO) Coin is a cryptocurrency that aims to eliminate the inefficiencies of other cryptocurrencies and offer true decentralization.
What is Nano (XNO) Coin?
Nano (XNO) Coin is a cryptocurrency that aims to provide free secure and instant payments. It is designed to eliminate the inefficiencies of other cryptocurrencies. Nano has undergone many changes. Raiblocks (XRB) started in 2014 and changed its name to Nano in January 2018.
Nano (XNO) Coin, which emerged to fill the gaps in the market, has acted to fill these gaps. The Nano network does not provide support for other functions such as smart contracts and decentralized applications. Nano operations are fast. A transaction occurs in less than a second. For example, Bitcoin (BTC) takes about 10 minutes to confirm its payment. Nano’s speed can also be understood from here. However, processing times vary depending on the hash rate, total network activity.
Nano differs from other platforms that use unified proof-of-work of mining networks to achieve consensus. This is because it uses Open Representative Voting (ORV) to securely approve blocks of transactions. The ORV system is more energy efficient compared to the PoW used by other cryptocurrencies.
The founder and CEO of the Nano foundation is Colin LeMahieu. It was launched in the UK. Nano’s goal is to transfer coins completely faster. For this, it searches for the fastest and most suitable ways and collects them. If we list the features;
- It is functional. It performs fast transactions.
- It follows the principles of decentralized, sustainable and efficiency.
- It acts as a sweeper that closes the gaps that arise with Bitcoin.
- It aims to be a free, secure and instant payment system.
- There is no mining. It is trusted by general voting.
How Does Nano Work?
Nano is based on Open Representative Voting (ORV) system and block lattice data structure. Other platforms have more traditional protocols like Proof of Work. For this reason, their efficiency decreases with more intense energy. The ORV system used by Nano is more efficient, unlike other platforms. The block lattice data structure is key to Nano’s innovative technology as it allows the network to split the ledger into smaller chains. Each user’s account has its own blockchain, which is updated instantly with every transaction. Therefore, the user does not have to wait for the entire network to synchronize. This technology performs transactions instantly.
Where and How to Buy Nano (XNO) Coin?
Many cryptocurrency exchanges list Nano (XNO). Exchanges listing XNO Coin; Examples include Binance, OKEx, and Huobi Global.
Investors who want to buy Nano (XNO) coins should first become a member of their preferred platform. After becoming a member and creating an account, the identity verification must be done completely. After these transactions, the desired amount of Nano (XNO) coins can be purchased on the trading page. Purchased Nano (XNO) coins can be used in transactions or stored in secure wallets.
