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What is Nano all about
Nano, like IOTA, uses a different blockchain architecture known as directed acyclic graph (DAG). This architecture is designed to tackle the traditional scaling limitations seen in other popular blockchains, but it has also had its own issues.
Nano’s aim is to be a far more sustainable Bitcoin-like cryptocurrency, and on the surface it offers many benefits that users would appreciate. It is free of fees, transactions are instantaneous, and it can scale infinitely.
Nano manages to achieve this through its DAG architecture, which also allows each account to have its own blockchain, a very unique feature of Nano.
The consensus mechanism used by Nano is Delegated Proof-of-Stake (DPoS) which also leads to a lack of resource intensive mining to secure the blockchain; one of the reasons that enables Nano to operate without fees.
Although Nano is taking aim at Bitcoin and looking to improve upon it, the goal for the project is to be a use case for things like micropayments and cross border payments because of the zero fees and instant transactions.
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XNO Questions & Answers
What is the current Nano price?
Current price of Nano is at 2.08 Euro.
At what point did Nano's price reach its highest?
We saw the highest spike in the price of Nano on 2018-01-02, when it was at 27.93 EUR.
What is the price of Nano going to be in one month time?
Using our short term prediction, we expect, that the cost of Nano will reach between €2.45 and €4.96 in 1 month time.
What will Nano be worth in 3 months?
In accordance with our price prediction we estimate the cost of Nano will reach anywhere between €1.77 and €4.96 in 3 months time.
What will the Nano price be six months from now?
There is no easy way to make an accurate long-term prediction, however based on our prediction algorithm we estimate that Nano's price will reach anywhere between €0.32 and €4.96 in 6 months.
Does Nano have a large following on online?
120296 users took part in discussing Nano on Reddit in the last 48 hours. Nano's Twitter handle currently is followed by 149772 users.
Is Nano a good crypto to spend?
Nano is a spendable cryptocurrency, because its architecture allows for transactions to be free as well as fast, it falls into the category of spendable coins.
What is the Nano Block Lattice?
Nano is also different to other blockchains thanks to its Block Lattice, a new data architecture. Through this method, each account has its own blockchain, which allows users to update their account immediately, without waiting for the rest of the network. These individual blockchains are named “account-chains.”
How is Nano a different blockchain compared to others?
Nano takes on the idea of a distributed ledger in a different way to other cryptocurrencies. Each account has its own blockchain that only the owner can update. This is a departure from other cryptocurrencies, as its blockchain does not keep a full record of its transactions. Instead, the Nano blockchain tracks account balances and their associated transaction amounts.
Are Nano transactions free?
Nano’s transactions are entirely free and this is only possible because of its Block Lattice data architecture and the fact that each account essentially controls its own transactions meaning there is no need for fees for the greater chain.
10 days Nano price forecast
Long term Nano price prediction