In 2008 an unidentified individual named Satoshi Nakamoto came forward with the first white paper for a concept of a decentralized currency market with the introduction of Bitcoin. The main POI was the fact that it introduced the concept of a blockchain. A public structure on which all of the transactions were to be carried out while keeping in mind the security measures for the protection of funds. The main problems were the scalability, transaction fee, and the amount of power required.
Soon after that, many new projects started working on the development of new coins that aimed at solving these problems while having a practical implementation and targeting that field.
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What is Nano and how does it works?
Nano originally referred to as RaiBlock in its Whitepaper was created in 2014. The main aim was to create a decentralized payment method that targeted transactions to be carried out in a really fast and efficient method. With all the other cryptos that have really high gas fee, NANO absolutely solves the problem with no fee at all. As opposed to a lot of currencies that have been made with the PoS algorithm, Nano was made on their in-house Proof of Work. This helped in avoiding the transaction spams while their nodes use significantly less amount of energy. Each new transaction requires a small proof of work that helps in verification. This new algorithm was the plan of Colin Lemahieu who came up with this method to solve most of the problems with the traditional PoWalgorithm.
NANO Projects and Developments
Since its start in 2014 Nano has come a long way, from releasing v22 and Natrium to becoming partners ofTravala and Master Card. The coin has had massive growth since the start. Nano has successfully listed itself on all the major exchanges throughout the world and now are working on p2p buying and selling of the coin. Nano like some of the other projects boasts a huge and amazing community of developers and followers who love to stay updated with the current and new developments of the project.
Currently, the coin has a supply of 133,248,298 coins (the maximum amount). The Nano has held amazingly in the bear markets meaning that the people aren’t backing out of it yet. The coin made its ATH on 13 May 2021 and reached a value of 17.70 USDT. But since coins are beautifully coupled with the movement of BTC, NANO fell down to a price of 4.58 USDT with the fall of BTC from its ATH to near a price of 29.2K USDT. Currently being traded at the price of 4.43 USDT (the same price as it had near 26 March 2021.
The developers are working hard to bring new features to the Nano network and the people totally believe in them. There is a good chance that we could see Nano as one of the top cryptocurrencies.