Nano (XNO) was launched in 2014, previously under the name RaiBlocks (XRB). Nano was designed to address some of the shortcomings of Bitcoin (BTC) by offering fast and low-cost transactions. As Kriptokoin.com, in this article, we examined what XNO Coin is, how it works and what its future price predictions are.
What is XNO Coin?
Nano (XNO) is a cryptocurrency that provides a decentralized peer-to-peer payment system. Nano enables NANO transactions to be processed in seconds by using the block-lattice data structure and decentralized voting system. This technology makes it possible for each user of the network to have their own blockchain and for transactions to be updated instantly.
One of the key features of Nano is that it does not charge any fees for transactions. Unlike Bitcoin, Nano validates transactions without the need for energy-intensive mining processes. This makes Nano ideal for microtransactions and fast payment solutions. NANO is used as the native cryptocurrency of the network for both transactions and representative voting.
Working Principle of Nano
Nano uses the Open Representative Voting (ORV) system and block-lattice data structure. This system allows users to vote for representatives, and these representatives verify transactions on the network. Thanks to the block-lattice structure, each user has its own blockchain and transactions are carried out instantly. In this way, transactions are completed quickly without having to wait for the entire network to synchronize.
The ORV system offers an energy efficient structure and is environmentally friendly. Representatives are elected by NANO owners to verify transactions, and these representatives ensure the security of the network. This innovative approach of Nano makes it a fast, cost-free and environmentally friendly cryptocurrency.
History and Founders of Nano
Nano was launched in 2014 as RaiBlocks (XRB) and users were able to earn XRB by doing CAPTCHA solutions. In 2018, it was rebranded as Nano and became a payment system that offers fast and cost-free transactions. Nano’s founder and CEO is Colin LeMahieu. LeMahieu is a software engineer living in the United Kingdom, and the main idea of the project is to provide fast and easy transactions in a decentralized environment.
Nano’s goal is to enable users to make low-cost and fast transactions and to find a place in the mainstream thanks to these features. Nano distinguishes itself from other cryptocurrencies by offering users almost instant transaction verification.
Features That Make Nano Unique
One of the most important features that makes Nano unique is that transactions are completed instantly. While most cryptocurrency networks take from a few seconds to a few minutes to verify transactions, Nano transactions are processed almost instantly. This feature provides a huge advantage for sellers; because payments can be received instantly and transactions can be completed without delay.
Another important advantage is the absence of transaction fees on the Nano network. Users ensure that transactions are verified by selecting representatives, and these representatives do not receive any fees for their work. In this way, it offers a perfect solution for microtransactions and makes cryptocurrency payments more accessible.
XNO Coin Price Prediction
Nano’s price predictions are based on the overall volatility of the cryptocurrency market and Nano’s technological developments. According to current market data, the price of Nano largely depends on market trends and the overall volatility of the cryptocurrency market. Experts predict that Nano may be adopted more widely in the future due to its environmentally friendly and fast processing capabilities. However, like all cryptocurrencies, the price of NANO may be sensitive to sudden changes in the market.
The current price of Nano is currently around $0.88. It is estimated that the market value may reach 1.5 dollars by 2025. In the long term, Nano is expected to gain wider acceptance with its innovative technology and zero transaction fees. This means that its price could exceed $5 by 2030. According to current price information, Nano’s 24-hour trading volume is around $3,089,213. However, the total market value is $109,566,148. The circulating supply of Nano is 133,248,290 NANO and the maximum supply is the same amount. This limited supply provides the potential to protect the Nano’s value against inflation.
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