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Summary
Type
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State
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Country
United States
Founded
2015
Dlt Type
DAG
Exchanges
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Regulator
SEC
Blockchain
Own network
Product Stage
Completed
Blockchain Necessity
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OTC Index Position
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CoinMarketCap Position
39
Last ReportLast Report
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Financial Summary
Price
$1.69
Fair value
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Market cap
$225,469,850
24H Change
-0.89%
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About project
⦁ NANO (XRB) is an open-source programming venture and a shared cryptocurrency. It is a low inertness and high-throughput digital money used in exchange affirmation. The main difference between Nano and other coins is that it does not require any exceptions equipment to mine, but it is rather conveyed through its fixture in light by guaranteeing and fathoming captcha. Nano features instant transaction confirmation and has with a low energy consumption.
The concept of a “block lattice” is appied, according to which each account has it’s own blockchain and each “block” contains just one transaction. The global set of accounts is referred to as the Ledger. When one wants to send Nano to another person, two transactions are required - a send transaction that deducts from the sender’s balance and a receive transaction, initiated by the recipient, that adds to their balance.
Nano uses a directed acyclic graph algorithm, but instead of using DAG for the tangle, Nano employs its own novel tech called the block-lattice.
The block-lattice infrastructure operates like blockchain but with a few key difference. To start, each account on Nano’s protocol has its own blockchain called an account-chain. Only an account-chain’s user can modify his/her individual chain, and this allows each account-chain to be updated asynchronously of the rest of the block-lattice network.
In effect, this means that users can send and update blocks on their account-chain without relying on the whole network. To achieve this, any funds sent on Nano’s block-lattice require two transactions: a sender transaction and a receiver transaction. In order for a transaction to be settled, the receiving party must sign a block confirming that the funds were received. If only the sending party’s block is signed, a transaction is pended as unsettled. All transactions are sent in User Datagram Protocol (UDP) packets, which keep computing costs low and allow senders to transfer funds even if a receiver is offline.
One of the block-lattice’s more attractive features is how its ledger handles and stores transactions. Each Nano’s transaction is its own block, and each new block replaces the one before it on its user’s account chain. In order to maintain a proper account history, new blocks take a record of the account holder’s current balance and factor it into the processing transaction.
Core team
JS
Colin LeMahieu
Creator & Lead Developer
 
JS
Mica Busch
Developer
 
JS
Zack Shapiro
iOS developer
 
JS
Devin Alexander Torres
Developer
 
JS
Russel Waters
Developer
 
JS
Troy Retzer
Community & Public Relations
 
JS
Tito Vecchione
Designer
 
JS
Josh Kleiman
Legal
 
JS
Brian Pugh
Developer
 
JS
George Coxon
Operations & Partnerships
 
Advisors & CM
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