What Is Nano (NANO)?
Nano is a digital cryptocurrency that’s focused entirely on speed, hoping to relieve frustration and friction investing in Bitcoin. It offers instant settlement on financial transactions with zero fees. Of course, third-party services using Nano will likely charge fees of their own. Still, it’s a great micropayment solution.
Who Is Nano?
Initially called Railblocks, Nano was created in 2014 by Colin LeMahieu, who is Founder and CEO of the Nano Foundation. He’s joined by COO George Coxon and a handful of blockchain developers.
Use Cases of Nano
Nano’s biggest use case is as a digital currency. It strips cryptocurrency down to the basic financial ledger requirements. Think of it as buying a donut and getting a receipt for the donut, something comedian Mitch Hedberg already had an issue with. Now imagine buying that donut and getting a receipt for everything everyone ever purchased in the history of the dollar. That’s the problem Nano solves in Bitcoin.
How to Mine NANO
NANO can’t be mined, and its entire token supply is on the market, aside from 1 NANO, which is held in cold storage.
Notable Nano Investors and Partners
Binance is one of many large-scale Representatives on the Nano network. It has support from others in the crypto community for its stance against BitGrail in a hack of the currency.
Learn More About Nano
If you want to learn more about Nano, I wrote a full coin intro guide at Crypto Briefing. Or you can learn more about other cryptocurrencies across Thought for Your Penny.