Nano is a decentralized, sustainable, and secure digital currency focused on addressing inefficiencies in existing financial systems. Designed to provide simple peer-to-peer value transfers, its unique structure enables individuals to access the most efficient and easiest-to-use cryptocurrency, connecting them to the global economy at minimal cost.

1. Project Overview

XNO is a zero-fee, instant transaction cryptocurrency with significant scalability. It leverages a Directed Acyclic Graph (DAG) data structure instead of the traditional single-threaded blockchain. The unique DAG, referred to as Block-Lattice by the team, powers XNOs functionality.

Features
Easy to use and fee-free: By focusing on transferring value as efficiently as possible, the Nano network offers free transactions, making it easy for users and service providers to enjoy the powerful and cost-saving qualities of digital currency.

Environmentally friendly: Unlike high-energy-consuming mining, Nano uses an efficient consensus protocol called Open Representative Voting (ORV), which minimizes energy consumption.

Instant transactions: Digital currency should be fast and easy to use, whether buying goods in-store, making cross-border transfers, or paying online. Nano transactions confirm within seconds, fully settled on the network without needing credit card or banking network approvals.

Mining and Airdrop
The Nano protocol deliberately avoids reliance on mining. This design decision eliminates unnecessary energy consumption and centralization issues associated with mining. All currency has been distributed, with a maximum supply of 133,248,297 XNO.

Nano uses a unique "captcha airdrop system" for distribution, aiming for fair and organic distribution. The airdrop started on October 1, 2015, requiring users to complete complex captcha tests to earn Nano. This distribution method allowed anyone with a computer to participate through time and effort rather than through environmentally harmful mining.

This airdrop distribution makes Nano more accessible, especially for those without funds for mining hardware or participation in Initial Coin Offerings (ICOs). This unique approach distributes Nano to new users and widens its global reach. Beyond Europe and North America, it has helped establish active communities in Central and South America, including large communities in Brazil and Venezuela, and in Southeast Asia, notably Indonesia.

Network Protocol
The Nano network features unique and efficient characteristics that enable near-instant transactions with minimal energy consumption, ease of use, and true scalability required for digital currencies.

The distributed ledger, known as Block-Lattice, allows each account to have its own blockchain, enabling asynchronous updates to the rest of the network, resulting in fast transaction confirmation with minimal resource overhead. Transactions record account balances instead of amounts, allowing substantial database pruning without compromising security.

The consensus mechanism, Open Representative Voting (ORV), differs significantly from other blockchain networks. ORV achieves consensus through representatives voting on the validity of shared blocks on the network. Each representatives voting weight is delegated by token holders, with the weight proportional to the amount delegated. Account owners retain unrestricted access to their funds since delegation does not involve staking, and representatives cannot control funds, only gaining voting rights.

2. Commentary

Nano (formerly RaiBlocks XRB), a novel cryptocurrency based on the Block-Lattice structure, where each account has its own blockchain, provides nearly instantaneous transaction speeds and unlimited scalability. Each account (address) has its own blockchain, allowing asynchronous updates to the rest of the network with minimal resource overhead for fast transaction confirmation. Transactions record account balances rather than amounts, enabling significant database pruning without sacrificing security. Nano’s zero-fee, instant transaction characteristics make it an excellent cryptocurrency for consumer transactions.

Related Links:
https://nano.org/en
https://info.binance.com/en/currencies/nano
http://www.qukuaiwang.com.cn/szhb/2727.html#jj