Nano, a low latency cryptocurrency based on an innovative block-lattice data structure, offers unlimited scalability and no transaction fees. Nano is inherently a simple protocol with the sole purpose of being a high performing cryptocurrency. The Nano protocol can be run on low-power hardware that enables it to be a convenient, decentralized cryptocurrency for everyday use.
The original Nano paper (RailBlocks) and the first beta implementation were released in December 2014 published and are thus one of the first cryptocurrencies based on Directed Acyclic Graph (DAG). Soon afterwards, other DAG cryptocurrencies began to develop, in particular DagCoin / Byteball and IOTA. These DAG-based cryptocurrencies broke the blockchain mold, improving security & system performance. Byteball achieves consensus by relying on a “main chain” made up of honest, respectable and trustworthy “witnesses” for the user, while IOTA achieves consensus through cumulative PoW of stacked transactions.
Nano achieves consensus through a weighted vote on conflicting transactions. This consensus system provides faster and more deterministic transactions while maintaining a strong and decentralized system. Nano has positioned itself as one of the highest performing cryptocurrencies.
Nano is a trustless, commission-free, low-latency cryptocurrency that uses a novel lattice structure and Proof-of-Stake delegated voting. The network requires minimal resources, does not require high-powered mining hardware, and can process high transaction throughput. All of this is achieved by having individual blockchains for each account, eliminating access problems and inefficiencies from a global data structure. We identify possible attack vectors in the system and present arguments on how Nano is resistant to these forms of attacks.
Colin LeMahieu is the CEO & Founder at The Nano Foundation, which aims to expand adoption of Nano which tops the cryptocurrency industry in performance and efficiency. He is a software engineer with a background working for the largest technology companies in the industry.
source: https://www.coingecko.com/en/coins/nano
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