The Nano was created for one purpose only - to send value to the distance in the most optimal way possible.
NANO basic features, advantages and disadvantages
One of the greatest assets of NANO is, of course, true, fully free transfers.
Literally, this means that if we transfer 1 NANO, the recipient will always receive 1 NANO and it's completely free! This aspect also excludes the frequent problem of correctly setting the transfer fee (fee) in the case of "traditional" cryptocurrencies in POW (proof of stake) technology. Because of this, our transaction may get stuck in the queue
Thanks to a completely new technology and low demand for computing power, the whole network consumes dramatically small amounts of energy.
As a result, the network keeps cheap NODY (nodes)whose monthly cost of living is 5-10 $.
Everyone can become part of NANO and maintain the server, as a result everyone can be a voluntary representative to support the project.
The target group of representatives are institutions such as stock exchanges, stores, payment processors, Universities, etc.
The transfer time is around 3 to 5 sec (with confirmation)
In technology Proof of Work such times are available only in the absence of confirmation (i.e. in the so-called 0-conf case).
NANO has several built-in safeguards against hacker attacks, one of them is forcing a small proof of work calculation, ie our computers have to do a small job to send funds.
Worth noting the fact, in this technology there is no possibility of attacking 51% (double spend attack)
All security features along with a detailed description can be found on Github.
The NANO theoretical bandwidth is 7000 TPS (transactions per second). This is a purely hypothetical value, because the speed of NANO depends to the greatest extent on hardware limitations, such as disk speed, network bandwidth, etc.
The creator of NANO, Colin Lemahieu says that with the development of infrastructure and equipment, this value is higher. At the moment, real, confirmed value in community tests is stable 80 TPS (transaction per second), the highest measured value on the day of writing this article is 756 TPS. This value should increase after the completion of improvements which should be completed by the end of 2018 year.
An interesting fact is that many projects exaggerate this value, giving numbers from a very short period of time, such measurements have nothing to do with real values, because in fact, the average obtained over a longer period counts (the test should last several hours).
Unfortunately, many projects give confusing values obtained in the closed circulation of several servers in the purchased strong Amazon cloud, which is a complete outlook of real results.
This is one of the main pillars of the NANO project, the creators put a lot of emphasis on this issue, each user of the portfolio can choose his representative, thus contributing to decentralization.
In the future NANO nodes (nodes) are to be fully public, the community will be able to easily assess the credibility and consciously choose their representatives, ultimately they will also be institutions such as Universities, exchanges, etc.
There are clearly visible disorders in decentralization, the era has ended digging cryptocurrencies by "ordinary" bread eaters.
The era of large corporations with cheap electricity and the exclusion from the interests of smaller mines took place, and the struggle for the biggest piece of pie between mining concerns is being suffered, as is the decentralization, security and general reputation of the cryptocurrency market. The effect of this are frequent forks, ie the division and branching of the block chain, which in turn leads to the division of the community into various projects, one of the negative examples is currently "war" between Bitcoin and Bitcoin Cash.
NANO is one of the most "green" cryptocurrencies, the energy cost needed for Bitcoin's operation 8 millions of times bigger compared to NANO! , an additional undeniable fact is that we, ordinary users, sponsor the currency of crypts by paying for transactions. In summary, nothing in nature is lost, especially money. Nano seems to solve the problem of fees completely.
NANO is currently fully usable, in addition to standard wallets, NANO has light wallets for Windows, Linux, IOS and Android, the two best known are Canoe and NANO Wallet Company.
In plans for positive anonymity services, the community is very interested in this additional option and the creator Colin himself.
Nano has a lot of development projects that are developed by NANO fans, one of them is a payment plug Brainblockswhich is growing fast
At the moment in NANO Core programs about 7 people, all the work can be watched on github.
By the end of the year, 2018 is planning to implement a few more improvements that will improve the security and speed of the network, in addition, the whole book is planned to be slimmed down (Pruning).
Long-term spam attacks are a threat to NANO.
Solutions have already been developed, one of them VoteByHash has just been introduced, so far after the first days the amount of data generated by the network dropped by about 90%, ultimately it is to be 99%, thanks to this network will be much more difficult to attack through spam attacks, most importantly NANO infrastructure should continue continue to act during attacks, only to be slowed down.
NANO was invented and created basically by one talented person, Colin Lemahieu, created and continues to develop NANO since the 2014 year, later joined by several talented programmers. Sam Colin Lemahieu programs in around 30 languages.
He still worked until a short time and in free time he created NANO, companies in which he programmed it Dell, AMD, Qualcommhe dealt with, among other things, the debugging process in processors. He is known in the industry "as a man with heavy tasks"
One of Colin's principles that she professes is "Do one thing, and do it well"And so far the NANO team has been working so far.
In February, 2016 Colin Lemahieu released NANO to the light of day, presenting the project on Bitcointalkafter a few days then Raiblocks has been given away by the creator for free!
This was done using the free clicking on the captcha faucet.
Then, for almost a year, you could buy NANO (Raiblocks) around 1 cent ....
Worth noting is the fact that NANO already had a product ready and working in 2016!
In February 2018 NANO community received a severe blow, the largest Bitgrail stock exchange of that time was hacked, NANO worth about 195 million dollars was stolen or embezzled through a stock exchange error, it caused a long-lasting sale in the market and confidence in NANO fell. Time has shown that it was very harmful for this project, with time it turned out that the creators had nothing to do with it.
Finally, the visualization of the enormity of work that has been carried out from 2014, as you can see NANO was designed completely from scratch, the genius of this project did not come from nothing, it's the effect of hundreds of hours of hard work.
NANO also has its own NANEX exchange, which does not require verification.