What is Nano coin? Some outstanding information about NANO

What is Nano coin? Previously nano coin was RaiBlocks but in January 2018 changed its name to Nano coin. The goal of Nano coin is similar to bitcoin that it can be used to replace traditional fiat money.

What is Nano coin

1 – What is Nano coin?

Nano coin with the symbol NANO is a cryptocurrency in the NANO blockchain platform. With the same goal as Bitcoin (BTC), NANO wants to become a globally used cryptocurrency that replaces fiat money and is more advanced than BTC.

Previously, NANO had another name, RaiBlocks (XRB). In 2.2018 RaiBlocks was renamed to NANO.

Some basic information about NANO is as follows:

Symbol: NANO.

Blockchain Platform: Blockchain NANO.

Type: Coin, Non-mineable.

Total supply: 133,248,290 NANO.

Circulating Supply: 133,248,289 NANO.

2 – What is Nano coin used for?

Used to pay for daily expenses such as rent, electricity, water, taxi, etc.

Used to pay for small value assets.

Used to make payments between businesses and customers.

3 – Outstanding advantages of Nano Coin

Compared to other platforms, it has no transaction costs in the blockchain network.

Transaction speed is 1000 times faster than Bitcoin.

Unlimited scalability.

Compared to bitcoin that consumes 330kWh for transaction processing, it is more energy efficient when processing transactions that consume only 0.001kWh.

4 – Does nano coin have potential?

Currently, it is a unique cryptocurrency (cryptocurrency) using multi-dimensional blockchain technology (block-lattice), users do not need to pay the costs of mining participants, nor do they need to waiting for information to be updated on the network’s ledger but the transaction time is still shortened.

It has potential or not, we need to wait for the answer from the community and large companies/organizations that accept the widespread use of Nano coin or not.

5 – Development team

The development team consists of 10 people, of which Colin LeMahieu is the founder and leader of the development team

Colin LeMahieu (founder & lead developer): for the past 10 years, Colin has acted as a software developer, currently pioneering core protocol development. Colin is interested in issues of physics, environmental sustainability and space technology.

Jack Shapiro (Ios developer): over 10 years, Jack runs Mobile, Wallet and products on Nano Core Team. Jack used to work for Square, Splash, Product Hunt

Troy Retzer (Community and Public Relations): a business consultant for the past 10 years who has worked for growing businesses

Tito Vecchipone: brings his rich imprints into graphic design, UI/UX design and creative direction for the development team in advertising and marketing. Also participating in the creation of technology startups in China fueled his patriotism with storytelling and visual communication. With Nano, Tito conveys all the exciting things about this technology and what it means for the future of money.

George Coxon (HR and partner manager): is Nano’s partner in the UK and worldwide, has been with Nano for many years and currently manages operations.

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