On the 10th of July, the cryptocurrency exchange BaltEX will incorporate Nano (XNO) into its listing. Originally introduced as RaiBlocks in 2015, Nano has distinguished itself as an efficient and lightweight cryptocurrency that supports secure, immediate transactions without any fees. This places it as a valuable asset in today’s digital economy, circumventing the challenges of traditional financial systems and many contemporary cryptocurrencies.
Nano employs a peer-to-peer platform that uses a unique block-lattice data framework. This structure enables users to transfer value directly to each other, eliminating the need for centralized intermediaries. Rather than using the common proof-of-work (PoW) consensus mechanism, Nano utilizes Open Representative Voting (ORV). ORV allows account holders to vote for representatives who confirm transaction blocks. This approach makes Nano an eco-friendly, energy-efficient alternative to PoW-based cryptocurrencies.
The Nano token, XNO, is designed for quick transactions, often achieving finality in under a second. This speed coupled with fee-less transactions (as representatives aren’t financially compensated), positions Nano as an ideal option for commercial payments and micro-transactions. Nano’s structure is based on a directed acyclic graph (DAG), which differs from traditional blockchain technology. This structure supports scalability and high transaction throughput (up to 1,000 tps) while maintaining integrity without the need for an energy-intensive mining network.
