Nano 2018-03-21T08:49:35+00:00

what is nano price where to buy nano

What Is Nano?

Nano formerly known as Raiblocks is an exciting concept that has received a lot of interest ever since its launch. which offers Instant, fee-less transactions, there are a lack of miners present in the system, and instead of a blockchain, the project has chosen to use a block lattice
So, how are they able to offer fee less transactions? Well, it’s important to do a comparison between Raiblocks and current systems like Bitcoin.
Bitcoin is run by a blockchain, and the blockchain contains the transactions of everyone. When one sends a transaction, the transaction is sent to a memory pool, the transaction sits in the memory pool until a miner comes along picks it up, places it in their block and adds that as part of the blockchain when they perform their computations.

The difference

As you might have guessed, Nano does things a little differently. Nano designed their system in a manner to where each account is comprised of it’s own blockchain. All accounts combined make up the block lattice.
What are these individual account blockchains comprised of? When one makes a transaction, the transaction is a block in their own blockchain, if someone were to conduct an analysis on an account, one would see all transactions that took place for that individual on the Nano network. One can send funds in a unique manner. When one seeks to send a transaction across the Nano network, one would form a “send” transaction in their blockchain. Then, the person who is the recipient would have to create a receive block in their blockchain. The actions by both parties do not have to take place immediately and simultaneously. One person can create a send transaction and the other person can wait a few days and get around to creating their receive transaction and still be able to retrieve their incoming transactions.
Thus, these transactions are happening in an asynchronous manner. The process is somewhat similar to that of texting. You send your text message and want a response immediately. Yet, the person you sent it to, may respond within an hour, or much later. As opposed to a call where you either connect with the other person immediately when they pick up or don’t when they don’t answer the call.

How do they deal with Spam?

If there aren’t fees, this means that there might be abuse in the system, such as spam. Nano implements a proof of work system to deter and minimize potential spam. Proof of work is typically associated with Bitcoin and Ethereum mining but Proof of Work in Raiblocks is different. One’s
computer has to solve a cryptographic puzzle prior to the sending of the transaction.

Nano (XRB) Live Price:

Recent cryptocurrency news

  • Akoin crypto city

Akon To Found Own Cryptocurrency, Akoin

June 20th, 2018|0 Comments

The list of celebrity endorsements in the cryptocurrency world is continuously growing, much like the number of actual cryptocurrencies. Well now we can add another to both lists after Akon has announced he will be [...]

  • Blockchain Pokemon, Poketoshi Lets You Play Pokemon With Bitcoin

Blockchain Pokemon, Poketoshi Lets You Play Pokemon With Bitcoin

June 20th, 2018|0 Comments

Blockchain technology continues to open up new avenues, allowing developers to continuously improve and test new ways in which blockchain technology can be implemented. Well the most recent development is something called 'Poketoshi', which [...]

  • Bithumb hacked

Bithumb Freeze Operations and Send everything To Cold Storage after $30 Million Was Stolen in Hack!

June 20th, 2018|0 Comments

Over $30 Million in altcoins has been stolen after one of the largest cryptocurrency exchanges in the world, Bithumb was hacked today (Wednesday 10th June 2018.) In an effort to prevent any further thefts, the [...]

  • ABBC Airdrop!

Alibabacoin Foundation Releases Multi-crypto Wallet after Huge ICO Success

June 20th, 2018|0 Comments

The Alibabacoin Foundation is celebrating the historic release of their long-anticipated Multi-crypto Wallet with a massive airdrop event. The innovative team of blockchain specialists at Alibabacoin Foundation seek to maintain the success they have enjoyed [...]

Follow us on Social Media: