All About Nano (XNO), A Digital Money for the Modern World

• 1 Nano, a feeless, scalable, low-latency, and environmentally friendly digital money for the modern payment system. 
• 2 The cryptocurrency was introduced to mitigate challenges with Bitcoin (BTC) including poor scalability, power-inefficient, and high latency. 
• 3 Nano’s XNO coin has a maximum supply of 133,248,297 XNO and a circulating supply of 133,248,297 XNO. 

Since the release of Bitcoin, the government-backed, and traditional currencies and financial systems shifted to modern payment systems. However, increased transaction times, limited network scalability, and high energy consumption raised questions about the practicality of BTC. To downplay such concerns nano, a cryptocurrency with a novel block-lattice architecture was introduced to the crypto world. 

What is Nano (XNO)? 

Nano is a scalable, environmentally friendly, feeless, and low-latency cryptocurrency that enhances many of BTC’s core properties. The decentralized peer-to-peer cryptocurrency system for payments permits cost-effective and fast transactions on the ledger. 

The project was started in 2014, by Colin LeMahieu, under the name RaiBlocks (XRB), and rebranded to Nano in January 2018. Better representation and simplicity is the main reason behind rebranding. 

In addition to this, the platform works with the Open Representative Voting (ORV) system, allowing account holders to vote for a chosen representative, who further helps in confirming the blocks safely. 

The Need For Nano Cryptocurrency 

The cryptocurrency is designed to be fast, reaching absolute finality within a minimum times of seconds. The network has the potential to scale up to 1,000 transactions per second (TPS) without requiring any energy-intensive mining network to maintain integrity. 

In addition to this, the coin also addressed several issues in BTC’s protocol which are as follows:

Energy Consumption: The energy consumption of the BTC network is estimated at around 67.26TWh per year, 570kWh per transaction. 

Scalability: the blockchain stores a limited amount of data in each block, allowing the system to process many transactions per second, making spots in a block a commodity. 

Latency: the average confirmation time varies between 10 to 300 minutes and few BTC services require more than one confirmation for final settlement. 

Exploring The Rich Ecosystem

Nano constructs its value from its technical capacity, technology, and utility. Apart from this, network speed and instant finality for transactions make it unique in the crypto world. Gaming, merchants, merchant solutions, and wallets make the ecosystem richer. 

Merchants: under the merchants’ platform, individuals can use the XNO coin around the world online as well as in shops. From basic necessities of groceries and food to luxurious items like Jewellery and watches, XNO is accepted everywhere.

Gaming: the gaming platform offers a variety of games for community entertainment. Player Killers’ Exchange, Nano BrowserQuest, Unreal Nano, and Nano Cards are some popular sites to visit.

Merchant Solutions: Merchant Solutions permit individuals to pay XNO for applications and services. NOWPayments, Onramp.money, WeNano Business, and Nault and Simplex are major services offered. 

Wallets: The wallet platform in the Nano ecosystem helps users store XNO safely. Nault, Nautilus, WeNano, and Cake Wallet are some wallets offered by the network. 

How and Where to Buy XNO Coins? 

XNO coin has a total supply of 133,248,297 XNO with a circulating supply of 133,248,297 XNO, showcasing 100.00% coin supply. The coin is available on some of the top cryptocurrency exchanges including Binance, OKX, Bybit, BingX, and Gate.io. 

Here are a few steps to purchase XNO coins systematically. 

• Search and selection of the compatible cryptocurrency exchange initiates the purchase process. Accessibility, regulations, features, ease of use, and security are a few of the factors to consider while selecting a crypto exchange. 
• Account creation and verification is the next step and requires a few personal details such as email address, nationality, photo ID, etc. 
• The next step is to deposit funds into the account which can be done using direct bank transfer, cards, and cryptocurrency. Here, considering platform compatibility with the payment method is important. 
• Entering the purchase amount, coin from the list, and trading pair is the final step. The purchased coins can also be transferred to supported wallets like Trezor, Ledger, NanoVault, Math Wallet, etc. 

What to Do With the Coins? 

Just like fiat currency, XNO ensures 100% of the value transferred directly to the wallet which can be used in several ways. 

From remittances to microtransactions and banking infrastructure to online and in-store payments, XNO is accepted everywhere. In addition to this, the coin can also be used for Foreign exchange and trading. 

Conclusion

Nano, an environmentally friendly, feeless, and low-latency cryptocurrency, offers users  with a high range of utilities including remittances, microtransactions, banking infrastructure, online and in-store payments, and Foreign exchange and trading. Basically, the network addresses BTC’s issues and operates with the ORV system. XNO is available on Binance, OKX, Bybit, BingX, and Gate.io.

FAQs

What are the advantages of Nano payments? 

Nano network is easy to use and is more sustainable, offering feeless and instant. 

Why doesn’t the network have an initial coin offering?

The team behind the network decided to offer coins as organically and fairly as possible using a faucet system that requires individuals to solve captchas.

Where can I buy XNO coins? 

XNO digital asset is available on some of the leading cryptocurrency exchanges including Binance, OKX, Bybit, BingX, and Gate.io. 

Where can I find Nano wallets?

The Nano ecosystem offers a wide variety of cryptocurrency third-party wallets with each offering a unique balance between security and functionality.