Key metricsKey metrics
PricePrice$1.1482
Asset TypeAsset TypeCryptocurrency
StructureStructureFoundation
Project StatusProject StatusWorking Product
OwnershipOwnershipFree
SectorSectorCurrency
IndustryIndustryBlockchain
FoundedFounded1-May-2014
CountryCountryInternational
Key personKey personColin LeMahieu

Nano (NANO) Information{coin_name} ({symbol}) Information

Digital currency for the real world – the fast and free way to pay for everything in life.

Launched in 2015 by Colin LeMahieu as RaiBlocks, Nano is a low-latency payment platform that requires minimal resources; making Nano ideal for peer-to-peer transactions. Nano uses a DAG (directed acyclic graph) algoritm and each account has it's own blockchain and creates it's own proof of work for each transaction to prevent spam.

Team OverviewTeam Overview

Mica Busch
Infrastructure

Mica is a Control System developer for Residential and Enterprise markets by trade, self-taught programmer and deeply curious tinkerer at heart. He has been involved in cryptocurrency since 2011. Mica is responsible for our web infrastructure and development as well as creating our Android lite wallet.

Colin LeMahieu
Creator & Lead Developer

A software developer for the last 10 years, Colin founded RaiBlocks, now Nano, in 2014. He moved to the project full time in 2017 and is spearheading development of the core protocol. His interests include space technology, physics, and environmental sustainability.

Russel Waters
Lead Developer

Experience coding in the crypto space since 2013, Experience coding with C++ for much longer. Worked on various other cryptocurrency projects. Will be helping with the Core wallet development and protocol.

Roy Keene
Lead Developer
Zack Shapiro
iOS Developer
Devin Alexander Torres
Desktop Developer

A software developer with over a decade of experience building highly reliable software solutions for the publishing, travel, insurance, and e-commerce industries. He loves building fault-tolerant distributed systems and karaoke.

Troy Retzer
Communications & Public Relations

As a business consultant for the last 10 years, Troy has worked to grow a number of companies into successful businesses. His role in Nano is public relations, marketing and community management.

George Coxon
Operations & Partnerships

An early faucet user, George has been involved with Nano for several years. She now manages operations and partnerships for Nano in the UK and around the world.

Tito Vecchione
Design

Tito brings his background in graphic design, UI/UX design, and creative direction to the team. His experience in advertising and marketing, as well as helping build tech startups in China, has fostered his love of visual story telling and communication. Tito is excited to help Nano communicate what this exciting technology is all about and what it means for the future of currency.

Josh Kleiman
Legal

Josh is an experienced litigator and corporate advisor. Josh’s experience includes advising companies, entrepreneurs and individuals on litigation exposure, licensing deals, corporate organization and securities matters.

Brian Pugh
Developer

A programmer and engineer with a passion for hardware design, rapid prototyping and cryptography, Brian recently received his M.S. in computer vision from Carnegie Mellon. Brian is focused on non-protocol programming developments.

Austin Ramsdale
Community Management and Support

With nearly 20 years of experience in traditional brick-and-mortar retail and ecommerce experience, Austin understands the customer experience, lifecycles, and POS & Platform integrations. You can typically find him helping users in the support channel on our official Discord server.

OrganizationsOrganizations

Nano Foundation

Santa Monica

Questions and AnswersQuestions and Answers

What is Nano?
Nano is a trustless, low-latency cryptocurrency that utilizes a novel block-lattice architecture, where each account has its own blockchain and achieves consensus via delegated Proof of Stake voting. Offers feeless, instantaneous transactions, as well as practically unlimited scalability, making Nano ideal for peer-to-peer transactions. The network requires minimal resources, no high-power mining hardware, and can process high transaction throughput. To date, the Nano network has processed over fourteen million transactions with an unpruned ledger size of only 7.5GB. For a more in-depth look at Nano, please read our whitepaper
How does Nano work?
Unlike conventional blockchains used in many other cryptocurrencies, Nano uses a block-lattice structure. Each account has its own blockchain (account-chain), equivalent to the account’s transaction/balance history. Each account-chain can only be updated by the account’s owner; this allows each account-chain to be updated immediately and asynchronously to the rest of the block-lattice, resulting in quick transactions. Since blocks can only be added by each account-chain’s owner, transferring funds from one account to another requires two transactions: a send transaction deducting the amount from the sender’s balance and a receive transaction adding the amount to the receiving account’s balance. Refer to sections three and four of the whitepaper for a more thorough look at how Nano works.
What are the advantages of Nano?
Zero Fees Because the protocol is incredibly lightweight and running a node costs next to nothing, Nano transactions are processed with no fees. One transaction fits within a single UDP packet, and transactions are handled asynchronously, eliminating any block size issue. Instantaneous Transaction Speed Wallets pre-cache the anti-spam Proof of Work for the next transaction once a transaction is sent, making transactions instantaneous, as both sides have the proof of work ready to go. Once a transaction is seen by a node, a rapid confirmation process takes place among representatives resulting in finality within seconds. Scalability Transaction lookups scale with the logarithm of the data set size logNO with a tree-like structure or O1 if they are based on a hash table. To get an idea of how this scales, if it was a simple binary tree with 1,000 entries it would take 10 lookups. With 1,000,000 entries it takes 20 and 1 billion would take 30. Pruned nodes only need to keep the latest block of each account-chain, even further reducing lookup time and system resources.
How does Nano achieve consensus?
The voting process is balance-weighted. Every account selects the wallet address of a representative node. This is just a node that is configured to stay online and be ready to vote. When an account selects their representative, the vote weight of that account is increased by the balance of the source account. Votes are weighted by account balances. Those who have more funds in the system are inherently incentivized to keep the system honest; a dishonest system would make their investment worthless. Additional transactions don’t contribute to securing the network; transactions settle individually within a few seconds regardless of other network activity. Because of this, there’s no reason to incentivize generating activity. A list of current representatives, sorted by voting power, can be found here. Any wallet, regardless of balance, can be a representative. A good representative is always online to vote.
Is Nano vulnerable to attacks?
Nano, like all decentralized cryptocurrencies, may be attacked by malicious parties for attempted financial gain or system demise. In section five of the whitepaper, we outline multiple attack scenarios, the consequences of such an attack, and Nano protocol for dealing with each attack.
What are some of the long-term goals for Nano?
To see the protocol itself set up as an internet standard that’s infrequently touched and managed by a diverse group of people from different geopolitical areas and more specifically it’s not controlled by me or any small group of people. Any such group should not add configurable network parameters to avoid political issues like the block size debate. Add IPv6 multicast to transaction broadcasting: announcing a transaction to everyone in the world who wants it. Have existing payment-providers accept NANO much like they accept fiat currency today. To give the large group of people who do not have access to banks the assurance that payments they accept are secure at the point of exchange.
How does Nano compare to other cryptocurrencies?
vs. Bitcoin Bitcoin organizes transactions into blocks with an average processing time of 10 minutes per block. For a transaction to go through, it must be included in a block, and that block must be mined. To be safe, transactions are usually not considered complete until a few additional blocks are added to the blockchain. Because of this, Bitcoin transactions typically process on the order of hours. With Nano, each individual transaction is a block, and each block is able to be processed instantly by the network. The limit to the speed of the transactions is primarily network-bound; transactions are processed as fast as they can be propagated throughout the Nano network. Bitcoin’s security is derived from hundreds of terawatts of computing power computing power computing hashes. In order to perform malicious actions, such as a double spend, on the Bitcoin blockchain, an attacker would have to accrue at least half of the network’s computation power, which is both financially and practically infeasible. Nano secures it’s ledger via delegated proof of stake (dPoS). In order to perform malicious actions on the Nano block-lattice, an attacker would have to possess >50% of the online voting power. Such an attack would spoil their large financial investment, and as such not an attractive option. The dPoS of Nano consumes minimal energy, allowing full-nodes to run on inexpensive, low-power hardware. vs. IOTA IOTA’s consensus is decided by Proof of Work (PoW) stacking of consecutive transactions, while Nanos is achieved by voting on conflicting transactions. PoW stacking requires maximizing the continuous network hash rate which is an expense that is inherently paid in electricity by users of the network. Because Nano doesn’t rely on constant network PoW to maintain security, the operating costs of the Nano network are much lower. While IOTA’s Tangle and Nano block-lattice are both DAG data-structures, offering instantaneous and feeless transactions, the way they operate are significantly different. With IOTA, two “tip” transactions must first be discovered via a probabilistic algorithm, such as a Monte Carlo Random Walk; a good tip is a recent transaction and expands the tangle in a “forward” moving direction. The idea is that if everyone uses similar tip selection algorithms, recent valid transactions will be approved by newer, valid transactions. Once a transaction is sufficiently deep in the Tangle, it is considered confirmed. Nano block-lattice is an organized structure that doesn’t require “tip” discovery. The last block on each account-chain is easily found/cached, and account transactions can only be appended, like a conventional blockchain. For typical transactions, this transaction is instantaneous and doesn’t require any additional blocks for a transaction to be considered confirmed. IOTA’s vision is machine-to-machine communication, commerce, data storage and to become the premier protocol of IoT devices. Nano focus is on reliable, quick peer-to-peer payments and rapid exchange transfers for arbitrage. vs. Ethereum Ethereum is an alternative or separate technology from Nano. The entire concept of programs executing on top of the Ethereum Virtual Machine is something Nano doesn’t attempt to replicate. The part we focus on is an efficient transfer of value i.e. purely a currency, so while Ethereum requires miners and electricity input which is paid for by devaluing the ETH currency, Nano has no fees and thus no associated devaluing while operating (total currency supply never increases).
Where is Nano traded?
Nano is currently traded on several exchanges under the ticker symbol $NANO CoinMarketCap Markets for NANO The development team is actively working to add Nano to additional exchanges, with the goal of Nano ultimately trading on every major exchange. Unfortunately, the Nano team ​is not permitted to discuss ​potential listings on additional exchanges until Nano is officially listed. The Nano team will announce each new exchange listing as soon as they occur.
What are Nano Units?
Currently, the NANO ticker represents 1 million nano (Mnano), which is 10^30 raw, the smallest unit of Nano (equivalent to a satoshi in bitcoin) Nano smallest unit is 1 raw, while 1 Gnano is the largest. 1 nano is 10^24 raw. NANO is the ticker used on exchanges/software to trade Mnano. 1 NANO does not equal 1 nano. 1 NANO currently equals 1Mnano. Name dividers have been put in place to notate the factor of raw units in SI notation: 1 Raw 1 unano 1 mnano 1 nano 1 knano 1 Mnano 1 Gnano 100 103 106 109 1012 1015 1018 1021 1024 1027 1030 1033
How does Nano compare to Ethereum
Ethereum is an alternative or separate technology from Nano. The entire concept of programs executing on top of the Ethereum Virtual Machine is something Nano doesn’t attempt to replicate. The part we focus on is an efficient transfer of value i.e. purely a currency, so while Ethereum requires miners and electricity input which is paid for by devaluing the ETH currency, Nano has no fees and thus no associated devaluing while operating (total currency supply never increases).

TechnicalTechnical

Key metricsKey metrics

Source Code Repositories

nanocurrency/nano-node 2587 Stars 59 Contributers 126 Open Issues

Nano is a cryptocurrency

nanocurrency/nano-docs 26 Stars 15 Contributers 8 Open Issues

Documentation for the Nano protocol

nanocurrency/nano-work-server 21 Stars 5 Contributers 0 Open Issues

A dedicated work server for the Nano cryptocurrency

EconomicsEconomics

Tradeable CoinsTradeable Coins
133,248,289 (100% of total) ({tradeable_of_total} of total)

Exchange Markets

ExchangeExchange MarketMarket PricePrice DiffDiff Volume 24hVolume 24h SpreadSpread Spread $1kSpread $1k
Binance NANO/BTC $1.1475 -0.07% $1,974,959 0.21% 0.32%
Binance NANO/USDT $1.1509 0.23% $635,367 0.35% 0.96%
Binance NANO/ETH $1.1480 -0.02% $182,224 0.26% 1.1%
Binance NANO/BNB $1.1474 -0.07% $106,652 0.26% 2.6%
Gate.io NANO/USDT $1.1450 -0.28% $2,250.77 3.3% 29%
Gate.io NANO/BTC $1.1002 -4.2% $416.76 35% 38%

Latest Nano NewsLatest Nano News

Nano on Twitter

This week we are taking a look at the ever increasing #decentralization of the $NANO network, we share @wirexapp CEO Pavel Matveev's presentation from our UK #Nanomeetup and round up the rest of the news from the Nano ecosystem. https://t.co/AUe22pNRET

Nano on Twitter ReadRead 

BrainBlocks on Twitter

Our team is proud to announce that our new wallet has left Beta and is now ready for prime time! Thank you to everyone who provided us feedback during Beta. We are excited about the future of our platform and we hope that you will join us https://t.co/erzrBdIxtX!

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Binance on Twitter

#Binance Will Update @nano ( $NANO) Deposit Addresses for All Users https://t.co/rxsoNL7V0n…

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Nano on Twitter

.@wirexapp CEO @matveevp spoke at our recent UK #Nanomeetup about how the popular #digitalcurrency payments company plans to grow into new markets and continue to bring $NANO to the masses. https://t.co/xSSL0IPAhD

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TheNanoCenter on Twitter

Another amazing project funded at The Nano Center https://t.co/5WzyntMH71 Campaign is underway now! Thanks to all who donated.

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Nano on Twitter

The first #cryptocurrency card game has arrived: NanoCards. Challenge a friend to a game while introducing them to the fast and feeless nature of #Nano! Check it out ?? https://t.co/P7dNIqRsaf

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Nano on Twitter

Nano remains robust by being so efficient. See how #Nano offers natural economic incentives for running a node and participating in the network's security. https://t.co/dbl0oSlw0G… https://t.co/IRPJ7BtHPw

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Nano on Twitter

It's a packed update this week with plenty of exciting developments from the #Nanocommunity. @NatriumIO announce #NFC support, @TheNanoCenter unveil a new project and @Kappture1 launches their representative node on the $NANO network. https://t.co/th0qCTxyc7

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Nano on Twitter

Welcome to the network @Kappture1! Users that want to help #decentralize the $NANO network in a couple of minutes can follow this easy video guide: https://t.co/mtB6D7yYpy… https://t.co/P6Gt2FfUHr

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Natrium on Twitter

Natrium v2.0.10 for Android is out! It brings the ability to read NANO URIs via NFC, smaller app size and few bug fixes. @nano $NANO #cryptocurrency #cryptowallet #Crypto… https://t.co/YohLpIxBef

Nano on Twitter ReadRead 
This information is provided AS IS and is not adviceThis information is provided AS IS and is not advice. May contain errors or omissions. Please always do your own research before trading.May contain errors or omissions. Please always do your own research before trading.
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