It has been a really long time since the cryptocurrency industry was first introduced and honestly, the industry has had a wonderful journey so far by being able to lure in potential investors from all across the globe and managing to make a name for itself in the global marketplace. Not just that, as mentioned, the industry has had a surge in its overall growth and popularity recently, thus helping it to reach greater heights!
Having said that, I believe a majority of you are already familiar with the basics of the industry and I am sure that you are eagerly waiting for us to start with what we have with us today but, for some of you who are new to this whole thing, it’s best if we have a brief look at the industry first
To begin with, cryptocurrencies as the name suggest is nothing but a form of online or virtual currencies that can easily be made use of for a variety of purposes including the purchase and sale of goods and services as well as for the purpose of trade and exchange over cryptocurrency exchanges available online.
In other words, crypto is a blockchain-based platform that is known to be decentralized to its very core. Being decentralized, the crypto world becomes more than capable of stepping outside the overall control and jurisdiction of central authorities and can work freely without any unnecessary government interferences as well.
Also, when the industry was first introduced there were not many currencies to choose from and honestly, not many people were looking to be a part of it either as people back then were very skeptical with respect to the return on investments they could expect as well as the safety of their money too.
That is surely not the case anymore as today, we have pools of currencies available for investors to choose from, with newer ones coming in with each passing day and tons of new investors joining in every hour.
Source: Adobe Stock
Speaking of a lot of currencies available today in the marketplace, some of the most popular ones worth investing in includes Bitcoin, Cardano, Baby Doge, Ethereum, Dogecoin, Polkadot, Binance Coin, PancakeSwap as well as EverGrow Coin to name just a few of course.
In addition to this, it feels rather interesting seeing such a rapid growth of the industry over the past couple of years and so, let’s look at some of the major contributing factors responsible for this huge success including portability, high-profit margins, volatility, negligible response time, convince it offers, intuitive nature as well as ease of use of course.
Being volatile, it is important for you to be aware of the fact that, it is not always possible to predict the price changes and act accordingly as the price fluctuations in the crypto marketplace are almost immediate, thus leaving no time to plan. Therefore, whenever dealing in online currencies, keep in mind that, if the industry is providing you with an opportunity to earn huge profits and make quick money, if not done right, you could also end up having significantly huge losses as well.
Not just that, as per the chatter amongst some of the leading experts on the field, it has come to our notice that, crypto is rapidly progressing towards completely revolutionizing the global payment system and from where I stand, it looks like it has already started to do so as many merchants and businesses have started accepting crypto as an official mode of payment from their customers.
Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, Nano. To know more, I suggest you read further!
Everything to know about Nano (XNO)
Nano or as commonly referred to as XNO is simply known to be billed as “digital money for the modern world” and is nothing but a lightweight cryptocurrency that is said to be designed in order to facilitate practically instant as well as secure payments, that too without any sort of fees, thus addressing some of the major limitations of both modern virtual currencies and legacy financial infrastructure.
In other words, Nano is a virtual currency that is said to describe itself as “ a low latency payment platform that requires minimal resources.” Not just that, each address of Nano is known to have its very own blockchain and users on the platform can easily provide the computational power required in order to verify their own transactions, thus allowing transactions to be processed without fees as mentioned previously.
Before moving any further, it is probably worth noting that, Nano is known to have been founded by Colin LeMahieu, who is an extremely experienced software developer and engineer with tons of experience working for prominent tech companies, including AMD, Dell as well as Qualcomm.
Also, XNO is said to be the native utility token of the Nano platform, which as a matter of fact can be used for a variety of purposes on the platform itself. On a fairly similar note, the overall development of the project began back in 2014 under the name RaiBlocks, while the coin (then known as XRB) launched the following year through a public faucet which then allowed users on the platform to claim small amounts of XRB after completing a captcha challenge.
In addition to this, anyone with access to a phone or a computer could solve captchas, and be rewarded with RaiBlocks. Apart from this, the number of XRB people who received per solved captcha is said to vary over time. However, RaiBlocks (XRB) was later rebranded to what we know it to be today, Nano back in January 2018.
The reason behind choosing a new name was to better represent the overall simplicity and speed that the project has to offer to its users. Basically, Nano is a peer-to-peer platform that is known to make use of a unique block-lattice data structure in order to allow users to easily transfer value to one another, that too without having to rely on centralized intermediaries.
Furthermore, unlike several other platforms which typically makes use of the combined proof of work of a massive mining network in order to achieve consensus, Nano instead uses a system known as Open Representative Voting (ORV), which sees account holders vote for their so-called chosen representative, who then work to confirm blocks of transactions securely.
This ORV is known to make Nano extremely energy efficient, thus positioning it as a more environmentally friendly alternative to proof of work-based virtual currencies.
Not just that, in November 2021, Nano adopted a new ticker and a standard symbol known as XNO and X in order to bring Nano to the real world and to comply with the globally recognized standards of the International Organisation for Standardization (ISO).
Moving further, what truly makes Nano unique and different as and when compared to others in the marketplace is that, as talked about previously, Nano is said to be designed to be fast. So fast, in fact, that most Nano transactions are said to reach absolute finality within less than a second or so as and when compared to several minutes or even longer for many other major virtual currencies out there.
This speed makes Nano more than suitable for commercial payments since merchants and retailers no longer need to worry about delays in transactions when accepting payments.
Lastly, all of these features are enabled by its unique architecture and unlike many virtual currencies that are built on top of a distributed ledger known as a blockchain, Nano is instead known to be built around a similar ledger technology called a directed acyclic graph (DAG).
The said structure is extremely reliable and can scale to support about 1,000transactions per second with the right hardware of course, that too without needing an energy-intensive mining network to maintain its integrity, thus positioning nano as an eco-friendly virtual payment option.
Now that we have talked much about Nano, some of you must be wondering, whether or not it is a good idea to invest in the platform? If that’s the case, then let’s find out, shall we?
Investing in Nano (XNO)
Source: Upto Brain
As of today, the price of Nano is about 2.34 US dollars with a twenty-four-hour trading volume of 226,694,594 dollars. Not just that, in just the past twenty-four hours, the value of Nano has gone up by 11.71 percent, and with the current market cap of 311,731,932 US dollars, XNO is currently placed at#155 position as per the CoinMarketCap rankings.
Also, it is worth mentioning that, the current circulating supply of Nano is 133,248,297 XNO coins, with themaximum lifetime supply of the token being about 133,248,297 XNO coins. In just the past week alone, the price of the platform has fallen by 17.70 percent.
Reading so far, you must have gotten a fair understanding of the platform and by now, you should be able to figure out on your own whether or not investing in Nano is the right thing for you to do. Seeing what it has to offer when combined with its performance in the recent past as well as its plans for the near future, I certainly believe that Nano can prove to be a profitable investment shortly, which is likely to provide you with higher returns and it is a possibility that your current investment may increase in value. But again, nothing can be said for sure!
As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, It is very important for you to understand the fact that just like any other currency in the crypto marketplace, Nano does have its own risks as well and you should invest only if you are willing to take those risks and bear any and all losses if at all necessary.
If you are wondering,where can you buyNano? Let me help you with that. Currently, Nano is available on all major crypto exchanges but, some of the popular exchanges that have XNO listed on them include Binance, OKX, Mandala Exchange, Huobi Global as well as DigiiFinex to name a few.
In conclusion, what are your thoughts on Nano? Do let us know in the comments area below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!
Also read: Golem: Everything you need to know