Using an architecture called block-lattice, Nano allows each account to have its own blockchain, enabling instant transactions and zero fees. Transactions are conducted in real-time and unsynchronised from the rest of the network.
According to Nano’s developers, the cryptocurrency is ideal for peer-to-peer transactions because it uses minimal features to function. Initially launched in 2015 under the name Raiblocks and rebranded to Nano in January 2018, there are no miners on the network and it can run on low-power hardware.
“Nano is a crypto asset with real-world use cases that solves many of the problems with other digital currencies, like low transaction speeds and high power consumption,” says Feng Bo, Global Vice President at CoinBene.
“With Nano, the focus has been to provide simple, user-friendly solutions for a growing number of crypto holders to access Nano,” adds Troy Retzer, Public Relations at Nano Foundation. “We’re excited to introduce Nano to Coinbene’s user base and look forward to this next phase of growth.”
CoinBene is one of the largest crypto asset exchanges in the world, averaging US$4 billion (£3 billion) in transactions per month. In August, DasCoin listed on CoinBene, joining more well-known cryptocurrencies such as Ether, Bitcoin, Tether and Litecoin.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.