One of the significant issues affecting popular blockchain technologies such as Bitcoin is the subject of scalability. Blockchain technologies are created in such a way that every block on the blockchain can only handle and store a limited volume of data or information. For instance, Bitcoin’s block size is limited to 1MB. However, with the ever-increasing demand, users are forced to live with higher transaction fees and times.
Nano cryptocurrency as technology brings a new breath of fresh vibrancy in the cryptocurrency space offering a novel design architecture that can provide instant transaction times with unlimited scalability.
What is NANO?
Formerly known as RailBlocks, NANO is a virtual currency that is based on DAG and block-lattice data structure. Nano cryptocurrency is an advanced technology that is not similar to any other cryptocurrency in the market thanks to its advanced technology.
Some of the features of NANO include the elimination of miners and mining on its platform and allowing digital instantaneous and zero-rated settlements.
Nano’s Block-lattice Architecture
Nano cryptocurrency has a single blockchain for every individual account that is controlled by the private key belonging to the primary account. Each blockchain is duplicated to all the peers in the platform. This process of duplication is known as a block-lattice.
Using its send and receive blocks, balances are transferred between blockchains where the send blocks decrease the balance of the primary account and identify the delta as a receivable using an account number. As the process continues, a receive block is created by the receiving account which increases the amount of money in the account using the delta.
Using the novel Directed Acyclic Graph or DAG which is based on the block lattice architecture, Nano ensures each user is in possession of their blockchain. A user blockchain is tasked with the responsibility to record account balances instead of tracking transaction amounts like in other blockchain technologies.
This method adopted by the Nanotechnology assists in allowing the use of database pruning that helps less absolute storage requirements. Also, every user blockchain is tasked with the duty to reflect information that is related to the user’s balance record or history, functionality that can only be updated by the owner.
One of the features that make the lattice architecture stand out is the ability of an individual’s blockchain to be updated to the main block lattice asynchronously.
Since absolute control over individual blockchains is vested in unique users, distributed agreement protocols that are responsible for the decision of the shared global state of the ledger are not a requirement. Such distributed agreement protocols include proof-of-work or POW and proof-of-stake also known as PoS.
The Future of Nano Technology and Cryptocurrency
In today’s world and the cryptocurrency/ blockchain ecosystem, there is no shortage of innovation as constant news of upgrades, and changes meet the world.
At the moment, Nanotechnology might be the most innovative technology the cryptocurrency market has ever witnessed. Thanks to its novel block-lattice architecture, Nano has managed to revolutionize the cryptocurrency space by building a truly decentralized network of instant and free transactions.
Going by the current progress, the Nano project has managed to accomplish remarkably; it is safe to say that the future is bright for Nano coin.
XRB Token and Price Prediction
XRB is the default cryptocurrency used by NANO that has been recording surprising growth rates over the past seven days. The coin efficiently recorded a growth rate of about 90%. In the seven day duration, XRB maintained impressive price surges concluding the week with a flattering performance.
Currently, the Nano coin is being exchanged at $3.18 with a market cap of over $420 billion US dollars, and a trading volume of about $47 million in the span of 24-hours.
XRB’s $3.18 price looks like a reasonable price, but it falls behind its all-time high rate of $30 that it clocked back in January. If cryptocurrency market rides the ‘heavy bulls’ at the end of this year, as anticipated by many crypto experts, Nano coin‘s price will also get appreciated. Still, it is hard to tell that the cryptocurrency will reach its all-time high this year.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…