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Rethinking the Global Digital Payment System with Nano

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Nano
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Nano is a highly ambitious blockchain project that aims to offer the ideal currency as a global medium of exchange for daily transactions. The project is a rebrand of the former RaiBlocks and one of the main reasons for the name change is, in fact, the network’s objective of mainstream adoption.

What’s in a Name?

The team behind Nano chose this name for the simple fact that it is easy to pronounce and will sound the same regardless of the language spoken. This was quite in tune with the goal of appealing to a wide base of users from all around the world.

The name also reflects the core features of the product it represents. Transactions on Nano are virtually instantaneous and do not cost a dime. In this regard, the name Nano seems suitable as it elicits thoughts of small or minute, a brief span of time, the least possible expense. It thus appeals to every type of user and all transaction sizes no matter how small.

RaiBlocks, the base platform that led to the birth of Nano, had an eventful 2017, especially in December. Its popularity gives Nano the perfect foundation for widespread adoption and growth.

The Advanced Technology behind Nano

What makes Nano particularly captivating is that it operates using an extraordinary blockchain approach. While the regular blockchain is essentially linear, Nano incorporates a lattice framework to enhance the efficiency of the system. Each account on the network runs on its own blockchain and belongs to a new generation of fast, feeless and minerless (FFM) digital currencies.

This design greatly reduces the time taken to confirm transactions and is, therefore, able to keep operational costs conveniently low. It also ensures limitless scalability, a target that has proven to be highly elusive for most of the popular blockchains.

A Revolution for Digital Payment Systems

The fact that Nano offers feeless and instant transactions on its network makes it the ideal choice for crypto traders. It also presents a worthwhile revolution for today’s costly and time-consuming payment systems. It is easy to make payments for recurrent bills like rent. Users can even pay for a cab or dinner using this simple method.

It is also the best choice for small payments like content subscriptions and digital asset rights. Retail outlets can also take advantage of these benefits for both online and in-store crypto payments.

Even though the rebrand was executed towards the end of January, the Nano ecosystem has maintained most of the familiar features users associated with RaiBlocks, at least for now. Wallet addresses still take the XRB prefix but in future will change to NANO.

The Futuristic Crypto Model

The original community and inherent value proposal of the project have contributed to widespread support and adoption for Nano. As a result, it has come a long way in a brief span of time. The system uses state of the art technology and has very few competitors in terms of speed and scalability. The model offers impressive transactional flexibility and has a real shot at dominating the Internet of Things space in the foreseeable future.

We will be updating our subscribers as soon as we know more. For the latest updates on NANO, sign up below!

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 own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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