What is Nano (XRB) and Why I’m Invested in it - Nano Price Prediction
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Nano brings an extremely unique blockchain design into the crypto market, as well as some groundbreaking processing speeds that could turn heads. Previously known as RaiBlocks, rebranded to Nano in January 2018.
Recent growth although market has been down, rumors of being added to Coinbase.
Rather than relying on a single central blockchain, which with an open-source network often means needing to reach a massive amount of people to achieve consensus anytime something big is about to happen with the network (e.g., a software or hardware upgrade), Nano sports a block-lattice blockchain. In other words, each user has their very own blockchain that they can control, meaning there's no large consensus that needs to be reached... ever. Because each account has its own blockchain, the network should, in theory, be rapidly scalable without impacting performance.
Nano is capable of processing an incredible 7,000 transactions per second, albeit hardware upgrades in the near to intermediate future are expected to push this figure even higher. Relatively speaking, Visa can process in the neighborhood of 24,000 transactions per second, meaning Nano is closer than any other cryptocurrency at present to the payment processing kingpin. By comparison, bitcoin maxes out at a mere seven transactions per second.
It is worth pointing out that because of the setup of Nano's blockchain, it requires a peer-to-peer payment to be broken down into two separate transactions: one where the sender removes money from their account, and another where the receiver adds the funds to his or her account. It may sound cumbersome, but it's lightning-fast and, perhaps best of all, free.
The downside? Nano doesn't have any major partners as of yet. However, with these processing speeds, it's just a matter of time.
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Disclaimer - Thinking Crypto and Tony Edward are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This channel and its videos are just for educational purposes and NOT investment or financial advice.
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