Nano (NANO) –Talking about Canoe Wallet, a cross-platform and open source wallet specially designed for Nano, it is easy to say the days of hacking is gone.
The wallet is an effort of numerous developers who are working day and night to see that perfection is achieved.
Interestingly, Canoe Wallet supports 160 different currency conversions and tackles hacking since it is an effort of numerous developers.
Canoe will soon include languages like Romanian, Bulgarian, China, Portuguese, among others, purposely to make it awesome. As open source as it is, more than 120 contributors are helping on the translation of the wallet to over 38 languages.
Nano (NANO) The Silent Crypto Making Loud Impact
While crypto lovers have centred there focus on Bitcoin, Nano (NANO) is quietly impacting the crypto world.
Formerly known as RaiBlocks, Nano is a cryptocurrency that has a blockchain for every account and every transaction has its block.
The architecture of the Nano network is called block-lattice. This allows the network to process an infinite number of simultaneous transactions thereby providing unbounded scaling capacities.
Climbing the Crypto Charts
Nano’s team released the Nano Node version 14.0 on June 11, 2018. The version was designed towards bootstrapping and reducing network usage.
The cryptocurrency which had been climbing the charts slithering was rebranded from Raiblocks (XRB) late in January and rose by 41%. At the time of the rebranding, NANO was trading at $18.84.
Nano has also been proven to have exceptional speed and was ranked the fastest payment among all cryptos on Binance. The cryptocurrency came in first, with the shortest block time confirmation of 3 seconds.
Nano was ahead of Stellar Lumens XLM at 5 seconds and Ripple XRP at 10s.
Overcoming Turbulence
Things have not been all smooth for Nano as on February 9, 2018, 17 million Nano were reportedly stolen from an exchange known as BitGrail.
The losses discovered at that time was worth about $187 million. Two days after the incident, Nano dropped 20% across exchanges. However, the cryptocurrency released the NANO’s mobile wallet on the 22nd of June, 2018.
Before the announcement of the mobile wallet, NANO announced via Tweet that from June 11 the famous hardware wallet, Ledger Nano S, would begin to support the digital asset.
The network also announced that the Nano Bug Bounty Program, the HackerOne Program was open to the public as at July 11th.
The network announced that they wanted the Nano community to able to contribute to the network’s security so the community members were encouraged to review protocol and wallet code.
A Noble Cause For Nano
However, despite the upgrades the Nano team keep making to the network, they found a use case that was beyond transactions.
Nano was used to begin a charity cause. It all started when a Reddit user named “Windows7733” made a post sometime last week about receiving 0.5 Nano in Venezuela.
Considering the fact that Venezuela is facing financial constraints at the moment and essential amenities are difficult to come by, the Reddit user announced that he used the crypto he received via donations on the platform to secure a month’s worth of food and medical supply for his family.
Conclusion
As at today, 1 Nano is $2.224211. However, transactions on NANO are free. The cryptocurrency charges zero transaction fees making it perfect for p-2-p sales, trading pairs, for fintechs to deploy. It is also ideal for regular buying of goods and services. No wonder it was an excellent choice for the Reddit user in Venezuela.
