Nano (NANO) –Crypto currencies are no doubt, a better way of meeting financial pain points by leveraging existing and viable technologies.
Though high-in-demand currencies such as Ethereum and Bitcoin top the chart and are holding enviable positions in market capitalization platforms, there are feelers that their supposed scalability is suspicious.
There are other currencies that have not come up to public eye as the latter had done. Nano falls into this category and the currency is literally bringing itself from the mud of crypto oblivion where it had been placed for some time.
Mere mention of the coin might not elicit positive reaction but investors who are in tune with current dictates in the crypto sphere won’t waste more time before delegating funds towards acquisition of the coin. Why is this so? The sleeping giant, Nano, is just re-tuning to its hay days.
Nano (NANO) – Better Variant to other Networks
Users have often being fed with half-baked truth of exigencies on the Bitcoin blockchain. The year 2017 saw the platform recording massive hitches that affected transactions. This downside in addition to others previously accounted had formed basis for development of over 1,600 crypto currencies with more still coming.
Thus, these currencies were patterned to solve Bitcoin’s downsides.
Out of these lots, Nano stands out of the crowd. It was not meant to focus only on these issues nor supplement Ethereum’s DApps that suffered drawback after many investors ported to the platform.
Nano (NANO) is instead looking at transactions with the aim of reducing exorbitant cost of blockchain transactions.
Nano (NANO) is Picking Up
This is perhaps the best news in recent years and investors’ heart will make merry as they are set to hit goldmine when Nano (NANO) stabilizes. For some months after its launch, the currency had been subject of criticism haven been in the red for long.
The third quarter of 2018 was its defining moment as it recorded silent strides that have placed it on the 32nd position of market capitalization. Nano (NANO) didn’t achieve this in an eye’s twinkle but had been setting measures in place to this end.
While many currencies were hitting the red, the sleeping giant was reawakening from its slumber and had soon pitched itself in better positions in market capitalization platforms.
Power in a Name
Nano (NANO) witnessed massive inflow of investors soon after its rebirth. Haven operated under the auspices of Raiblocks (XRB), Nano’s (NANO) team had sought a name-change. The end-product was Nano (NANO) and soon after its new name was unveiled in January 2018, the currency had positive turnover amounting to about 40% in its market value.
Bitcoin’s Drawbacks – One of the Reasons for Nano’s (NANO) Boom
Nano (NANO) from the onset had wanted to create unique of decentralized platforms and thus, disrupting current formations posed by Bitcoin. It succeeded in having in-roads to solving latency and scalability downsides of Bitcoin.
The most significant point of Nano’s (NANO) return to its past glory was removal of conventional mining. Another pain point solved by the currency that had coasted its victory over similar currencies was its zero-fee formation. Investors with futuristic-perceptions will certainly align with a currency that offers soft-landing when compared to existing ones with high fees.
Thus, Nano’s (NANO) low transaction fees had endeared investors to it and this development led to multiple funding that increased its market capitalization. Its payment system working on peer basis will usher in micro payments and immediate checkouts in offline and online stores accepting it as payment.
Binance Representation – Boost to Nano’s (NANO) Restoration
The year 2018 had been open heavens for Nano (NANO) and the icing on its cake was representative tag taken upon by one of the most populous exchange – Binance.
Perhaps buoyed by recent success recorded by the cryptocurrency, Binance had taken on the position of Nano’s representative and had gone on to rate it as being one of the scalable currencies traded on its exchange.
Nano Received Scars from Bitgrail
In the light of Nano’s (NANO) gradual return to its previous spot on the crypto sphere, mention must be made of the murky water it had fallen into.
Before Binance opted to accept it, Nano (NANO) had been available on the Bitgrail exchange. There was immediate turn of tables as Nano’s (NANO) pack of cards fell before its eyes.
Bitgrail was hacked in the wake of 2018 and the Italian exchange lost huge chunk of funds to hackers with Nano (NANO) bringing up the rear with the loss of 17 million of its currency valued at about $190 million USD.
It was expected that such loss might lead to Nano’s (NANO) fold but it scaled through the trauma and is anticipated to be formidable with Binance than it might have been with other exchanges.
Importantly the lawsuit filed against Nano team on this hack issue has been withdrawn, this is another major boost for the cryptocurrency.
Nano’s (NANO) Developers – Reigniting Extinguished Flames
When considerations are made on Nano’s (NANO) recent bounce-back to the crypto sphere, accolades should be given to its developers working round the clock to restore its past glory.
The developers had been able to acquire commission-free trade wallet, NanoWallet from BrainBlocks. They had also played great roles towards commission-free transactions and had created mobile devices for mining.
The latter is expected to be seamless by facilitating mining from devices. In all, Nano’s (NANO) quest to reclaim its lost mandate is paying off; especially at the moment when partnerships and low-transaction fees are made available on the platform.