Is Nano [NANO] coin the next big thing to look out for in the crypto market?

Ashmita Dutta

Nano [NANO] crypto coin despite holding the 37th ranking in the crypto list is gradually being embraced by the crypto enthusiasts. It has just been two months that Nano [NANO] cryptocurrency experienced the massive BitGrail hacking. In the unfortunate event, Nano [NANO] tokens worth 190 million dollars were stolen from its network. According to a report by BCFocus, an exchange platform is launched by Nano [NANO] earlier in June for the music lovers.

Following it, Nano [NANO] cryptocurrency experienced another drastic incident when the digital currency lost 90% of its valuation. However, despite all the downs encountered by Nano [NANO], there are reasons for accepting the coin as a keeper. Previously called RaiBlocks [XRB], the primary reason for the crypto enthusiasts to turn their attention towards this digital token lies in its efficiency and simplicity.

Nano [NANO] transaction fees
Of late, Nano [NANO] crypto token is making news and being accepted since it promotes zero transaction fees. Irrespective of the amount that is involved in the payment procedure, the processing is conducted free of costs. Each time, transaction is conducted using Nano [NANO] digital tokens, the payment is equal to the amount received without any reduction for fees.

The common complains that emanate from the crypto industry leveraging blockchain technology is the time consuming transaction process, slow network time. Blockchain technology also encounter issues like traffic jams and scalability problems. Herein, comes the role of Nano [NANO] coin to address these issues by providing uncomplicated and useful solutions.

These solutions provided by this particular digital currency help to rightfully address issues of scalability. Nano [NANO] is utilising a protocol known as block lattice which is designed on the private key of the accounts of the users. Here, replication of the Nano [NANO] blockchain occurs among all the accounts which resolves all the problems of traffic jam and others.

The coin does not show the need for having the protocol of Proof of Stake or even Proof of Work. The digital token and the block lattice establish scalability wherein modification of account balances takes place with the indication of the user. This is accomplished by receiving and sending blocks at the time of transactions. This, indeed, serves as a significant reason to regard Nano [NANO] token as a keeper of 2018.

In the crypto market, Nano [NANO] digital coin is gaining prominence due to its gradual progress. Amidst the scenario of price declination and changes of cryptocurrencies in the recent times, Nano [NANO] is striving to bounce back. However, the development team of Nano [NANO] in the technical sector is working towards improving the user experience.

Mentioning about development, the impressive scalability of the coin paves the way to release block explorer. This would eventually make the crypto coin more lucrative for the users as well as user-friendly. The team with the help of the new interface would execute the plan of new block which would lead to the monitoring of the coin. The monitoring would be conducted on a real time basis at the time of keeping a track on the progress made by the coin when live on chain.

See also: Crypto Daily by BCFocus; Ripple, Huobi, Tron [TRX], Nano [NANO]; 05 June, 2018

As future development plans are on, the Nano [NANO] team is also taking preparation for a new and advanced wallet. The wallet is beneficial since it does not involve any fee and based on the policy of zero fee. It simultaneously represents a functional wallet which is both user friendly and safe as a storage space for Nano [NANO] cryptocutrrencies.

The future project that the team is currently planning to develop is known as the Watch app. This application would be designed in such a way that it improves the user experience and gives an altogether different knowledge of blockchain technology. It would be developed in a manner to facilitate the users to keep a track of their transactions and also previous 50 transactional record. This would assist in maintaining transparency and security of each record.

The latest news that breaks out in the crypto market on Nano [NANO] digital token is its free trading and deposit on CoinEx. A prominent digital asset exchange platform, CoinEx has also launched the trading pairs of NANO/BTC and NANO/BCH. The deposition of this cryptocurrency on CoinEx started from 21st June, 2018 and will continue till 12 noon, 28th June. In the exchange, with the deposition of one Nano [NANO] digital token, one free CET is received.

Social media posts and comments
The announcement made by CoinEx on the prominent social media platform, Twitter brought a number of replies and likes. A Twitter user called Ma. Cristie Lim greeted this move made by CoinEx and described it as “great”.

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