The current price of Nano fluctuates around $0.658320; the total market capitalization is $87,719,970 or 11,901 BTC, which makes NANO one of the 50 most popular digital currencies as of January 2020. The circulating supply is 133,248,297 NANO, which is also the maximum supply of NANO. The daily trading volume is around $1,794,397 or 243.45099604 BTC. The most active exchange that trades Nano is Binance.
The all-time high of Nano, $37.62, was reached on January 2, 2018 – during the most famous cryptocurrency bull-run of Winter 2017-2018. On the other hand, the all-time low of Nano, $0.006658, occurred way back on March 10, 2017. Currently, the estimated ROI (return on investment) of NANO is 7,131.29%, which means that $100 worth of NANO bought at the time of the Nano launch would yield around $7,131 of profit today.
When Nano first appeared on the cryptocurrency market in 2017, the price was around $0.007 per coin. For about a year after its launch, the price of Nano did not exhibit almost any significant fluctuations. However, it did grow ten-fold by the end of the year, before entering a bull run similar to the rest of the market. In December, over the course of one month, the price skyrocketed to $15, and in early January reached a historical high of $37.62. What followed afterward was the correction phase for the whole market, which resulted in a continuous downtrend for Nano that, in a way, holds to this day.
By September 2018, the coin finally got stabilized around $2 and even started showing signs of growth. However, the uptrend did not last long, and the price of NANO dropped below $1, where it stays to this day. Nano experienced a substantial decrease in price during 2018, primarily due to the overall bearish trend on the crypto-market, which affected pretty much all cryptocurrencies. However, another contributing factor was a clear lack of advertising and a generally underdeveloped marketing campaign. The latter is especially important as the competitors of Nano are cryptocurrency giants like Bitcoin and Litecoin. However, the developers recently made some big contributions to the blockchain. Nano became more decentralized; the block time was reduced from 3 seconds to 0.2 seconds. This led to moderate growth of the ecosystem.
The underlying technology of Nano is unique: it is currently the only digital currency that uses Block Lattice. This, combined with the current lack of hype, leads some cryptocurrency experts to believe that the price of Nano is going to soar soon. According to Changelly, the price of Nano in 2020 could easily reach $1.5-3.0. Read more about NANO’s price
What is Nano
Nano (NANO) is an open-source, decentralized cryptocurrency developed by The Nano Foundation in 2015. The concept behind Nano is to create virtual money for day-to-day use, much like Bitcoin. However, compared to the latter, Nano solves several significant problems, including reduced transaction confirmation time and corresponding computational issues, and scalability issues.
Therefore, the driving force for the launch of Nano was scalability. The blockchain is responsible for the enhanced security of transactions, so anonymity is not the main focus of the project. Instead, the team strives to provide a way for conducting the fastest transactions possible with zero fees.
Curiously, no ICO preceded the release of Nano – instead, users could earn tokens simply by solving captchas. A distinct feature of Nano is the use of Block Lattice, which reduces the time needed for transaction confirmation and also makes network updates faster. Nano combines the Open Representative Voting PoS consensus mechanism with a small portion of PoW in order to rate-limit transactions.
Nano’s blockchain architecture is based on DAG (Directed Acyclic Graph) for better security. In such a system, every account is assigned a separate blockchain. This is very the user account information is displayed, and it can be updated solely by its owner.
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