In January 2018 RaiBlocks was re-branded to NANO. It still uses the same ticker symbol (XRB). NANO is said to be everything that Bitcoin never was.
NANO’s white paper raises concerns over the practicality of Bitcoin as a common currency:-
- Scalability issues have users facing high transaction fees, with a fee of $10.38
- Bitcoin’s high computational latency makes for an average transaction time of 164 minutes.
- Bitcoin’s proof of work consensus uses an estimated 27.28TWh annually, an average of 260KWh per transaction.
The cryptocurrency promises to deliver zero-fee transactions in real time without the same work-intensive overhead and energy consumption, which makes it superior alternative to Bitcoin.
It is said to be one of the most under-estimated and under-rated coin. Until now, NANO’s trading volume was extremely low and its price relatively static. In January, it made a massive runup to an all-time high of $33.69. It cooled off shortly after and at the time of writing this article it’s trading on $8.77.
Something astounding about Nano: it hasn’t hit any major exchanges, and it’s still a top 50 asset on Coin Market Cap.
Why to focus on NANO:-
In 2018 and beyond, the team will look to get XRB on more exchanges, and they want to allow nodes to prune chains further to reduce chain sizes for greater efficiency. With already 4 million transactions under their belt, a vibrant supportive community and more upcoming exchange listings, 2018 could be the year of mass adoption for this practical and cost-efficient Bitcoin alternative.