Nano, formerly RaiBlocks, is a peer-to-peer digital currency. It is a decentralized, open-source cryptocurrency based on directed acyclic graph architecture and released under the FreeBSD License. It operates without intermediaries by utilizing a distributed ledger with a block-lattice data structure. The Nano Foundation, a non-profit software development company founded by LeMahieu, reserved 7 million Nano dedicated to the continued development of the protocol. Nano’s design is a departure from other cryptocurrencies, as its blockchain does not keep a full record of its transactions. Instead, the Nano blockchain tracks account balances and their associated transaction amounts. Like all cryptocurrencies, Nano uses a consensus algorithm to ensure its network of nodes stays in sync to prevent users from breaking its software rules. More specifically, Nano uses a variation of delegated proof-of-stake called Open Representative Voting. Nano is a good investment because it’s scarce with no remaining emission. The most important feature for a nonproductive asset is that it is scarce and retains it quality over time.
Original author – Colin LeMahieu
Programming language of implementation – C++
Initial release – 1 October 2015
Development status – Active
Website – nano.org