Nano

XNO Price

About Nano (XNO)

Nano is a high-performance, feeless digital currency designed to provide a sustainable and near-instant medium of exchange for global transactions.

• Zero-fee transactions: The protocol eliminates transaction fees entirely, ensuring that 100% of the transferred value reaches the recipient.
• Near-instant confirmation: Utilizing an asynchronous block-lattice structure, transactions are confirmed in under a second on average.
• Eco-friendly design: Nano does not rely on energy-intensive mining, with the network consuming significantly less energy per transaction than traditional Bitcoin or other Proof of Work systems.

What Is Nano

Nano is a low-latency cryptocurrency built on a novel data structure called the block-lattice. Unlike traditional blockchains that record all transactions in a single global ledger, Nano provides each account with its own dedicated blockchain. This architecture allows for asynchronous updates, meaning users can send and receive funds without waiting for the entire network to process a global block.

Value moves through the system via direct peer-to-peer transfers. The native token, XNO, is used exclusively as a medium of exchange and a store of value. Because the network is feeless, there are no transaction costs to erode the value of the transfer. The system is designed to scale as the ecosystem grows by allowing accounts to update their chains independently, which reduces the bottleneck of global network synchronization.

Unlike many other networks, Nano does not offer native staking rewards or coin-burning mechanisms. Instead, the token is "put to work" through Open Representative Voting (ORV), where users delegate their voting weight to representatives to secure the network. This process does not lock funds or provide inflationary rewards, keeping the total supply fixed.

What Makes Nano Unique

Nano distinguishes itself from other Layer 1 protocols through several key architectural and economic differentiators:

• Feeless Model: Nano is one of the few decentralized networks that charges zero fees for transactions, making it ideal for microtransactions and everyday retail payments.
• Block-Lattice Architecture: By giving every user their own blockchain, the network avoids the competition for block space that typically leads to high fees and congestion in linear blockchains.
• Open Representative Voting (ORV): This consensus mechanism allows for a highly decentralized and energy-efficient network. Users choose representatives to vote on their behalf, and the consensus is reached through a balance-weighted vote on conflicting transactions.
• Sustainability: Because the network does not require mining or heavy computational work to secure transactions, its energy footprint is minimal, often compared to the energy used for a single search engine query.

What Can You Use Nano for?

Nano is optimized for a variety of financial use cases where speed and cost-efficiency are paramount:

• Remittances: Facilitating international money transfers without the high fees and slow processing times associated with traditional banking systems.
• Microtransactions: Enabling very small payments for digital content or services that would otherwise be impractical due to transaction fees.
• Online and In-Store Payments: Serving as a digital cash alternative for merchants who want to receive the full value of a sale without paying credit card processing fees.
• Foreign Exchange: Providing a fast and low-cost bridge between different fiat currencies or digital assets.

How Does Nano Work?

The core of the Nano protocol is the block-lattice, a Directed Acyclic Graph (DAG) variant where every account maintains its own ledger. Each transaction consists of two separate blocks: a send block on the sender's chain and a receive block on the recipient's chain. This allows the network to process transactions asynchronously, as only the account owner can update their own chain.

Consensus is achieved through Open Representative Voting. When a transaction is initiated, representatives—nodes chosen by users to represent their voting weight—vote on the validity of the transaction. If a conflict or double-spend is detected, the network uses the balance-weighted votes to determine the legitimate transaction. This system removes the need for Proof of Work for consensus, though the network uses a small amount of Proof of Work as an anti-spam measure to prevent malicious actors from flooding the network with transactions.

Team Info and Investors

Nano was founded by Colin LeMahieu, who published the original RailBlocks paper in 2014. The project is currently supported by the Nano Foundation, a non-profit organization dedicated to the development and adoption of the protocol. Notable leadership includes George Coxon, who serves as a director and communications manager for the foundation. The project began as a fair-launch initiative, with tokens distributed via a faucet system to ensure broad and decentralized ownership. The source material does not specify a list of private venture capital investors or institutional funding rounds.

Where can you buy Nano?

XNO tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Nano is Binance, where the most active trading pair XNO/USDT has a trading volume of $45,785.81 in the last 24 hours. Other popular options include Kraken and Bitvavo.

What is the daily trading volume of Nano (XNO)?

The trading volume of Nano (XNO) is $125,924.65 in the last 24 hours, representing a -84.60% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Nano (XNO)?

Nano (XNO) reached an all-time high of $33.69 and an all-time low of $0.02618. It’s now trading -99.00% below that peak and 1,157.60% above its lowest price.

What is the market cap of Nano (XNO)?

Market capitalization of Nano (XNO) is $43,870,066 and is ranked #478 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of XNO tokens (130 Million tokens are tradable on the market today).

What is the fully diluted valuation of Nano (XNO)?

The fully diluted valuation (FDV) of Nano (XNO) is $43,870,066. This is a statistical representation of the maximum market cap, assuming the maximum number of 130 Million XNO tokens are in circulation today. Depending on how the emission schedule of XNO tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Nano compare against its peers?

With a price decline of -13.10% in the last 7 days, Nano (XNO) is underperforming the global cryptocurrency market which is down -3.40%, while underperforming when compared to similar Layer 1 (L1) cryptocurrencies which are down -6.40%.