The Metal team is excited to announce the newest addition to our growing cryptocurrency marketplace: Nano (NANO). Don’t let the name fool you – Nano has one of the larger followings in the cryptocurrency community, and their addition to our marketplace is further evidence that Metal Pay is evolving into the premier all-in-one cryptocurrency platform.
What is Nano?
Most cryptocurrencies are backed by one of two systems: blockchain technology, or directed acyclic graph (DAG) technology. Part of what makes Nano unique is its combination of both blockchain and DAG technology; while blockchain is seen as more secure, DAG is seen as easier to scale. By combining the security of blockchain, and the scalability of DAG, users can be assured that their transactions are air-tight and processed quickly – the best of both worlds when it comes to cryptocurrency.
Nano uses a next-generation type of DAG architecture called “Block Lattice.” In this system, each individual account on the network has its own blockchain and signs transactions via private keys. The Block Lattice architecture is designed as an improvement over other types of blockchains, providing much more efficient and faster transaction speeds than cryptocurrencies like bitcoin.
What is Nano used for?
Some cryptocurrencies exist for supply-chain security, others were built around privacy. Still others were made to be stores of value. Nano was created in an effort to become a highly usable global currency. Users of Nano enjoy feeless transactions, instant processing, and near-infinite scalability. Additionally, because every unit of Nano is already in existence, Nano holders don’t have to worry about the future supply of Nano increasing.
Nano can be used for a variety of situations, including:
Perfect for online services, automatic payments, and other related transactions.
- Peer-to-Peer payments
Unlike fiat currencies, sending Nano can be done without fees or lag-time, no matter the amount.
- Cryptocurrency trading
By saving users on transaction costs, Nano has positioned itself as an ideal base currency for crypto trading.
Metal is thrilled to bring Nano to our customers as an exciting evolution in cryptocurrency technology. Nano’s combination of energy efficiency, impressive scalability, and incredible transaction speeds strengthens our marketplace and sets an example for the cryptocurrency community moving forward.
If you still have questions about Nano, you can learn more by checking out their website. Here you’ll find in-depth explanations about their technology, their vision, and their plans for the future.
Additionally, as we launch Metal Pay University, we’ll be sure to add quick explainers and refreshers about each of the cryptocurrencies we host on our Marketplace - including Nano.
You can also check out this short video for an exciting glimpse into the uses for Nano and the ideas behind it:
We hope you’re inspired to take a closer look at Nano! Keep your eyes open for more content on Nano in the Discover section of the Metal Pay app, as well as on our social media accounts. You can find us at @metalpaysme on Twitter, Instagram, and Facebook, and @metalpay on Steemit!