Huobi added yet another high-quality cryptocurrency to its leading exchange on 31stOct 2018. Nano, a cryptocurrency wherein each account has its own blockchain, has been added to Huobi and deposits went live from 16:30, October 31, 2018 (GMT+8).
As per Coinmarketcap, the market cap of NANO is $258,010,384 USD with a total supply of 133,248,289 NANO and the total volume of $2,961,160 USD. It is currently trading at $1.94 as on 6 October 2018.
Nano was launched in 2015 by Colin LeMieu previously known as RaiBlocks. Later in Jan 2018, it was officially rebranded as Nano. Nano works with minimum resources and delivers very instant transaction speed and unlimited scalability. Nano has three distinct features:
Own your own Blockchain with NANO
As a part of a larger directed acyclic graph, each account holder has its own blockchain. The computational power is provided by individuals for verifying their own transactions which mean that the entire network is not required to update the overall ledger together in massive blocks. Each account consists of its own blockchain known as account-chain (as shown in the diagram below) which updates only by the account’s owner. As a result, each account-chain can be updated immediately, independent of the rest of the block-lattice, leading to faster transactions.
Hybrid Consensus algorithm
Nano uses a combination of Proof-of-Work (PoW) and proof-Of-Stake (PoS) known as delegated Proof of Stake(dPoS). PoW helps in speeding transactions and prevents network congestion while PoS is used for the DAG structure for validating transactions.
Use cases for NANO
· Peer to Peer: You can pay your friends and family using Nano either while paying your rent or while dividing your dinner bill.
· Micropayments: Nano can be used for smaller amount transactions such as for digital asset rights, content subscriptions etc.
· Ideal Trading Pair:Zero-fee and instant transactions make it the most ideal for crypto traders.
· B2C:With Nano, seamless checkouts are possible whether in-store or online.
Buy Nano on Huobi
Nano prices skyrocketed on the news of Huobi listing NANO on its exchange. Huobi is known to list only quality blockchain projects and NANO is no exception. Huobi has a stringent methodology for screening projects and maintains high standards. Some of the screening criteria include attaining regulatory requirements and should have a real world application along with adhering to whitepaper and status report schedule. Nano satisfies the listing criteria and is offering solutions in the altcoins world which no other cryptocurrencies offer. It addresses the issue of low-scalability, high latency and power inefficiency. It also runs on low-power hardware.
You can now trade NANO on Huobi Digital Exchange. Register here