NANO - Lightyears ahead of its competition - Feeless, scalable, instant payment solution

This is my first comprehensive article in a while and i want to use it to give a basic introduction to all the new members in the cryptocucrency space that have heard about blockchains and DLT (distributed ledger technology) but cannot fully understand what NANO is and the value it brings to the space.

In a nutshell, NANO is a next generation cryptocurrency. To be more specific, it solves all the major flaws of the early generation currencies like bitcoin, litecoin and yes even Dash. Please note i do not intend to deminish their accomplishments or usability but rather i want to point out some of the problems that they have not solved yet or may never solve due to limitations in their core architecture.

Lets look at some of the major limitations of the legacy blockchain.

Scalability

One of the basic limitations of the blockchain is its scalability issue. With the growing number of users and the inherent limitations in block capacity and scale to accomodate large volumes of transactions a cieling is being reaches faily quick.
NANO & IOTA solve this problem with their difference in architecture. They do not need a blockchain and are built from scratch with a DAG architecture which stands for a Directed Acyclic Graph. This allows for unlimited scalability and can grow the network to unlimited proportions with increased usability.

Instant Transfer

First and second generation cryptocurrencies have a major limitation which is directly tied to scalability, As the usage increases the network gets slower and overcrowded, You might have heared of the "mempool" where all unconfirmed transactions end up that are not included in blocks and therefore can stay there for hours or sometimes days.

NANO doesnt have such a limitations. Transactions are instantly confirmed due to the minimal amount of POW that each users automatically does when loging into their wallet. Additionally Delegated Proof if Stake is being used.

In the NANO network each user is their own node. The pow itself is minimal and requires no further action but to log in.This leads to a smooth running network without limitations at all.

Fees

Another limitation of the legacy blockchain are its network fees. Depending on the protocol of a currency miners or nodes confirm transactions. These "intermediaries" take a cut of each transaction to secure the network. Nevertheless a cut is taken from evey transaction. Once the network gets crowded or usage increases these transaction fees can increase to rediculous proportions.

Example:

            Bitcoin Transaction fees in 2009.........0.001$-0.01$ per transaction
            Bitcoin Transaction fees in 2018.........10-30$ per transaction

            Litecoin Transaction fees in 2014........0.00001$ average
            Litecoin Transaction fees in 2018........0.7$-1$ avarage

            NANO Transaction fees in 2017/18.......feeless for ever

Why pay for a transfer of value, if you can transact for free?

NANO with its DAG architecture is the future payment solution for the masses. Only very few people are aware of all the essential value that NANO brings to the cryptocurrency space. The recent exchange hack on Bitgrail doesnt help at all to promote the project but makes fundamentally no difference to the core network. NANO is superior to 99% of all currencies due to previously mentioned factors. In the next blog post we will take a look at more features that NANO brings to the community.

Until then i hope you enjoyed my article may come back for more.

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