After the scandalous case of BitGrail hack that took place approximately two months ago with having around 190 million dollars worth NANO Coin stolen from the network, Nano had another devastating case scenario where this coin lost 90% of its value after it managed to set its personal all-time high in January when the majority of currencies were marking individual record prices. Still, after all the SHTF scenarios that this coin went through, there are still plenty of reasons to make it a keeper, thanks to its simplicity and efficiency.
Nano and Transaction Fees
One of the main reasons for having Nano Coin as one of the top coin to use and HODL is the fact that Nano promotes zero fees for making transactions, which means that every time you make a transaction with Nano, you pay only what you get without having any amount reduced for fees, all enabled by the functionality of Nano wallets
That means that regardless of the amount of your payment, the processing of your transaction will cost you nothing, and for that reason, Nano makes up for one of the top coins among holders.
Ranked among the top 40 coins, while currently being ranked as the 37th coin on the global coin ranking despite the massive drop that decreased the value of this coin by 90% over the course of a couple of months, Nano can definitely be seen as a valuable coin to hold onto. If anything, zero fees certainly contribute to the overall functionality of the coin, as well as making it a desirable HODL.
Nano (NANO) and Scalability Solutions
The thing you can hear most blockchain projects complaining about is the fact that a great portion of platforms and networks are having troubles with slow network time, slow processing of transactions, traffic jams and other problems that can be categorized as scalability issues.
However, Nano offers a simple, but effective solution for resolving problems with scalability. The protocol Nano is using is called block lattice and is based on the private key of users’ accounts where the NANO blockchain is replicated among the accounts, that way resolving issues with potential slow transactions, traffic jams and slow network time.
Showcasing that there is no need either for Proof of Work protocol or Proof of Stake, as this coin manages to establish scalability with block lattice where account balances are being modified with the users’ indication simply by sending and receiving blocks during transactions, which is another one of many reasons to think of NANO as a definite keeper in 2018.
New Updates with Nano
In a way redeeming itself, Nano Coin is showing an exquisite progress in the market as it is bouncing back up with the latest change in the market.
With over 11% of gains in the last 24 hours, Nano is going up against the dollar while being traded at the price of 2.85$, this coin is definitely showing improvements in the market, but also in the technical field as NANO team is working on several developments that would improve the user-end experience.
When it comes to development, this highly scalable coin is planning on releasing a block explorer that is most certainly going to make Nano (NANO)even more user-friendly and easy to use. With the new interface, the team will be implementing a new block which will have the purpose of monitoring the coin with a real-time response while tracking the coin’s progress live on the chain.
With the expansion of digital assets, it is important to work on further developments, which the team behind this coin certainly knows as they are also preparing a new Nano wallet that will have no fees with zero-fee policy while representing a functional wallet that is safe to use for storing your Nano coins.
To improve the experience of their users and take it to the next level of blockchain-based functionality, the team is also planning on developing an application called Watch app that should enable users to track their transactions while keeping the record of the last 50 transactions, that way making transaction records individually transparent and safe.
With bouncing back up with the latest change in the market alongside with working on developments for the future face of Nano Coin, this coin makes up for a prominent project while also making a definite keeper in the crypto market, while redeeming for the unfortunate case of the BitGrail hack that was quickly resolved, although not forgotten.