Nano the future cryptocurrency

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Avatar for Jason012
3 years ago

Nano as a close to perfect cryptocurrency

Nano improves on gold in many ways, and approaches the theoretical limit of a perfect store of value. Its portability and transferability is unparalleled — it’s a digital currency that transfers at the speed of light. I could send you some, and it would be confirmed through global consensus in the time it would take you to blink. Not a single atom is lost as might happen in gold — 1 Nano sent means 1 Nano received, forever, because there are no fees in Nano. It can be divided up to 30 decimal places — the entire world economy could run on 1 Nano and people would still be able to do microtransactions.

This no-fee proposition leads me to the next important aspect, and I’ve written about this before. In Nano, there is no centralisation over time. There is no mining, there are no fees, no inflation nor block rewards. The network itself is the reward. This might sound counterintuitive. Because Nano is feeless, the fastest value transfer in the world, and such an excellent store of value, it’s an ideal solution for many businesses. As any merchant will tell you, being able to cut on fees has high value. As any exchange will tell you, people exchanging into Nano brings them lots of revenue. The value for these entities is in the network being online and staying online in a secure manner. The value is in the businesses they have built on top of it, and in the value of their own Nano holdings. The same holds true, proportionally, for each Nano holder.

Nano has no mining. It uses Open Representative Voting. 1 Nano = 1 vote. Anyone can run a validator, and anyone can vote for any validator at any time, or change their vote at any time. Everyone that holds Nano is incentivised to help distribute votes in such a way that it is incredibly hard for a single party or group to gain a majority of consensus. In other words, every Nano holder is incentivised to contribute to decentralisation.

This is no theoretical exercise. While the emergent centralization in Bitcoin is already apparent, this emergent decentralization can be seen in Nano through the movement of Nano votes over time.

Additionally, there’s the fixed money supply aspect of Nano. Bitcoin enthusiasts sometimes talk about the Stock to Flow (S2F) model as the roadmap to a $1 million Bitcoin. Bitcoin’s S2F is about 38–54, with a higher number essentially being better as this means there is less new supply coming into the market. Halvings increase the S2F, as this decreases the supply coming into the market. Without going into the validity of this theory, it’s clear how Nano’s proposition offers a better S2F. Nano will never have any new Nano coming into the market. Its S2F cannot be calculated, because it’s infinite.

Finally, Nano has no limitations built in with regards to scale. It scales using whatever hardware and bandwidth is available to it. The protocol is at the limits of efficiency, and uses extremely little energy. In every sense, it pushes the boundaries of what is possible. This is why I think Nano is not just a fantastic store of value, but that it might be difficult to conceive of something that works better in the first place.Now nano is leading the new tokens market.

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