What is Nano & Get Some XNO for Free
Overview and History
Nano (abbreviation: XNO) is a cryptocurrency, which boasts itself as being eco-friendly and inclusive. It doesn't cost anything to send; there are no fees. It doesn't rely on mining to power the network, but rather a "open representative voting" system.
Nano can be used for:
Remittances
Microtransactions
Online & in-store payments
Foreign exchange & trading
Banking infrastructure
Originally launched in 2015 as RaiBlocks, the protocol's sole purpose is to be a "high-performance cryptocurrency," per the original white paper. Built on an "innovative block-lattice data structure offering unlimited scalability and no transaction fees," it was launched by Colin LeMahieu. In 2017, the supply limit of 133,248,297 was reached. A year later, in January 2018, the crypto was renamed from RaiBlocks to Nano.
Price
The price of Nano skyrocketed in December 2017 and reached an all-time high of $33.69 in January 2018. The price took a hit in February of that year, when it was revealed that Italian crypto exchange BitGrail announced it had been hacked, eventually leading to its shutdown. Users were unable to access 17 million XNO, as it had been stolen by the hackers. The stolen coins were worth about $170 million at the time, and the incident led to a plummet in the price of Nano. It never really recovered, until the beginning of 2021 when the price was briefly over $10 again.
XNO is currently trading at 77 cents per token.
Most Efficient
For me, the two main takeaways about Nano are that it's feeless and extremely efficient. In fact, the Nano Foundation themselves calls XNO "the world's most efficient digital currency." Transactions are completed within a second. As the world looks toward a "net zero" future, Nano can be a leader in that regard as the carbon footprint is extremely small, especially when compared to Bitcoin:
Nano makes a very convincing case that it can be extremely beneficial for charities.
Get Some XNO!
Once you have a wallet capable of holding Nano, you can try it out for yourself. I personally use Trust Wallet. There are several faucets that will easily send you small amounts of XNO for free. No hassle, no PTC ads, no bullshit. Well, some may require solving a captcha. But that's a tolerable level of BS in my view.
Please note that these faucets only drop minuscule amounts of XNO. Hopefully this post was somewhat insightful and you have enjoyed it.