Since the Bullrun of 2017 when BITCOIN and other cryptos reached record highs the world's interest in Blockchain technology and cryptocurrencies has been steadily increasing.
At the beginning, alternative cryptocurrencies to BTC generally sought to be more optimal as a means of payment or with an emphasis on privacy (BitcoinCash, LITECOIN, Zcash, Monero etc..). Today we have everything, METAVERSO tokens, MEME cryptocurrencies and so on. Not to mention all the financial products that just by putting on the label "Decentralized" have managed to benefit from all this fever : DEFI PLATFORMS for example, which it should be noted there are many scams in that medium, that's why we must know how to investigate where we put our money (DYOR).
We have forgotten, perhaps because of the great speculative circus that the crypto world means for many, that this technology was conceived to solve real problems of the people who always get hurt by the elites. What Satoshi Nakamoto had in mind was a digital cash system without intermediaries, not a high-risk asset traded on exchanges and centralized markets.
Yes, we already know that Bitcoin Cash is a project that rescues that vision and it is totally laudable, I like it and I recommend it. But as I am not an evangelist of BitcoinCash, I recognize its usefulness and value but I understand that there are other projects with interesting proposals and even much more effective. Well, without further ado, let's get back to what I came here to talk about NANO.
Former project first known as RAIBLOCKS in 2015. NANO (XNO) is a highly scalable cryptocurrency. It was conceived to be decentralized money. Transactions in NANO last as long as the blink of an eye, literally milliseconds and these transactions have NO COMMISSION. If they send you 0.0002 XNO you receive the same 0.0002 XNO. What I like about this type of project is not only its obvious scalability and operability, but really its "functionality and practicality of use".
The interesting thing about NANO is that it does not work with the known consensus mechanisms (proof-of-work POW and proof-of-participation POS) any of these. It works with a consensus mechanism called (ORV) with a DAG architecture called Block lattice. I'm not going to lie to you I don't know how to explain those last technical aspects so for those who want to delve into it I leave you the official page: https://nano.org/
I think in the future the usability and privacy factor of cryptocurrencies will be important and will define a lot of things. BITCOIN would have to take hold and start being used by people with its 2nd layer solution Lightning Network, BitcoinCash we know it is built to be effective person to person so that will keep it in the timeline and NANO as I have no doubt it could be a solution among the many that there are about money to be used by ordinary people.
There is no doubt that the use of cryptocurrencies as a decentralized means of payment is becoming more and more necessary. Even more so, for those of us who live in countries where policies are oppressive and encourage inflation. Currently in my country Venezuela economic policies are being developed to implement taxes on transactions in dollars and cryptocurrencies. The economic measures taken by the Venezuelan government always negatively affect the balance of the economy, I would like to think that these taxes are going to be used for concrete purposes and that benefit us all, but in a country with total impunity for the corrupt in the institutions, there is every reason to think that these measures will not have a good result.
NANO, BCH and other cryptocurrencies can help us to decentralize our economy and can also serve as a long-term savings because there are reasons to conclude that projects with high usability and scalability are the ideal ones to be the money of the not too distant future.
I want to leave you with this video I found on youtube where in a few words you can understand how NANO (XNO) works as a cryptocurrency.
I try to be a disseminator of Blockchain technology in my country. I try to educate those who are starting out and help them learn how this technology works. Currently I am very much into making publications on decentralized platforms like read.cash, noise.cash and steemit with which I get money in the form of cryptocurrencies which helps a lot to alleviate my economic situation in this country.
Thank you in advance for supporting my content and giving value to my publications. If you liked this article you can support me by subscribing or giving me a like. My user is @ozzycrypto and I'll see you in a future post.
