Nano cryptocurrency is a replacement to Fiat currency which looks out to revolutionize the blockchain technology completely by bringing in the Zero-fee transactions in real time and removal of energy consumption along with work intensive overhead characteristics of bitcoin. It was introduced into the market as ‘Raiblocks’ in 2015 and later in 2018; it was rebranded to Nano.
This rebranding brought the value of Nano a hike of about 40% in 24 hours. Nano uses Direct Acrylic Graph (DAG) algorithm and employs its technology called block-lattice architecture. The main benefits with Nano include – every individual is given their blockchain called account-chain, lesser storage of the amount of date, lower transaction times, Zero-transaction fee and Low energy consumption. Any transfer requires a sender’s and a receiver’s transaction. Once the transfer is complete, the receiving party signs a block for confirmation.
As per analysis from CoinMarketCap, Nano is ranked 45th largest cryptocurrency, and it’s market cap value is USD 126,659,062 for the 24h Volume of USD 10,961,651 on March 11 at 12:14 UTC which is higher than its relative values of USD 107,599,433 on February 11 by 17.71%. The market value of this cryptocurrency has been range bound between 120 million USD and 140 million USD with inconsequential highs and lows. The Mcap value of Nano reached its Lowest of USD 100,491,660 on February 06 and a peak of USD 134,984,449 on February 24 at 11:29 UTC. Although menial, the recent values show that the MCap values have been on the rise. The 20-day EMA also displays an uptrend on comparison with the present-day values. The differences between the values have progressed by 1.72 percent. This market trend puts the digital currency on a bullish pressure.