Nano (NANO) Price – Current Live Value

Nano (NANO)

Nano (NANO) was originally launched as a cryptocurrency known as RaiBlocks (XRB) in 2015, but was later rebranded to its current name in early 2018. It boasts a novel means of transacting and tracking values by giving each user their own private blockchain or 'account chain'. These sidechains track and store most of the data privately, while only the most crucial elements are stored on the main blockchain. This system allows it to boast both free and instant transactions.

The value of Nano was effectively flat for the majority of its post-ICO lifetime as the XRB coin. This changed suddenly when the value of the tokens exploded higher following the early 2018 rebranding, which also coincided with the overall crypto boom of 2018. NANO coins saw a much bigger increase in value when compared to most other digital currencies, but in the end the price range fell back to a much lower level, yet still elevated compared to the price before the rebranding and 2018 crypto boom. It is now a top 40 cryptocurrency by overall market cap.

Nano operates on a simple sender/receiver confirmation system, where the only information stored on the underlying blockchain is the pending transaction and its confirmation or denial by the receiver. This dramatically reduces the load on the underlying blockchain, and allows it to operate far more efficiently.