The rise of the crypto currency has taken place at a rapid pace. The first coins initially received little attention in the media, but as Bitcoin started its huge price increase, more and more attention was paid to other coins as well. Because of this Qtum kopen, called buying Qtum in English, was done by more and more people. With the increased attention, more people started trading, mining and looking for opportunities to use the blockchain itself. The result: the shortcomings of the applications and coins quickly became apparent.

Especially when a transaction in Bitcoin not only became expensive, but could also take almost a day. The solution: cryptocurrency 3.0. The Nano crypto is without a doubt the newest generation of the cryptocurrency , but the irony is that it saw the light of day already in 2014. At that time it was still called Raiblocks, a name that soon had to be changed because people worldwide misspelled the name and tag. Nano became the new name, with XRB as the crypto coin that goes with it. A crypto coin that at an early moment caused a small revolution within the crypto market, but which is now back in the spotlight again. This is the case since it solves the problems that many people have in the world of digital money.

Nano is primarily a coin. It’s not so much a huge platform of applications and utilities, it’s really made as a means of payment. DAG, Direct Acyclic Graph, is used for this. This ensures that the coins are scalable, that payments can be made very quickly and it has an advantage that is interesting for all people who want to make micro-investments. There are no transaction costs when you transfer or use these coins for a payment. This might also be the case when you buy Cardano, which translates to Cardano kopen in Dutch. 

The system employed by Nano is very similar to the system that IOTA uses, but the technical background of Nano is fundamentally different from IOTA’s Tangle. The way Nano works is revolutionary to say the least. With Bitcoin, every transaction creates a new block on the blockchain and the size of the actual chain increases. A transaction takes a lot of time because it has to be ‘voted’ and the transaction has to be approved by the majority of the participants within the network.

Nano does not want that. It has therefore chosen to give each account its own sidechain. In concrete terms, this means that new transactions are not added to the main chain, but that side branches are created that do not add weight to the actual blockchain. The advantage of this is that only two ‘votes’ are needed to approve a transaction. When the payment is received and confirmed by the receiving party, no block is added to the sidechains, the previous block is replaced so that the new balance on the accounts is adjusted to the new value.

Featured Image Source: PixaHive