Currencies & Rates

Small, but perfectly formed

Feb 12, 2019, 10:49:07 AM Published By Wirex Team
Here at Wirex, were always looking for exciting projects that will offer our customers something different, to help us cater to every type of crypto-user. Thats why were so pleased to introduce the latest coin to the Wirex family, Nano (NANO). It joins Bitcoin, Litecoin, XRP, Ether, WAVES, Wollo and DAI as the latest cryptocurrency that Wirex users in the EEA can buy, store, convert and spend, quickly and simply.

Why Nano?

Nano is a next-generation cryptocurrency with great potential. It aims to create opportunities for individuals and communities to interact with the global economy on a more even playing field, by offering features unmatched by legacy blockchains. Like Wirex, the team behind Nano endeavours to makes money more efficient, for a more equal world - and were delighted to be a part of those plans.

So what makes Nano different?

The important underlying technology that differentiates Nano from other cryptocurrencies is the concept of the Block Lattice. In the Block Lattice, every account has its own blockchain - rather than sharing one single chain in which everyone is competing to get their transactions into the head block. This unlocks a world of functionality. By allowing simultaneous transactions, there is no limit to how many can be processed at once, resulting in incredibly fast transfers and huge scalability that can be achieved with very little energy expenditure. As the world becomes more eco-conscious, the environment is an important consideration for any crypto intent on becoming a global currency. Nano is designed to address this issue. Rather than relying on power-hungry mining to secure the network, Nano uses a process called Delegated Proof of Stake. This model gives the user the freedom to delegate their voting stake in the network to any representative they choose, who in turn uses the stake to vote on consensus. This emphasis on decentralisation and responsibility defines Nano.

Where did it all begin?

The Nano story began in 2014 when an ambitious software developer called Colin LeMahieu began to explore inefficiencies he identified in popular cryptocurrencies at the time. Using his extensive background as a developer for the likes of Qualcomm, Dell and AMD, he set about developing a protocol that addressed the issues he felt would prevent the mass adoption of cryptocurrencies. From this research, RaiBlocks was born. The project garnered extensive support, maintaining a strong community of developers, enthusiasts and entrepreneurs throughout development. In January 2018, RaiBlocks rebranded to Nano. Since then, support for the coin has continued to grow. Its clear that Nano users put a lot of emphasis on the underlying merits of the coin, rather than focusing on the day-to-day price fluctuations that are an inherent feature of any cryptocurrency.

Nano and Wirex: a perfect match

Speed of transaction is a feature prized by the Nano community. As such, integration onto the Wirex Visa platform is an exciting next step in the coin's journey, creating the fastest decentralised bridge between cryptocurrency and real-world spending. As if that werent enough, all in-store purchases made in Nano with the Wirex Visa card pay back 0.5% in crypto giving you an even more compelling reason to start spending Nano today. Want to give Nano a go? Buy it in your Wirex account right now.
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