← Back to articles

Small, but perfectly formed

February 12, 2019 10:49 am Published by

Here at Wirex, we’re always looking for exciting projects that will offer our customers something different, to help us cater to every type of crypto-user. That’s why we’re 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 we’re 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. It’s 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 weren’t 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.

January at Wirex

Welcome to 2019, Wirex users! We’ve not let January blues hold us back – we’ve been working around the clock to make some big changes. All will be revealed soon. In the meantime, it’s been a month of new releases with two new tokens available for Wirex users in the EEA. They’re both ready for… View Article

A token to DAI for

The Dai (DAI) token joins Bitcoin, XRP, Ether, Litecoin, Waves and Wollo as the seventh cryptocurrency available for users in the EEA to buy, store, convert and spend with their Wirex Visa cards. As our very first stablecoin, its introduction marks the start of a new era for Wirex. Stablecoins offer a much sought-after middle… View Article

The first rule of Wirex club

Calling all Wirex fans. Are you an active part of the crypto community? Have friends and family asked if you earn commission thanks to your constant Wirex chat? Do you leap on new products and features like a kid at Christmas? If the answer to all of these questions is yes, you could be one… View Article

Wirex Security Update – 18.01.19

Transparency is one of our core values. Following the issues faced by some of our users over the weekend, we want to ensure that our customers understand exactly what happened and why. We know that many of you have been severely inconvenienced and we apologise wholeheartedly to all who were affected. The integrity of our… View Article