The appearance of cryptocurrencies in the current market has made it very clear to us how far we have come in technological terms within the field of finance and economics.
The fact that we have the possibility of making an investment in a virtual currency with almost no problem makes it very clear to us the magnitude of the matter, as well as the importance of cryptocurrencies today, and more and more people are who realize how simple it is to invest and learn a little about the cryptocurrency world and earn a little money in the process.
In general, cryptocurrencies are a great boon for technology fans, as well as those people who like to have wide freedom on a financial level, since cryptocurrencies are generally fully decentralized, that is, price and the way in how transactions are carried out is not controlled by any type of government or financial entity.
But, there are not only positive aspects to the existence of cryptocurrencies. One of the biggest negative aspects found with cryptocurrencies is the environmental impact they have. Although, it is refreshing to know that there is a cryptocurrency whose developers are concerned about the impact they are having on the environment, they always seek that theirs be fully environmentally sustainable. We are talking about Nano.
What is Nano?
Nano, is a cryptocurrency that is totally open source. The fact that it is low latency, and that in contrast it has an extremely high performance, makes its transfers consume very little power, and that they are also extremely fast. But, it is striking that it is one of the few cryptocurrencies that is not based on a blockchain technology to be able to function and carry out transactions, but that it works based on a DAG, or directed acyclic graph.
Instead, each of the accounts that exist within the Nano system has its own unique blockchain, which is based on an architecture called Block-lattice. This architecture is what allows the transactions carried out within the system to be almost immediate.
And, in terms of proof of work, it is interesting to see that proof of work is a small one that occurs with the sender and the receiver, but not with anyone else. And, in addition, they do not have any type of miner, so it is impossible to get commissions through transactions; detail that is considered fundamental to the sustainability of many other cryptocurrencies.
And, as we discussed earlier, it announces is a platform that has the long-term vision of supplanting bitcoin as the most popular cryptocurrency, using legislation, regulation and climate advocacy as a means.
Although, many people have found that this breaks in part with the principle that cryptocurrencies should be fully decentralized. Although, the fact that this cryptocurrency uses nodes to be able to maintain decentralization is very smart on its part, and it maintains a certain safe regulation when carrying out each of the transactions. So at the end of the day it ends up being a really different and peculiar cryptocurrency.