Nano (NANO) may not be on the list of top ten coins but it certainly has prospects. Since its inception, the coin has surprised everyone with remarkable growth. Nano was originally called Railblocks before it was rebranded to Nano. The name Nano wasn’t chosen randomly. It is meant to represent the simplicity and speed that is attached to the project. Since high transaction rate and slow transaction speed has always been a burden in the cryptocurrency industry, coins like Nano tend to attract the interest of investors.
Nano is cheaper, faster and more efficient than many other cryptocurrencies in the market including Bitcoin Cash. Transactions on Nano are spontaneous as there are no fees involved. The network is capable of instant transactions because it doesn’t rely on the mining process and blockchain method that Bitcoin and many other cryptocurrencies depend on.
Lawsuit Against Nano Gets Dropped As Platform Prepares To Release Update
Not too long ago, the founding members of Nano were facing a lawsuit against the platform. However, this week, Nano announced that the lawsuit by Brola has been withdrawn. Other complaints against the platform have also been dropped. As if this isn’t enough good news for one week, the platform also announced that it would be releasing an updated version soon. The current update v16.0 has been having syncing problems which Nano promises to fix with the v16.1 update. Part of the post by the platform is as follows:
“The updated version will allows accounts to chain the network’s Genesis block with few ad-hoc votes. This will only be required if the node has any future interest in the account. Voting in real-time will be completely passive. What this means is that blocks will be voted on only once leading to a significant reduction in the number of wasted votes.”
The platform is doing well in terms of developmental progress. All it needs is a little more adoption and it will be one of the best cryptocurrencies in the industry.