Nano: Might Sound Small, But Does it Have a Big Future?
Originally named Raiblocks, it’s a fast, no-fee cryptocurrency that became world famous after the Bitgrail hack last January. But is there more to the story? Like IOTA, Nano doesn’t run on a blockchain - it uses a Directed Acyclic Graph, with no fees and nearly instant transactions. Supporters of Nano say that makes it a perfect medium for micropayments and cross-border transactions. Earlier this year, Nano holders made headlines by using it to make small donations to hungry Venezuelans. But that doesn’t mean Nano is perfect, and there are still big concerns about how a future Nano ecosystem would keep running. Since Nano has no fees, some critics say there’s not enough incentive to maintain the network. Regardless, Nano’s token has taken a similar direction as the rest of the market in terms of price action. The NANO/BTC pair, for example, has dropped from its all-time-high levels from back in February, and currently consolidating just above the all-time-low level. The pair had a temporary recovery in August 2018 after reaching the all-time-low levels 2 weeks earlier. However, the price broke below the daily Ichimoku cloud in September and has continued under it ever since. If the current trend continues, we could expect a revisit of August lows at 0.00015. Now I’d like to hear from you. What are your thoughts on Nano, which currently ranks 36 in terms of market cap? Do you think it can ever make it to top 10? Let me know in the comments and subscribe to get more updates.