The NANO cryptocurrency (NANO) is a platform for fast payments that requires a minimal amount of resources, which makes Nano an ideal means for conducting peer-to-peer transactions. The NANO cryptocurrency was originally launched in 2015 by Colin LeMahieu under the name RaiBlocks.
Payment operations on the Nano network happen instantly, which makes it possible to make purchases using the Nano cryptocurrency regardless of their cost, since both large and small transactions will be executed instantly. There is no fee on the Nano network, no matter what you buy — any purchases, from a bus ticket to buying an apartment or a car, will go through with zero fees. The Nano blockchain can process 1000 times more transactions per second than bitcoin, so you will never get stuck in a queue. With Nano, every account has its own blockchain. Each individual user provides computing power to verify their own transactions. Wallets pre-cache the Proof of Work for the next transaction after a transaction is sent, making transactions instant, since both parties have a proof of readiness for work. One transaction equals one UDP packet in volume, and transactions are processed independently, eliminating any issue with block size.
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