Huobi Launches Nano - Here’s My Review

somejasonguy (32)in #cryptocurrency • 5 years ago

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One of 2018’s hottest cryptocurrencies has found a new home on Huobi. So let’s get into why this listing is such a big deal and what all the fuss is about Nano.

Nano (formerly Raiblocks) was recently listed on Huobi Pro. If you don’t have an account already, you can get one by clicking right here.

Now, some of you may know that most of Nano was distributed for free! Yes you heard that right - Initially Nano or rather Raiblocks was pretty much distributed for free. As popularity spread, its price began to skyrocket and most people were left kicking themselves for not getting their share of tokens for free.

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Later, Raiblocks rebranded to Nano and saw another spike in price. Since then, things have been moving along smoothly for the project with a ton of developments and news. One big milestone for the project was its recent listing on Huobi.

As per Huobi Global’s official announcement the exact details and trading pairs are listed below:

Nano (NANO) will be launched on Huobi Global on October 31, 2018 (GMT+8). Deposits will be available from 16:30, October 31, 2018 (GMT+8). NANO/BTC and NANO/ETH trading will be available from 17:00, November 01, 2018 (GMT+8). Withdrawals will be available from 16:30, November 04, 2018 (GMT+8).

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Huobi has a track record of listing top shelf projects. Their selection project is stringent and precise and tons of measures are taken to ensure that customers and investors on their platforms are well taken care of. This means only the very best project with the biggest potential and backed by solid fundamentals get a chance to even be considering when it comes to listing. That’s why it’s safe to say that you can blindly trust any project that’s listed on Huobi.

Nano’s listing on Huobi wasn’t just hotly-anticipated by the community and investors but very well received as well. Following the news, the price of Nano surged by as much as 8% while most other currencies continued to remain stagnant.

Nano Overview

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We’ve talked a lot about the listing, not let’s get into what Nano is all about. What makes it an amazing project? What sets it apart from the pack?

For starters, Nano is a very unique project in that in offers far more benefits and a slew of unique features that other projects quite simply cannot offer. Let’s dive right into it, shall we?

Nano is Infinitely Scalable

Scalability has been a hot issue for many projects most notably Ethereum and EOS. But when it comes to Nano, there’s a difference. Nano is a cryptocurrency with a unique and revolutionary block-lattice architecture. This means that each account has its very own blockchain which not only translates to near-instant transactions but also enable unlimited scalability. Since each user has their own blockchain, it enable them to asynchronously update to the rest of the network.

This results in faster transaction with reduced costs (pretty much free) and very minimal overheads. Each transaction is kept track of in terms of account balances rather than amounts being transacted which allows for aggressive database pruning without compromising security.

Nano Is Instant

For anyone that regularly trades Cryptocurrencies, you probably know the pain of sending Bitcoin anywhere. Fees aside, because of the recent Bitcoin volume, it can take anywhere from hours to days to arrive at the location you send it to. This can be enormously frustrating because if you see an opportunity to buy an altcoin at a low price, by the time your Bitcoin arrives that opportunity may be long gone. Nano solves this by being instant. If you've ever sent Nano from one exchange to another exchange, or from one wallet to another wallet, you'll see that it literally completes in seconds.

Nano Is Free

What I mean by this is that there are zero fees to send Nano. Again this a major flaw that Bitcoin was showing very prominently in the past few months. There were stories of people paying upwards of $50 to $100 to send a very small amount of Bitcoin. It's insane that anyone has to deal with that and it's just another reason that in real world use cases, no one is going to want to use Bitcoin to pay for everyday transactions. But due to Nano's fee-less structure, this is something you won't need to worry about.

Check out this great video available on the Nano website:

Nano Tokenomics

Total Supply: 133,248,289

Token in Circulation: 133,248,289

Token Price: $1.96

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Final Thoughts

I believe that Nano is one of the most promising cryptocurrencies out there today. There is a lot going for this project and it offers a ton of benefits, but Instant and free transactions are the two biggest reasons I have money on Nano to be a big player in the future. That being said, however, Nano is very much a new and unproven technology. Fundamentally it looks very sound and it has a great development team. But until it scales and deals with the level of users that Bitcoin has, it will be unproven. It could have some fatal flaw which completely bogs down the network and renders it useless. I'd rate the chances of that being very low but we just don't know what the future has.

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Nano is infinitely scalable and instant, but there’s competition too. Nano is up against projects like NEO and EOS which are instant and highly scalable so it’s going to be interesting to see how that plays out in the future.

Overall, if I had to give Nano a rating, it would be a solid 9 out of 10.

Nano Useful Links

Website: https://www.nano.org

Whitepaper: https://nano.org/en/whitepaper

Block Explorer: https://www.nanode.co/

Disclaimer: The material provided herein is general in nature and does not take into account your objectives, financial situation or needs. While every care has been taken in preparing this material, we do not provide any representation or warranty (express or implied) with respect to its completeness or accuracy. For the avoidance of doubt, this article is solely intended to be for general information only and does not in any way constitute as professional advice or financial advice. This is not an invitation or an offer to buy or sell cryptocurrencies, nor is it a recommendation to buy or sell specific types of cryptocurrencies. Trading cryptocurrencies carry a high level of risk that may not be suitable for some. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice.

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