FAQ

Nano is a new way of thinking about money, take some time and educate yourself on the benefits and uses for this network

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What is Nano?

How does Nano work?

What are the advantages of Nano?

Zero Fees

Because the protocol is incredibly lightweight and running a node costs next to nothing, Nano transactions are processed with no fees. One transaction fits within a single UDP packet, and transactions are handled independently, eliminating any block size issue.

Instantaneous Transaction Speed

Wallets pre-cache the anti-spam Proof of Work for the next transaction once a transaction is sent, making transactions instantaneous, as both sides have the proof of work ready to go. For ongoing transactions, there may be delays, but this is intentional to prevent transaction spam.

Scalability

Transaction lookups scale with the logarithm of the data set size logNO with a tree-like structure or O1 if they are based on a hash table. To get an idea of how this scales, if it was a simple binary tree with 1,000 entries it would take 10 lookups. With 1,000,000 entries it takes 20 and 1 billion would take 30. Pruned nodes only need to keep the latest block of each account-chain, even further reducing lookup time and system resources.

Who is the team behind Nano?

Please see our Team Page.

Can I mine Nano?

Nano is not mined and has reached its maximum supply of 133,248,290 NANO. Funds were initially distributed via a captcha-based faucet distribution system that ended in October 2017. Websites claiming to mine NANO are actually mining other cryptocurrencies, such as Monero, to trade for NANO on an exchange, and then paying out miners in NANO, leveraging Nano’s feeless transactions.

Where is the Nano community located?

Where is Nano traded?

Nano is currently traded on several exchanges under the ticker symbol $NANO

The development team is actively working to add Nano to additional exchanges, with the goal of Nano ultimately trading on every major exchange.

Unfortunately, the Nano team ​is not permitted to discuss ​potential listings on additional exchanges until Nano is officially listed. The Nano team will announce each new exchange listing as soon as they are available.

Where can I find the Nano wallet?

Nano currently supports both a desktop and online wallet, with plans to release a mobile wallet and light wallet in the near future.

What are Nano Units?

Currently, the NANO ticker represents 1 million nano (Mnano), which is 10^30 raw, the smallest unit of Nano (equivalent to a satoshi in bitcoin)

Nano smallest unit is 1 raw, while 1 Gnano is the largest. 1 nano is 10^24 raw.

NANO is the ticker used on exchanges/software to trade Mnano.

1 NANO does not equal 1 nano. 1 NANO currently equals 1Mnano.

Name dividers have been put in place to notate the factor of raw units in SI notation:

1 Raw1 unano1 mnano1 nano1 knano1 Mnano1 Gnano
10010310610910121015101810211024102710301033

How does Nano achieve consensus?

Is Nano vulnerable to attacks?

What are some of the long-term goals for Nano?

How does Nano compare to other cryptocurrencies?

vs. Bitcoin

vs. IOTA

vs. Ethereum