News

An economic overview of how Nano prioritizes transactions without a transaction fee.

Discover what lies within the upcoming V27 Denarius of the Nano Node, a release that enriches the network's robustness in terms of spam prevention, scalability, and the overall user experience.

Learn about:

• Fair Queueing enhancements
• Election/block handling improvements
• Network Flow Control Improvements

and much more.

With the aim of updating our website to be more in line with the volunteer, collaborative model that we now operate, we’ve updated the Nano Foundation page! 

The V27 beta testing has entered its fourth round, as announced by gr0vity in the Discord channel on July 9.

"Beta testing for V27 continues. This addresses some issues identified in previous rounds mainly when using RocksDB backend. During this phase of testing, we continue to focus on confirmation times and overall system stability as we move closer to the Release Candidate (RC) phase."

So far, results have been positive, with improved performance for transaction confirmations and bootstrapping nodes even facing a high load of transactions, simulating "spam." The nano developer and beta tester gr0vity also reported some of these improvements on the same day.

"I did some testing on confirmation durations with 100 additional bootstrapping nodes.

You can see that the additional bootstrapping nodes have no negative impact on confirmation durations. This shows that we successfully met our target for V27, which aimed to ensure priority blocks confirm quickly even under spam conditions. In all tested situations, the median confirmation duration is around 1 second.

Previously, similar tests on V26 resulted in extended confirmation times for priority blocks, exceeding 15 seconds most of the time. However, there still is an impact on throughput with additional nodes, which drops from ~350cps to ~80cps. This will be addressed in an upcoming version via traffic shaping and a redesign of the network topology."

He also explained that these tests were using a single bucket of transactions.

The beta testing continues, and everyone is welcome to take part in the tests before the final release.

Missed the recent Nano Weekly Dev Space from the 9th of July 2024? 

Get up to date with the latest XNO developments via YouTube here!

What a milestone! The nano network has now successfully processed over 200,000,000 blocks! Yes, that is two hundred million! This achievement underscores nano’s efficiency, scalability, and ability to provide fast, fee-free transactions.

Nano has consistently demonstrated its value as a fast, secure, and eco-friendly digital currency. Crossing the 200 million block threshold is a testament to the network’s robust architecture and the community's active participation.

A big thank you to all the people that have not only helped to build such an efficient network, but also those that have used nano to send and receive money globally. As nano continues to evolve, the focus remains on enhancing user experience, expanding adoption, and exploring new use cases for fee-free, instant transactions.

The milestone of 200 million blocks is just the beginning. We're ready for the next 100 million blocks and beyond!

Accepting payments in nano as a business can be as simple as setting up a self-custody wallet and properly communicating it. However, doubts can arise about how to liquidate or make this XNO circulate.

Community contributor Vini Barbosa addresses this topic in this article: "How to Accept Payments in Nano as a Business and Avoid Fiat Ramps."

I have been accepting payments in nano (ticker: XNO, symbol: Ӿ) since 2020, and while onboarding others to do the same, one of the most recurring concerns he identified is "How to properly off-ramp to fiat currencies to save, spend, or pay for business costs?" This is a fair concern, which I want to address in this article.

TL;DR: You won't need to off-ramp most of the time. Or, at least, that's the general idea: Avoiding on-ramps and off-ramps as much as possible.

An academic research team from India published a paper sharing a Methodology for Developing an IoT Parking Space Counter System using Nano (XNO). Here they give us an overview of this methodology with full paper linked at the end, with thanks to the Department of Computer Science and Engineering at Osmania University.

Gustav Schauwecker officially announced RsNano, a working nano node written in 100% Rust, after two years of intensive work and development.

Gustav ported the C++ nano-node and has streamed part of the process on his YouTube channel, with a special stream celebrating this announcement on May 28.

However, there is still more work to do before the node is officially launched for public testing. You can read more about the missing pieces and next steps in this blog post.

"So what’s next? Of course all of those missing features have to be implemented in Rust. Also the RsNano code repository is currently 200 commits behind the C++ repository. This will be the focus for the next weeks. Then, shortly after V27 is released, I’m going to release RsNano 1.0-alpha for public testing, which will be equivalent to V27." - Gustav Schauwecker

RsNano@GitHub: https://github.com/simpago/rsnano-node

Cake Wallet implemented nano-gpt.com in its marketplace on May 12.

NanoGPT is an AI pay-per-use service that allows users to access ChatGPT-4, Dall-E 3, Claude 3 Opus, and other premium subscription AIs with payments using nano (ticker: XNO, symbol Ӿ).

 “AI chatbots have become very popular and, in Cake Wallet, we believe cryptocurrencies like the ones supported by the app can be a great way to open up access for them [AI chatbots], more efficiently and privately  – as we are fully committed to these attributes as a company. Also,  nano is perfect for this micropayment use case due to having zero fees.”
- Vik Sharma, founder of Cake Wallet, for Finbold

Mira Hurley, founder of NanoGPT, was giving away some nano in a post on 𝕏 - for Cake Wallet users to try the app for free.

The Wodo Network announced the implementation of nano (ticker: XNO, symbol: Ӿ) to the Wodo Wallet on April 26.

As reported in the announcement, this implementation allows nano users to access an exclusive gaming store and over 60,000 outlets.

Community contributor Enaanapu Gabriel hosted the first Nano Networking Meetup in Nigeria, called "First African Merchant Meetup." Now, he shares his experience and vision related to the event in this article.

Nano has a fairly unique decentralization and consensus mechanism with the Open Representative Voting (ORV). Each owner, according to their liquid share of XNO's total supply, can actively determine whether the network has a more or less decentralized consensus.

This creates very interesting dynamics with an innovative game theory and decentralization incentives, which Vini Barbosa addresses in this article.